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UAE plans global energy push with Adnoc’s $150bn spending.
Direct lender Pemberton eyes $50bn to plug Europe lending hole. (FS)
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汇丰 , a British multinational investment bank and financial services holding company, completed the acquisition of L&T Investment Management Limited , an investment manager, from L&T Finance Holdings Limited , a well-diversified non-banking financial company, for $425m.
"This transaction enhances the strength of our business in India and reinforces our status as one of Asia's leading wealth managers. Combining LTIM with our existing Indian asset management business gives us the scale, reach and capabilities to capture some of the 15-20% annual asset management market growth expected in India over the next five years," Noel Quinn, HSBC CEO.
HSBC was advised by 汇丰 and Talwar Thakore & Associates (TT&A) (led by? Kunal Thakore ). L&T Finance Holdings was advised by 花旗 , J.P. 摩根 , Cyril Amarchand Mangaldas , Ketchum Sampark (led by? Girish Dikey ) and 普华永道 .
New Enterprise Associates (NEA) , Abingworth and Forge , three venture capital firms, led a $120m Series C round in Escient Pharmaceuticals , a biotechnology company, with participation from Avego , PFM Health Sciences , The Eleven Fund , The Column Group , 5AM Ventures , Redmile Group , Cowen Inc. , Sanofi Ventures , Osage University Partners (OUP) , and Altitude Life Science Ventures .
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“By specifically blocking the activation of MRGPRX2 and MRGPRX4 with small molecule antagonists, we aim to develop effective oral medications with novel mechanisms of action for serious neurosensory-inflammatory diseases without the serious side effects observed with other approaches. We are thrilled with the support from both existing and new investors, and this significant financing puts us in a great position to advance our pipeline to clinical proof-of-concept in multiple indications," Joshua Grass, Escient Pharmaceuticals CEO.
Apollo Global Management, Inc. -backed 雅虎 , an American multinational technology company, agreed to acquire a 25% stake in Taboola , a public advertising company headquartered in New York City. Financial terms were not disclosed.
"Partnering with Taboola enables Yahoo to further enhance the contextual and native offerings within our unified advertising stack. The partnership also allows Yahoo and Taboola to continue to differentiate in market, improving user, advertiser and publisher experiences across properties, while benefiting from the long-term tailwinds in digital native advertising. Together with Taboola, we will maximize reach and campaign performance for advertisers, enhance monetization opportunities for publishers, and drive improved, privacy-forward experiences for users. As we continue to build the next era of Yahoo, we are thrilled to have strong partners by our side," Jim Lanzone, Yahoo CEO.
Taboola is advised by Davis Polk & Wardwell LLP and Meitar | Law Offices . Yahoo is advised by Evercore , LUMA Partners , LionTree , EBN - Erdinast. Ben Nathan. Toledano and Paul, Weiss, Rifkind, Wharton & Garrison LLP .
UAE plans global energy push with Adnoc’s $150bn spending.
The United Arab Emirates will expand its global energy reach as the OPEC member’s biggest energy company boosts spending to increase oil and natural gas production capacity,?Bloomberg ?reported.
Abu Dhabi National Oil Company will invest $150bn in the five years through 2027. That’s an increase on the previous spending plan of $127bn over five years that was announced a year ago.?
Direct lender Pemberton eyes $50bn to plug Europe lending hole. (FS)
Pemberton Asset Management is fast-tracking plans to triple the size of its private debt funds and plug a European lending gap being created by increasingly skittish banks,?Bloomberg ?reported.
"The $17bn investment firm is in the process of raising capital for five credit strategies, which include lending on mid-market buyouts," Symon Drake-Brockman, Pemberton Founder and Managing Partner.
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