StoneX Group Inc., a global financial services network, has entered into a definitive agreement to acquire futures brokerage R.J. O’Brien (RJO), while private equity giant KKR will purchase post-trade solutions provider OSTTRA from co-owners S&P Global and CME Group. In both cases, the main driver was the expansion of clients and offerings. RJO to Join StoneX RJO will join StoneX… Read More >>
Wall Street Execs Want Trump Transition to Start
A letter sent to the Trump administration from New York City’s A-List business leaders, including many from top Wall Street financial services firms, underscores the need for “an orderly presidential transition process” so that the country can re-focus on ending the global pandemic. The letter also underscores the need for more cooperation among groups and… Read More >>
KKR Shuffles, Promotes Executives
Private equity giant KKR & Co. L.P. recently announced that it is expanding its executive leadership team with the appointment of Joe Bae and Scott Nuttall as co-presidents and co-chief operating officers (COOs) for the firm and members of KKR’s board of directors. KKR’s founders Henry Kravis and George Roberts, who serve as co-chairmen and… Read More >>
Disclosure Failures to Cost Blackstone Group $39 Million
Three private equity fund advisers within The Blackstone Group will be paying nearly $39 million to settle SEC charges that they failed to tell investors about the financial benefits accrued from accelerated monitoring fees and discounts on legal fees, according to the SEC. Approximately $29 million of the settlement is slated to be distributed to… Read More >>
SEC Slams KKR for ‘Broken Deal’ Expenses
The SEC is charging private equity firm Kohlberg Kravis Roberts & Co. (KKR) with misallocating “more than $17 million” in broker-dealer expenses via its flagship private equity funds, citing a breach of its fiduciary duty, officials say. KKR manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, capital markets, credit strategies,… Read More >>
PE Data Standards Group Targets Portfolio Metrics
The private equity data standards group, the AltExchange Alliance, has released an updated set of data definitions intended to provide more automation and operational efficiency for the portfolio-related interactions among private equity industry participants. Last year, the AltExchange released its group 1 standard, which harmonized how information such as capital accounts, cash flows and portfolio… Read More >>
