Harvard Corporate Governance

MARCH 19, 2024

Vanguard’s Investment Stewardship Program Vanguard’s Investment Stewardship program has a clear mandate to safeguard and promote long-term shareholder returns on behalf of the Vanguard-advised funds and their investors. 2] Vanguard’s equity index funds are long-term investors in numerous public companies around the world.

Equity 169

Equity 169

Private Funds CFO

APRIL 1, 2022

More and more PE managers are launching continuation funds to hold onto assets longer. Private Funds CFO reports on how to make sure your continuation fund is a success. But such deals are rife with potential conflicts of interest. for both you and your investors.

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52

Benzinga

APRIL 17, 2022

per share offer is the "best and final" proposal, he could raise it to $69 per share on April 20, that's according to Gary Black , co-founder and managing partner of Future Fund, an investment advisory firm. Although Musk said in the letter to Twitter's board and in the filing that his $54.20

Marketability 96

Marketability 96

Financial Times M&A

JANUARY 22, 2024

Plus, McKinsey’s C-suite intrigue and a new borrowing binge in private markets

Marketability 79

Marketability 79

Law 360 M&A

MARCH 10, 2024

investment firm Elliott Advisors said Monday that it will not make another offer for Currys PLC, after the British electrical retailer snubbed a £760 million ($976 million) proposed takeover bid in February.

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52

Harvard Corporate Governance

FEBRUARY 2, 2024

Related research from the Program on Corporate Governance includes Index Funds and the Future of Corporate Governance: Theory, Evidence and Policy (discussed on the Forum here ), and The Specter of the Giant Three (discussed on the Forum here ) both by Lucian A. By 2019, these funds represented over 25% of the U.S.

Corporate Finance 278

Corporate Finance Finance Equity Marketability 278

Harvard Corporate Governance

APRIL 17, 2024

Posted by Danielle Gurrieri and Chuck Callan, Broadridge, on Wednesday, April 17, 2024 Editor's Note: Danielle Gurrieri is Vice President Head of Product Management-Bank, Broker Dealer and Chuck Callan is SVP of Regulatory Affairs at Broadridge. This post is based on their Broadridge memorandum. more…)

Banking 136

Banking 136

Mckinsey and Company

OCTOBER 7, 2022

Truly performance-driven organizations do more than adopt agile ways of working; they take an agile approach to the enterprise funding process to allocate talent and capital toward the right outcomes.

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76

Benzinga

APRIL 11, 2023

-based global provider of fintech and consumer data analytics, has entered into a non-binding letter of intent to acquire Australian-based Shape Super Australia Pty Ltd (Shape), a prominent manager and administrator of self-managed super funds (SMSFs). Shape's assets under administration presently total more than AU$1.6

B2B 40

B2B Finance Marketability 40

Private Funds CFO

APRIL 14, 2022

Investors put safe money with larger managers, making fundraising for first-time funds more difficult.

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52

Benzinga

MARCH 28, 2023

Bateau Asset Management brings to GoLogiq: Well-established global client base of high-net-worth individuals, family offices, non-profit organizations and other institutional clients. Four global investment funds. Since 2016, Bateau has offered an absolute-return investment philosophy delivered by a multi-manager approach to investing.

Marketability 40

Marketability Compliance 40

Harvard Corporate Governance

OCTOBER 23, 2023

Scholarship on institutional investors has emphasized that the largest fund managers also have business lines that offer services to retirement plans sponsored by U.S. companies, including the 401(k) plans now commonly offered by private-sector employers. more…)

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219

Financial Times M&A

SEPTEMBER 5, 2023

Canadian pension fund agrees to buy holding from Caledonia Investments for £255mn

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125

Law 360 M&A

OCTOBER 16, 2023

said Monday it is being sold to Searchlight Capital Partners LP and the British Columbia Investment Management Corp. Consolidated Communications Holdings Inc. in an all-cash, take-private deal that values the Illinois-based telecommunications company at roughly $3.1

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71

Financial Times M&A

MAY 23, 2023

Rare intervention from staff comes as proposed sale of Swiss company has drawn criticism from some shareholders

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75

Harvard Corporate Governance

JULY 3, 2023

Voting decisions on these resolutions by the Big Three, primarily passive, asset managers—BlackRock, Vanguard, and State Street—also clearly indicate the issues the firms are prepared to make a stand on regarding environmental and social themes.

Equity 225

Equity Marketability 225

Private Funds CFO

MARCH 31, 2022

Looking to the future, Sanne experts point to the regulatory, jurisdictional and technology themes fund managers should be focusing on.

Technology 52

Technology 52

Harvard Corporate Governance

SEPTEMBER 18, 2023

So-called “passive” index funds, which track a pre-specified underlying index, manage over $12 trillion in assets. So-called “passive” index funds, which track a pre-specified underlying index, manage over $12 trillion in assets. in the fourth quarter of 2022 alone. more…)

Market Capitalization 220

Market Capitalization Marketability 220

Benzinga

JUNE 12, 2023

June 12, 2023 (GLOBE NEWSWIRE) -- Amplify ETFs and ETF Managers Group (ETFMG) announced today a definitive agreement under which Amplify ETFs will acquire ETFMG's exchange-traded funds (ETFs) lineup. LISLE, Ill. and SUMMIT, N.J.,

Marketability 40

Marketability 40

Harvard Corporate Governance

MARCH 27, 2022

This has been a busy month for SEC rulemaking and enforcement alike, and we examine the following questions: What can we glean from the recently issued proposed rules targeted at investment advisers, including advisers to private funds and institutional investment managers? Can cooperation with the SEC mitigate adverse outcomes?

