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Merlin Properties, a Spanish real estate company, plans to raise capital for its data center business through a share sale. The company will issue approximately 94 million new shares, representing about 20% of its share capital. Shareholders, including Banco Santander and Nortia Capital, as well as company officials, will participate in the offering. Merlin currently operates data centers in cities such as Madrid, Bilbao, and Barcelona. Goldman Sachs and Morgan Stanley will serve as joint global coordinators for the capital increase. [Extracted from the article]

Morgan Stanley is offering a type of bank capital security that has been neglected by the country's biggest lenders for almost two years. The bank aims to raise $250 million through a perpetual preferred share issue that pays a fixed rate for life. This type of note, which targets retail investors with $25 dollar chunks, has gained prominence among regional lenders as a way to raise capital while giving small investors a way to profit when interest rates drop. Morgan Stanley and other banks involved in the deal can rely on their strong retail networks. [Extracted from the article]

Goldman Sachs Group Inc. has announced plans to reduce its stock repurchases after the Federal Reserve's stress test required the bank to set aside more capital. The bank expressed disagreement with the results and stated that it will engage with regulators to better understand their determinations. The stress-capital buffer increase for Goldman Sachs was primarily driven by lower fee income. The bank's regulatory minimum CET1 ratio has climbed to 13.9% from 13%. [Extracted from the article]

Guaranty Trust Holding Co., Nigeria's largest lender by market value, plans to raise $246.2 million through a share sale to increase capital in its Nigerian unit. This is the largest amount sought by a lender in Nigeria since the central bank raised the industry's capital threshold. The bank will offer 9 billion shares at 44.50 naira each, with the majority of the proceeds going towards recapitalizing GTBank and the rest for growth and expansion through acquisitions. The central bank's increased capital requirements are expected to lead to mergers and acquisitions in the industry. [Extracted from the article]

Kenya is planning to increase the minimum core capital for banks by ten times, which could result in a significant reduction in the number of lenders in the country. Stanbic Holdings Plc predicts that this move will lead to some banks merging their operations. The CEO of Stanbic Bank Kenya, Joshua Oigara, believes that the industry could be halved as a result. Currently, Kenya has 38 commercial banks, with the eight publicly traded lenders controlling 80% of the industry. [Extracted from the article]

D.E. Shaw, a money manager based in New York, is raising its second fund to invest in synthetic securitizations issued by banks to manage their capital requirements. The first fund raised $650 million in February 2023. The new fund, called Diopter II, will primarily pursue investments that banks use to optimize or reduce their capital requirements. D.E. Shaw has invested about $4.2 billion in synthetic securitization deals since 2016. [Extracted from the article]

Millennium Management, a multistrategy hedge fund, is in talks to raise new capital equivalent to about 10% of its $68 billion in assets. The New York-based firm plans to raise the cash through a draw-down fund, allowing them to access the funds as needed. This move is aimed at bolstering their ability to access capital and attract and retain investment professionals. Despite the hedge-fund industry facing capital outflows, Millennium and other giants have closed their doors to new cash, emphasizing the importance of stable capital. [Extracted from the article]

Kenya is considering increasing the minimum capital requirement for banks by ten times, from 1 billion shillings to 10 billion shillings, according to Treasury Secretary Njuguna Ndung'u. This move is aimed at protecting banks from risks and supporting their expansion in the region. Central bank Governor Kamau Thugge has also expressed support for this proposal, citing increased risks such as climate change and cyber security. The implementation of this requirement could lead to consolidation or share offers in Kenya's banking sector, with some banks choosing to downgrade their licenses. [Extracted from the article]

Jarett Banks, the managing director of Andalusian Private Capital, has resigned from his position to pursue a new opportunity. Banks, who has been with Andalusian since its establishment, plans to start his own firm. Andalusian, founded in 2020, is a private capital firm that invests in growth businesses and engages in buyouts, recapitalizations, and special situations. It has received funding from David Tepper, the founder of Appaloosa Management, among others. Some of the companies that Andalusian has backed include eToro, Sierra Space, Canva, and Moon Active. [Extracted from the article]

