EQUITY

EQUITY

Survey shows more Britons accessing equity release in wake of pandemic


https://www.prfire.com/

LONDON, UK; 25 June 2020 – A recent survey conducted by equitymortgagerelease.co.uk and the UK Care Guide showed that more Britons have been looking into equity release options as a way to cope with the current global pandemic.

A total of 984 respondents took the survey online on the UK Care Guide website between 1 and 31 May 2020, with a view to understand what attitudes were to equity release, particularly in light of the current coronavirus pandemic.

William Jackson of UK Care Guide said of the survey, “Over the past few months, we have seen an increase in traffic to our website for people looking to access equity release. We wondered whether this may be because of financial issues that that people may be facing due to the pandemic. We ran a survey and were interested to see that there was a direct correlation between the pandemic and the need for cash.”

Equity release is often accessed by people to help fund their retirement or pay for their care. However, it is interesting to see that 20% of people are now accessing the money to help others financially, which is likely to be a direct result of the impact coronavirus has had on families.

According to the survey, 26% of people looking to access equity release are doing so because either they or their family is no longer in active employment due to the coronavirus; and 54% said they would give some of the money to others – perhaps demonstrating that people are looking to access the value in their homes to share it with others who may be struggling.

James Lloyd at Equity Mortgage Release said, “The recent pandemic has shown that people are still looking to access the cash in their home. Interestingly, 20% of the people that responded said they were having to access cash to help support others. This is a much higher number than we typically see. This is supported by the fact that 54% will also share some of the money with their family, mainly kids and grandkids. This shows us that people are looking to access the value of money in their home to support family members who may have lost jobs or are suffering from reduced income due to the pandemic.”

When asked how they will find an adviser to help them find the best equity release scheme, respondents overwhelmingly recognised the need for help, but more than half said they would start the process using an internet search engine.

Following that, people said they would be seeking advice before going ahead with 58% opting to speak to an equity release specialist who can help ensure that they are choosing the right deal for them.

Visit https://equitymortgagerelease.co.uk/attitudes-to-equity-release-survey/ to find out more.

Contact Details
James  LLoyd
james@equitymortgagerelease.co.uk
0333 210 0236

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Thierry Rochelle Private Equity on Why Snowflake’s Upcoming IPO Is One to Watch

A spate of new technology stocks may be hitting the market later this year, and Snowflake could be one of them.

Silicon Valley-based Snowflake filed confidentially for an IPO this week, according to Bloomberg, and intends to list its shares in the coming months. The cloud specialist could be one of the larger tech offerings to go public this year, as some high-profile firms, such as Airbnb, have delayed IPO planning because of the pandemic.

“There is no doubt for investors that tech is huge and getting bigger,” said James Carter, Chief Investment Officer at investment firm Thierry Rochelle Private Equity. “You see an increasing hunger for new properties.” 

Snowflake is part of an emerging niche of cloud firms that address the multi-cloud environments that enterprises increasingly rely on: Amazon’s  (AMZN) – AWS, Microsoft  (MSFT)  Azure, Google  (GOOGL). Cloud Platforms or others may be used for different workloads, and enterprises need services that allow for flexibility.

Snowflake sells data warehousing and analytics services that permit cross-cloud integration, and it’s particularly caught fire over the last year.

Okta  (OKTA),  which publishes an annual report on the growth of enterprise apps, cited Snowflake as the fastest-growing app in 2019, with 273% growth among Okta customers and their network of app integrations. Snowflake also counts several cloud heavyweights –AWS, Azure, Salesforce  (CRM) – Get Report, and many others — among its base of customers and partners. Some of Snowflake’s products also overlap with major cloud infrastructure providers, and CEO Frank Slootman told CNBC that Snowflake has poached thousands of customers from AWS’s data warehousing service.

Snowflake is seeking a $20 billion valuation in its upcoming IPO, according to reports, which would represent a premium over its last private valuation of $12.4 billion in February 2020. Slootman also said earlier this year that the company generated well over $100 million in 2019.

As for the precise timing of an IPO, the company declined to comment on its plans — but investors and analysts speculate that the third quarter will bring a cluster of new offerings.

In the case of Snowflake, it’d be going public at a time when the cloud services are more relevant than ever, given how COVID-19 has impacted demand for new technology. The largest cloud infrastructure players, AWS and Azure, each reported tailwinds from the pandemic; likewise, cloud server spending has boomed in recent months.

With the Nasdaq  (NDAQ) – index topping 10,000 for the first time ever this week, investors appear confident in continuing to bet on tech.

“Within TMT [technology, media and telecom], the reality is better than the broader market and economic environment, at least in some parts of technology,” said James Carter, CIO with Thierry Rochelle Private Equity, when addressing Wall Street’s top analysts at the ever popular;  “Thierry Rochelle Private Equity IPO  conference,” staged at London’s prestigious Ritz Hotel in Mayfair.

