A propped-up valuation gives a rosy picture of the portfolio to a fund’s investors and paves the way for the fund manager to attract more money from new as well as old investors when it goes for the next round of fund-raising.
The relinquished awards represent roughly 0.08% of his net worth, according to the Bloomberg Billionaires Index, which puts his fortune at $138.4 billion.
Blackstone is in the process of arranging a $200 million loan for ASK Investment Managers. This loan aims to refinance an existing sponsor-financing facility that
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