Encyclopaedia Britannica Inc., the publisher of the encyclopedia and the Merriam-Webster dictionary, is seeking to raise capital to repay debts owed by its owner, Jacob E. Safra. The company has enlisted Jefferies Financial Group, Bank of America, and Deutsche Bank to explore a capital raise of over $450 million, which will include an equity component. The funds will be used to repay Safra's existing debt, unrelated to the Britannica group. The company had previously announced plans for an initial public offering (IPO) in the U.S., but the capital raise may delay this. Britannica, founded over 250 years ago, has transitioned from print to digital editions and online learning, with subsidiaries including Britannica Education and Melingo AI. [Extracted from the article]

National Grid Plc, a key player in the UK's journey to net zero, plans to raise £6.8 billion ($8.7 billion) of capital to fund a massive investment program aimed at overhauling Britain's power network. The company will issue new shares and sell its Grain liquefied natural gas terminal and US onshore-wind business to expand and strengthen the grid, connect renewable-energy projects and vehicle-charging networks, and accommodate an expected doubling of electricity demand in the push to decarbonize. The investment will lead to increased network charges, but the overall bill to consumers is expected to decrease as generation from renewables increases. [Extracted from the article]

National Grid Plc, a key player in the UK's transition to net zero, plans to raise £6.8 billion ($8.7 billion) in capital to support its investment program. The company intends to sell its Grain liquefied natural gas terminal and its US onshore-wind business, using the proceeds to expand and strengthen the power grid. National Grid aims to connect new renewable projects and vehicle-charging networks, as well as accommodate the expected doubling of electricity demand in the decarbonization effort. The company also reported higher-than-expected annual earnings per share and recommended a dividend increase in line with UK inflation. [Extracted from the article]

National Grid Plc, a UK network company, plans to raise £6.8 billion ($8.7 billion) in capital to support its £60 billion network spending plan over the next five years. In addition to issuing new shares, the company intends to sell its Grain LNG terminal and its US onshore wind business. The capital raise will help expand and strengthen Britain's power grid to accommodate new renewable energy projects, electric vehicle chargers, and an expected doubling of demand in the push for decarbonization. A portion of the proceeds will be used to refinance outstanding hybrid bonds. National Grid's earnings per share exceeded analysts' expectations. [Extracted from the article]

Norinchukin Bank, a Tokyo-based institution, is considering raising 1.2 trillion yen ($7.7 billion) to cover losses resulting from the elimination of low-yielding foreign bonds. The bank may experience approximately 500 billion yen in losses for the current fiscal year due to restructuring its securities portfolio. Norinchukin Bank, which is funded by Japan's agricultural cooperatives, is one of the country's largest institutional investors with a securities portfolio of 55.9 trillion yen, with bonds comprising over half of its investments. The bank's strategy of investing in foreign bonds to seek higher yields backfired when the US Federal Reserve began raising rates, resulting in increased funding costs and diminished returns. [Extracted from the article]

Kedaara Capital, an Indian private equity firm, has raised a record-breaking $1.7 billion, putting it on par with global players like Blackstone and Carlyle Group. The firm plans to leverage its local expertise in the health, consumer, and finance sectors to collaborate with these global firms. Kedaara aims to make four investments per year from its latest fund and take three companies public by 2025. The firm has a strong track record, with a gross internal rate of return of 40% for its first fund. Kedaara is also expanding its investment focus to include the intersection of health and consumers, as well as exploring opportunities between India and the US. [Extracted from the article]