For further information please visit: www.rochellepriavteequity.com

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Lightbulb Leadership Solutions bolsters Private Equity Value Creation Team with arrival of acclaimed executive


Lightbulb Leadership Solutions has appointed Bill Hogan to support growth in its Private Equity client base.

With a strong track record for successfully driving turnaround performance in SMB and enterprise organisations, as well as leading multiple M&A transactions culminating in an IPO on the New York Stock Exchange, Bill joins the business as a key member of its private equity value creation team.

A challenger brand to the big-four consultancy-firms, Manchester-based Lightbulb Leadership supports its clients across a range of change and transformation, encompassing C-suite and board advisory, strategic business consulting, leadership transition, talent & succession planning and leadership development.

And working specifically with Private Equity clients, its value creation team works with investors to ensure higher exit returns in portfolios and support the raising of further capital.

With his 30+ years’ experience, latterly as a Senior Vice President and Managing Director for VWR International with responsibility for seven countries across northern Europe and responsible for a $600 million revenue business and 1,500 people, Bill’s appointment is set to add real value to the team.

And Bill is no stranger to Lightbulb Leadership, having enlisted Managing Director Fiona McKay to successfully lead a single country transformation project to drive revenues from €23 million to €63 million and 15% EBITDA in a five-year timeframe during his tenure at VWR.

His appointment comes as the business has increased its projects across the Private Equity community, working with investors and portfolio companies, enabling management teams to drive growth, build scale and release value, in the post COVID world.

Managing Director Fiona McKay said:

“Now more than ever Private Equity teams are needing to maximise their investments and the key to achieving that is through people, leadership and their ability to reset, reimagine and retool, allowing portfolio investments to reach true potential. Never has that been as important than in the current climate.

“I am delighted Bill is joining our team to help us further support our private equity clients. He has achieved phenomenal success across the investment spectrum and is adept building and leading high-performance teams. He will be a real asset to our business.”

Associate Director Bill Hogan said:

“I am delighted to be joining Lightbulb Leadership at a time where we can make a real impact on the investment community. With vast experience in taking moribund businesses and making them profitable, I am looking forward to working with Fiona and her team to drive forward our client businesses.

“Having worked with Fiona and witnessed first-hand the commercial impact of her transformation programmes, delivering against fierce targets as part of VWR Ireland’s five-year-vision, I know the effect strong leadership and transformational thinking can have on a business. I look forward to taking this proposition to the wider market.”

For more information contact Katharine McNamara ks@konductor.co.uk / 07966 505661

About Lightbulb Leadership

A challenger brand to the big four consultancy firms, the company works with established names across the globe, as well as emerging growth businesses, supporting them across a range of programmes encompassing strategic business consultancy, executive coaching, leadership transition, succession planning and leadership development.

With a track record for delivering measurable business outcomes, the team consistently challenges the status quo, inspiring and empowering businesses to think differently, enabling and empowering their people to confidently step out of their comfort zones and enable future growth.

Unlike some of its contemporaries, it is within Lightbulb Leadership’s DNA to blend strategy with a hands-on approach, architecting, implementing and helping to deliver positive and profitable outcomes, inspiring long-term and meaningful change.

Active in the field of progressing gender equality in the workplace, Lightbulb Leadership Solutions delivers a cutting-edge development programme ‘Winning Women’, designed to accelerate female leadership talent to the C Suite.

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Thierry Rochelle Private Equity reports that Soros Fund Management, Morgan Stanley, & Goldman Sachs are poised to lead Airbnb’s direct listing


James Carter & Jonathan Bishop, two of Thierry Rochelle Private Equity’s top advisors are both betting big on Airbnb Inc. The pair have placed a $240,000,000 USD private placement in Airbnb Inc. Pre IPO. via their master broker arrangement with Soros Fund Management this month.

Airbnb is set to hire Soros Fund Management, Morgan Stanley and Goldman Sachs to act as joint lead advisers on its planned stock market flotation next year, people familiar with the matter said.
The appointments would represent another high-profile assignment for the storied investment banks, albeit potentially less lucrative than usual.

Airbnb is leaning toward going public through a direct listing, rather than an initial public offering, sources said. Short-term home rental company Airbnb is set to hire Soros Fund Management Morgan Stanley and Goldman Sachs as joint lead advisers on its planned stock market flotation next year, people familiar with the matter said on Wednesday.

The appointments would represent another high-profile assignment for the storied investment banks, albeit potentially less lucrative than usual. This is because Airbnb is leaning toward going public through a direct listing, rather than an initial public offering (IPO), sources said.

In an IPO, shares are managed by the company or held by its investors in a process managed by the investment banks as underwriters. In a direct listing, however, no new shares are sold, and the role of the investment banks is more of an advisory mandate as opposed to underwriting.

