KKR is aiming to raise $15 billion for its fifth Asia private equity fund, sources told Reuters — positioning it to become one of the largest PE fundraisings ever in Asia. The firm began marketing the vehicle to investors this week, and the final fund size could exceed the target depending on demand. The strategy...
Moderna has secured a $1.5 billion, five-year loan from Ares Management as it aims for up to 10% revenue growth in 2026, the company said Thursday. Moderna will draw $600M upfront, with optional access to $400M through Nov 2027 and $500M through Nov 2028. President Stephen Hoge told Reuters the financing provides flexibility for business...
Artisan Partners is pushing back hard against Axalta Coating Systems’ plan to merge with AkzoNobel in an all-stock deal creating a $25 billion paint industry giant. In a letter to shareholders, fund managers Daniel O’Keefe and Michael McKinnon wrote: “The only proper response to this proposed transaction is an absolute and resounding ‘NO.’” They added...
The Financial Stability Board (FSB) has warned G20 leaders that the rapid growth of private credit markets and stablecoins now requires intensified global oversight, ahead of next week’s summit in South Africa. In a letter published Thursday, FSB Chair Andrew Bailey urged leaders to “modernise and strengthen” financial regulation without compromising stability. He highlighted the...
Crypto exchange Kraken has confidentially filed for a U.S. IPO, aiming to tap the newly active listings market ahead of the 2026 midterm elections, as digital asset firms race to go public under a crypto-friendly regulatory climate. The move follows Kraken’s latest fundraising, which valued the company at $20 billion — a 33% jump in...
Target reported a larger-than-expected 2.7% drop in comparable sales for Q3 and outlined a wide profit range for the holiday quarter as it cuts prices to attract cash-strapped U.S. consumers. Shares fell ~2%, extending a year-to-date decline of 35%. The results mark the first full quarter since incoming CEO Michael Fiddelke was appointed in August....