HALISTER: Deutsche Asset Management Listing Possible in September: BZ

Deutsche Asset Management Listing Possible in September: BZ

(Bloomberg) -- Preparations for partial listing of fund business so advanced that it should be possible in September as soon as mid-year prospectus is completed, Boersen-Zeitung reports, without saying where it got information.
  • Analysts appraise value Deutsche AM at EU4.9b-EU8b, depending on whether assets under management or adjusted profit are used as key denominator to set enterprise value
  • Industry standard for AuM is factor of 0.7 to 1.4, for profit-multiple margin is 5-10
  • 20-25% of Deutsche AM likely to be traded
  • Possible that in addition to public offering, there may be a private placement with strategic partner
  • NOTE: April 12, Sal. Oppenheim to Move Capital Mkts Unit to Deutsche Bank: FAZ NSN OOBF7R6VDKHS

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
DBK GR (Deutsche Bank AG)

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UUID: 7947283

HALISTER1: Canada Pension Plan Investment Board & CPPIB Capital Inc. - DBRS Rating Report

Canada Pension Plan Investment Board & CPPIB Capital Inc. - DBRS Rating Report

Alert: HALISTER1
Source: DBR (Dominion Bond Rating Service)

Tickers
0808351D CN (CPPIB Capital Inc)
3682Z CN (Canada Pension Plan Investment Board)

People
Geetika Gupta (DBRS Ltd)
Jamie Feehely (DBRS Ltd)
Paul Bretzlaff (DBRS Ltd)

Topics
Credit Analysis Research
Credit Research
Fixed Income Research
Investment Research

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UUID: 7947283

HALISTER1: Raymond James Reaches $150m Jay Peak Settlement

Raymond James Reaches $150m Jay Peak Settlement

(Bloomberg) -- Agrees to settle all investor claims related to Jay Peak EB-5 visa matter, subject to court approval.
  • Relates to allegedly fraudulent investment program created by third parties
    • EB-5 is a U.S. government program in which foreign investors, families can obtain permanent residency green cards by making a capital investment in a U.S. business
  • Co accrued $50m related to this matter as of Dec. 31
  • Market cap $10.43b: Bloomberg data
Statement link

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
RJF US (Raymond James Financial Inc)

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UUID: 7947283