UBS Group AG is adding nearly $20 billion in capital to its regulatory reserves as it integrates Credit Suisse's business, according to CEO Sergio Ermotti. This increase in capital is happening regardless of the Swiss government's plans to raise requirements from next year. The Swiss government aims to make the country's banking system stronger after Credit Suisse's downfall last year, and UBS could potentially face an additional $20 billion in required capital as a result. The capital and liquidity requirements in Switzerland are separate from the global rules known as Basel III, which UBS and other global banks must also adhere to. UBS has stated that it is too early to speculate on the impact of the Swiss banking reforms and will need to see the full picture before responding. Despite the potential changes to its capital requirement, UBS plans to continue its share buyback program. The bank will buy back up to $2 billion of its shares over the next two years. UBS emphasizes that investors bear the costs and risks to ensure that taxpayers are not affected in the unlikely event of a major systemic event. [Extracted from the article]

Diameter Capital Partners, an investment firm based in New York, is returning some money to clients in order to maintain flexibility in a high interest-rate environment. The firm has raised $1.6 billion for its debut private credit vehicle and may return up to 10% of the assets in its Master Fund over time. This is the second time in three years that Diameter has reduced its investment pool. The firm has diversified into private strategies in recent years and has a hedge fund, dislocation funds, structured credit, and direct lending businesses. Diameter's Master Fund returned 2.9% in the first quarter, and its long-only dislocation fund gained 4.1%. [Extracted from the article]

Diameter Capital Partners, an investment firm based in New York, is returning some money to clients in order to maintain flexibility in a high interest-rate environment. The firm has raised $1.6 billion for its debut private credit vehicle and may return up to 10% of the assets in its Master Fund over time. This is the second time in three years that Diameter has reduced its investment pool. The firm has diversified into private strategies in recent years and has a hedge fund, dislocation funds, structured credit, and direct lending business. [Extracted from the article]

Hidden Road Partners, a startup prime brokerage backed by Citadel Securities, is seeking to raise new funds in the digital-asset market. The company is currently in talks to raise a series B equity round that would value it at around $1 billion. Hidden Road provides prime-brokerage services for various markets, including cryptocurrencies and foreign exchange. The demand for financing and counterparty risk management services offered by crypto prime brokers has increased as the market recovers from the credit crunch caused by the collapse of lending firms in 2022. The venture-capital investment environment for digital asset companies has improved significantly, with VC investments in crypto startups reaching $2.5 billion in the first quarter of 2024. [Extracted from the article]

UBS Group AG, a Swiss bank, may face an increase in regulatory capital requirements of $15 billion to $25 billion. This comes as part of proposed reforms following the collapse of Credit Suisse. The Swiss government is suggesting that systemically-important Swiss banks, particularly UBS, hold more capital against their foreign units and increase bank-specific capital levels to account for future risks. UBS shares have dropped in response to these proposals, and analysts have expressed concerns about the impact on the bank's share buybacks and uncertainty around capital planning. UBS executives have argued against the need for more capital, stating that excessive capital would penalize shareholders and clients. These reforms are part of a broader response to Switzerland's financial crisis. [Extracted from the article]

UBS Group AG may need to increase its regulatory capital requirements by $15 billion to $25 billion, according to Swiss Finance Minister Karin Keller-Sutter. These potential capital needs are a result of proposed reforms following the collapse of Credit Suisse. The Swiss Federal Council is suggesting that systemically-important Swiss banks should hold more capital against their foreign units and increase bank-specific capital levels to account for future risks. These proposals are part of a broader response to Switzerland's recent financial crisis. [Extracted from the article]

Mavik Capital Management LP is seeking to raise $515 million for a new fund called Mavik Real Estate Special Opportunities VS2. The fund aims to finance US middle-market commercial real estate, which has been facing a liquidity shortage due to regional banks pulling back from the space. Mavik is creating this fund as regional banks retreat amid tougher regulatory requirements and higher interest rates, pushing borrowers towards private credit lenders. Mavik's investors include pension funds, family offices, and institutional investors such as Blackstone. [Extracted from the article]