Compliance 239

Compliance Equity 239

Harvard Corporate Governance

JANUARY 12, 2024

mutual funds collectively managed assets worth $27 trillion, held about 32% of all U.S. The Securities and Exchange Commission (SEC) requires mutual funds to provide the public with detailed information about their portfolio holdings and investment activities so mutual fund investors know how their money is being managed.

Equity 124

Equity Marketability 124

Harvard Corporate Governance

AUGUST 1, 2023

Posted by Mary Ann Deignan, Rich Thomas, and Kathryn Night, Lazard, on Tuesday, August 1, 2023 Editor's Note: Mary Ann Deignan is Head of Capital Markets Advisory, and Rich Thomas and Kathryn Night are Managing Directors in the Capital Markets Advisory group at Lazard. corporations are managed. corporations are managed.

Marketability 242

Marketability Total Shareholder Return Alpha Market Capitalization 242

Harvard Corporate Governance

SEPTEMBER 10, 2022

On August 10, 2022, the Securities and Exchange Commission (“SEC”) and Commodity Futures Trading Commission (“CFTC”) proposed additional amendments (the “Proposed Amendments”) [1] to Form PF, the periodic report filed by registered investment advisers that manage private funds. [2]. Background.

Equity 224

Equity 224

Harvard Corporate Governance

MAY 13, 2022

John Galloway: By way of context, the team I lead is responsible for investment stewardship activities for Vanguard’s internally managed equity funds, which are principally index funds. When I speak about Vanguard’s approach to Investment Stewardship, I’m referring specifically to our internally managed equity funds.

Equity 206

Equity Marketability 206

Harvard Corporate Governance

APRIL 3, 2023

In our article, Corporate Democracy and the Intermediary Voting Dilemma (forthcoming Texas Law Review ), we argue that the shift requires institutional intermediaries—namely, mutual and pension fund managers—to pay greater attention to the views of their beneficiaries. The rise of ESG, however, changes this calculus. more…)

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246

Financial Times M&A

JUNE 27, 2023

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

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95

Harvard Corporate Governance

MAY 28, 2023

1] Form PF requires SEC-registered investment advisers to file reports with the SEC regarding private funds managed by such advisers and allows the Financial Stability Oversight Council to assess systemic financial risk to the U.S. On May 3, 2023, the SEC voted to adopt significant amendments to Form PF on a 3-2 vote. [1]

Equity 220

Equity Compliance 220

Harvard Corporate Governance

DECEMBER 24, 2022

On November 2, 2022, the SEC voted 3 to 2 (Commissioners Hester Peirce and Mark Uyeda dissenting) to adopt amendments to Form N-PX to enhance the information mutual funds, exchange-traded funds and certain other registered funds (“funds”) report about their proxy votes (together, the “final rules”). [1]

230

230

Harvard Corporate Governance

JANUARY 17, 2024

Posted by Josh Lerner (Harvard Business School), Jinlin Li (Harvard Kennedy School), and Tong Liu (MIT Sloan School of Management), on Wednesday, January 17, 2024 Editor's Note: Josh Lerner is the Jacob H. This post is based on their recent paper. more…)

Finance 226

Finance Banking 226

Benzinga

JUNE 1, 2023

With this merger, CSP aims to consolidate its position as one of the largest cross-border, technology services dedicated private equity fund manager in Asia and will continue to augment its combined execution capability.

Technology 40

Technology Equity 40

Harvard Corporate Governance

DECEMBER 18, 2023

Posted by Marco Becht (Université libre de Bruxelles) and Kazunori Suzuki (Waseda University), on Monday, December 18, 2023 Editor's Note: Marco Becht is Professor of Finance at the Solvay Brussels School of Economics and Management (ULB), and Kazunori Suzuki is a Professor at Finance at Waseda University. more…)

Finance 214

Finance 214

Harvard Corporate Governance

JUNE 27, 2023

When it first arose in the 1980s, the private equity buyout represented an entirely novel approach to owning, managing, and financing companies, and its effects on both corporate behavior and the financial markets have been profound. Depending on the fund, the terms of any given side letter need not be disclosed to the other fund investors.

Corporate Finance 220

Corporate Finance Finance Equity Marketability 220

Harvard Corporate Governance

DECEMBER 18, 2022

SEC proposes amendments to liquidity risk management and required swing pricing for certain funds. The SEC’s newly proposed amendments would require updates to certain registered fund liquidity risk management programs and would require swing pricing for certain funds. more…).

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165

Harvard Corporate Governance

APRIL 4, 2024

Asset owners, such as pension plans, sovereign wealth funds, and endowments and foundations, typically allocate their investments to asset managers based on expected performance, risk, and other key characteristics. Asset management firms owned by white males oversee 98.6 .; and Will Nasdaq’s Diversity Rules Harm Investors?

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161

Harvard Corporate Governance

MARCH 1, 2023

Posted by Jed Rubenfeld, Strive Asset Management, on Wednesday, March 1, 2023 Editor's Note: Jed Rubenfeld is Robert R. Slaughter Professor of Law at Yale Law School and an advisor to Strive Asset Management. This post is based on his Strive memorandum. more…)

Marketability 220

Marketability 220

Harvard Corporate Governance

AUGUST 24, 2022

Department of Labor (the “ DOL ”) proposed major changes (the “ Proposal ”) [1] to a core exemption used by many investment managers that have discretionary responsibility over the assets of funds and accounts that are deemed to hold “plan assets” under the U.S. Employee Retirement Income Security Act of 1974, as amended (“ ERISA ”).

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207

Harvard Corporate Governance

APRIL 10, 2024

While the case, West Palm Beach Firefighters’ Pension Fund v. Moelis & Co. , 2023-0309-JTL (Del. February 23, 2024), may be appealed by the defendant, the opinion provides important guidance for corporate planners when crafting agreements pertaining to internal governance of a Delaware corporation.

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