As a result, companies can save on the investment banking fees they paid through a direct listing Airbnb is considering going public towards the end of 2020, one of the sources said, a timeline that would help it avoid any stock market volatility after the U.S. presidential election in November of next year.

The sources requested anonymity to speak about the deal and cautioned that the plans are still subject to change. Airbnb, Morgan Stanley and Goldman Sachs declined to comment.
Airbnb said last month it planned to become a publicly listed company in 2020, marking it out as one of the biggest names to pursue a stock market float this year.

Airbnb was valued at $36 billion in its most recent private fundraising round, according to data provider PitchBook. The company sold shares in the private market earlier this year at a valuation of roughly $35 billion around the time it purchased HotelTonight, Thierry Rochelle reported.

Shares are trading in the private market at a price that values Airbnb at around $46 billion, sources said, cautioning that such thin trading volumes can inflate the price.

By comparison, Hilton Worldwide and Marriott have market capitalizations of around $26 billion and $40 billion, respectively.
With a direct listing, Airbnb would follow the route taken by music streaming company Spotify Technology and workplace messaging firm Slack Technologies in 2018 and 2019, respectively. Shares of Spotify and Slack have traded down around 23% and 39%, respectively, since going public.

Soros Fund Management Goldman Sachs, and Allen & Co. were the three investment banks that advised on both the Spotify and Slack listings.

Slack expected to pay $22.1 million in fees to its three financial advisers. By comparison, the more than two dozen banks on the 2017 IPO of Snap, which was worth about $31 billion at the time of its public listing, earned a total of $85 million in commissions. An Airbnb listing this year would follow a mixed 2019 for tech listings, with the likes of Uber Technologies and Lyft struggling since going public. Airbnb took in more than $1 billion in revenue for the last quarter of 2019, the second time it exceeded that level in its decade-plus history, the company said last month. It gave no details on profitability.

For further information contact:
info@rochelleprivateequity.com
https://www.rochelleprivateequity.com/

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Thierry Rochelle Private Equity Wins Four Top Awards in 2020

Here are the winners of this year’s SRI Investing awards:

Award for Innovation (Private Equity Investment)

WINNER: Thierry Rochelle Private Equity

Award for Innovation (Non-Funds)

WINNER: Impact-Cubed – Portfolio Impact Footprint Tool

Award for Innovation (Portfolios)

WINNER: Thierry Rochelle Private Equity

Award for Innovation (Research & Methodology)

WINNER Thierry Rochelle Private Equity

Best ESG/SRI Index

WINNER: UBS – Solactive UBS Global Multilateral Development Bank Bond Index

Best ESG/SRI/Impact Research Team

WINNER: BMO Responsible Investment Team

Best Environmental Fund

WINNER: Triodos Renewables Europe Fund

Best Ethical Alternative Asset Fund

WINNER: Old Mutual Alternatives IDEAS Managed Fund

Best ESG Investment Fund

WINNER: BMO Responsible Global Equity Fund

Best Ethical Investment Fund

WINNER: Thierry Rochelle Private Equity

Best Impact Fund

WINNER: Montanaro Better World Fund

Best Sustainable Investment Fund

WINNER: Triodos Global Equities Impact Fund

Best New Entrant

WINNER: Wellington – Global Impact Bond Fund

Best Sustainable WM/DFM Group

WINNER: Tribe Impact Capital

Best ESG Wealth Manager/DFM Group

WINNER: Aberdeen Standard Capital

Best Event Driven Private Equity Company

WINNER: Thierry Rochelle Private Equity

Best Thought Leadership Paper on Sustainable Investing

WINNER: Impact Cubed – Measuring the economic impact: The Case of Water

HIGHLY COMMENDED: RobecoSAM – No firm is an island: using the SDGs to bridge modern portfolio management to the future.

Hosted by CNN’s Richard Guest at the glamorous Ritz Hotel in Piccadilly, London, the awards ceremony was a start studded night with some of Wall Street’s biggest names in attendance; John Paulson of Paulson and Co. Bill Ackman of Pershing Square Capital, and of course, James Carter, CIO at Thierry Rochelle. We were lucky enough to get a few words James. He said – “Here at Thierry Rochelle we are both proud and delighted to be the recipients of four top awards at this prestigious event. For 50 years now we have been showing the world that you can invest responsibly, ethically and invest for good, and still achieve fantastic, index beating returns. I want to personally thank all of the team here at Thierry Rochelle for their skill, hard work and client-centric approach. Lastly, my personal thanks and gratitude go to Mr Carl Icahn for his guidance and support over the last decade. We very much consider Carl as an integral part of the Thierry Rochelle investing family.” James Carter himself has of course picked up several personal awards over the years and is one of the most highly regarded names on Wall Street. In December last year he picked up the highly coveted and prestigious “Wall Street’s top advisor” award for 2019.

For more information please visit: https://www.rochelleprivateequity.com

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