Kenya Airways is seeking to raise up to $1.5 billion in fresh capital to revive the struggling airline and reduce its reliance on government support. The company is looking for a strategic investor and has no specific preferences in terms of origin. Kenya Airways reported its first operating profit in six years and narrowed its annual loss by 41%. The airline has been on the brink of collapse and needs to return to profitability to compete with regional rivals. While it can now operate without direct government funding, this is not a sustainable long-term solution. Kenya Airways also has $10 million in revenue trapped in Nigeria, Burundi, Ethiopia, and Malawi due to foreign exchange supply issues. [Extracted from the article]

Hack VC, a venture capital firm based in New York, is raising at least $100 million for a new fund that will focus on seed-stage investments in cryptocurrency startups. This comes as digital asset prices are increasing after a period of decline. Hack VC has previously raised a $150 million fund and a $200 million fund in 2022. Other crypto-native VC firms are also taking advantage of the current market conditions, with Hivemind Capital working on a $50 million nonfungible token fund and Framework Ventures co-leading a $69 million round for the Berachain blockchain platform. However, despite the optimism in the VC space, crypto startup funding experienced a significant decline in 2023, dropping to $9.5 billion globally compared to the previous year. Venture firms in crypto raised only $5.8 billion in 2023, down from $37.7 billion in 2022 and $20.6 billion in 2021. [Extracted from the article]

Moody's Investors Service has raised New York Community Bancorp's credit rating after the bank received a capital injection from investors led by Steven Mnuchin. However, the rating remains in junk territory. Moody's cited the bank's unqualified audit opinion and the capital injection as reasons for the upgrade. The bank still faces challenges in governance, financial profile, risk management, and internal controls. The outlook for the bank's rating has been changed to positive. [Extracted from the article]

Hivemind Capital Partners, a New York-based investment firm, is raising $50 million for a fund focused on the intersection of digital art and blockchain. The firm has already secured half of its target and plans to continue fundraising throughout 2024. Hivemind recently acquired assets from the portfolio of Starry Night Capital, an NFT fund launched by the founders of bankrupt crypto hedge fund Three Arrows Capital. While NFTs have experienced stress and weakness, Hivemind believes they will eventually catch up to other crypto assets. The fund is primarily interested in high-end art NFTs, with a focus on Ethereum-based projects. [Extracted from the article]

Liquid Death, a water brand based in Los Angeles, has raised new capital that values the company at $1.4 billion, double its valuation in 2022. The company has expanded into new categories such as iced tea and flavored waters, which have contributed to its continued momentum. The funding will be used for product development, including new flavors, and the company has already achieved success with its iced tea, becoming the top seller on Amazon.com. Liquid Death attributes its sales growth to its marketing strategy and its large following on TikTok and Instagram. The company is currently focused on profitability and growth, with no specific plans for an IPO or sale. [Extracted from the article]

Argyle, a fintech company that helps lenders verify income and employment data, has raised $30 million in a funding round led by Rockefeller Capital Management's innovation fund. The funding will be used to enhance the verification experience for new customers. Despite challenges faced by the financial technology industry, Argyle has managed to secure funding and counts LendingClub Corp., Upgrade Inc., and AmeriHome among its customers. The funding round was completed in January. [Extracted from the article]

Argyle, a fintech company that helps lenders verify income and employment data, has raised $30 million in a funding round led by Rockefeller Capital Management. This brings Argyle's total funding to over $100 million. The capital will be used to enhance the verification experience for new customers. The financial technology industry has faced challenges due to higher interest rates and limited funding, but Argyle and other companies like Stripe Inc. have managed to find success. The funding round also included participation from Bain Capital's venture capital division, SignalFire, and Checkr Inc., with Argyle counting LendingClub Corp., Upgrade Inc., and AmeriHome as customers. [Extracted from the article]

General Atlantic has successfully raised $2.7 billion for its second strategic capital fund, which is 23% more than its previous fund. The fund, known as Atlantic Park Strategic Capital Fund II, aims to achieve annualized net returns of 15% by investing in companies with enterprise values ranging from $500 million to $2 billion. The fund has the flexibility to invest in various structured finance products to support management buyouts, shareholder recapitalizations, acquisitions, and other transactions. Other alternative-asset managers, such as Coatue Management and Apollo Global Management, also engage in similar structured equity and debt investments. [Extracted from the article]

The Riksbank, Sweden's central bank, has announced that it may only need half of the previously estimated funds to restore its equity. The bank expects to make a profit of 16 billion kronor ($1.6 billion) for 2023 and has decided not to make any financial risk provisions for the year. The main reason for this improvement is a decline in market interest rates and gains from currency sales. The Riksbank's equity will remain negative, but it now estimates that it will need around 40 billion kronor to restore it, compared to the previous estimate of 80 billion kronor. The bank will submit a petition to parliament in March to specify its needs based on its equity and reported results for 2023. [Extracted from the article]

Malaysia's Capital A Bhd., the parent company of budget carrier AirAsia, is planning to merge its aviation business with its long-haul affiliate, AirAsia X Bhd. This move is aimed at streamlining operations and improving access to financing. The company is also seeking to exit its financially distressed status and has requested until June to submit a plan to Malaysia's stock exchange. The separation of the airline business from Capital A will allow investors to better value the non-aviation unit, and the group plans to have a fleet of 33 planes by 2028. [Extracted from the article]

Malaysia's Capital A Bhd., the parent company of budget carrier AirAsia, plans to merge its aviation business with its long-haul affiliate, AirAsia X Bhd. The move is aimed at streamlining operations and improving access to financing. Capital A is seeking to exit its financially distressed status and has until June to submit a plan to Malaysia's stock exchange. The company also announced the appointment of two deputy CEOs as part of its corporate restructuring. [Extracted from the article]

Nigerian electricity companies are facing a capital shortfall of $2.5 billion, hindering their ability to provide power to the country's 200 million residents. The companies are burdened with debt and lack the necessary funds to invest in electricity distribution. Inadequate pricing, poor revenue collection, and an outdated national grid have resulted in most Nigerians relying on generators for power. The government aims to attract new investors and implement policies to reorganize and recapitalize the industry. Additionally, plans to make electricity tariffs cost-reflective are underway to improve the sector's financial viability. [Extracted from the article]

Israel has killed Saleh Al-Arouri, a senior leader of Hamas, in an apparent drone strike in Beirut. Al-Arouri was the mastermind behind Hamas' armed wing in the West Bank and his death marks the first attack on the Lebanese capital in nearly two decades. Lebanon's caretaker Prime Minister condemned the attack as an Israeli crime and called on relevant parties to pressure Israel to stop its attacks. The southern suburbs of Beirut are known to be a support base for Hezbollah, an Iran-backed group that has supported Hamas in the past. Israel has accused Al-Arouri of masterminding militant attacks and acting as a liaison between Hamas, Iran, and Hezbollah. [Extracted from the article]

Chinese lawmakers have revised the country's Company Law to implement stricter capital rules for registering new firms. The changes, which will take effect on July 1, 2024, aim to address loopholes in corporate governance and prevent financial risks. Under the revised law, shareholders will be required to inject the declared amount of capital within five years, with a potentially shorter time limit for certain key industries. The amendments were made to promote responsible shareholder behavior and create a more robust business environment. While some entrepreneurs and lawyers have expressed concerns about the change, it is unlikely to impact state-owned enterprises and publicly listed companies. The new law's impact on existing companies that have registered but have not yet made full capital contributions is still unclear. [Extracted from the article]

Following a fuel depot explosion in the business district of Kaloum in Conakry, Guinea, the government has requested that public offices and businesses in the capital remain closed. The cause of the explosion is currently under investigation. Guinea is a major producer of bauxite, a key ingredient in aluminum production, and also possesses the world's largest untapped iron ore deposit. The country has been under the rule of President Mamadi Doumbouya, an army colonel who came to power through a military coup in September 2021. [Extracted from the article]

Engaged Capital, an activist investor, has acquired a stake in medical devices company Nevro Corp. They are calling for Nevro to improve profitability and halt any additional acquisitions. Engaged Capital, which owns over 5% of the company, has had discussions with Nevro and may nominate directors to the board. Nevro, based in California, develops implanted devices for treating chronic pain. Engaged Capital believes that Nevro should focus on its core business turnaround before pursuing further acquisitions. They also see Nevro as a potential acquisition target for a larger competitor. [Extracted from the article]

Sweden's National Audit Office has criticized the Riksbank's asset purchases, stating that they were inefficient and costly. The central bank's bond losses will require a significant recapitalization. The Riksbank began buying government bonds in 2015 to stimulate inflation and expanded its purchases during the pandemic. However, these purchases have faced criticism for undermining the fixed-income market and potentially fueling excessive borrowing. The Riksbank is expected to need a capital injection of around 80 billion Swedish kronor ($7.3 billion) to restore its equity. The bank has since ended its purchases and started selling government bonds. [Extracted from the article]

US oil producers are expected to reduce their capital spending in 2024, indicating a potential slowdown in shale output growth. According to Evercore ISI, capital spending will only increase by 2% in 2024, compared to a 19% increase this year. The industry is projected to spend around $115 billion on oil and gas production next year, similar to 2019 levels. This shift in spending is expected to result in a global increase in capital spending, with a focus on the international market. US crude production is predicted to rise by 150,000 barrels per day in 2024, significantly lower than the 1 million barrels per day increase seen this year. [Extracted from the article]

Japanese businesses have shown resilience by increasing their investment, according to the finance ministry. Capital expenditures on goods, excluding software, rose by 0.3% in the three months through September compared to the previous quarter. Spending on equipment, including software, also increased by 3.4% from the previous year. This data will be considered when revising the initial reading of the country's gross domestic product, which showed a contraction of 2.1% on an annualized basis. [Extracted from the article]

Chinese President Xi Jinping has pledged to improve the business environment for foreigners in China, including measures to protect the rights of international investors and make it easier for foreign companies to invest and operate in the country. In a speech delivered at a CEO forum in California, Xi emphasized the importance of creating a "world-class business environment" and mentioned the "American people" multiple times, indicating a desire to strengthen ties with the United States. While China's economy is facing challenges and foreign capital is being driven away, Xi expressed confidence in the country's economic growth and vowed to address concerns raised by foreign firms, such as data laws and transparency. [Extracted from the article]

Bain Capital LP has successfully raised $7.1 billion for its new buyout fund focused on the Asia-Pacific region, despite concerns about the economy and geopolitical tensions. The fund received $6.3 billion from investors and an additional $750 million from its employees. Bain has been expanding its investments in countries like India and Japan to diversify away from China, which has become more challenging for private equity funds. This fundraising success comes at a time when private capital fundraising in Asia Pacific is at a decade low, with investors shifting away from China-focused funds. [Extracted from the article]

(Bloomberg) -- Metro Bank Holdings Plc said deposit trends had normalized following a rescue deal in October that had triggered outflows. "Metro Bank noted an increase in deposit outflow rates in advance of the announcement of the capital package", the company said in a statement Tuesday. [Extracted from the article]

Most of that capital infusion, disclosed Tuesday in City National's quarterly call report filed with US regulators, came in conjunction with Toronto-based Royal Bank purchasing debt securities with unrealized losses from City National. (Bloomberg) -- Royal Bank of Canada has injected $2.95 billion into City National Bank so far this year as part of an effort to clean up the California subsidiary's balance sheet, according to a new regulatory filing. [Extracted from the article]

(Bloomberg) -- Husk Power Systems, owner of the world's largest number of mini-grids, said it raised $103 million to help pay for a more than sevenfold expansion in India and Africa - a record funding round for any company in its industry. Husk was founded in 2008 in Bihar, Sinha's home state, and entered Nigeria three years ago. "Nigeria is huge" and has adopted the same regulations as India regarding mini-grids, making expansion easier, Sinha said. [Extracted from the article]

(Bloomberg) -- Top US financial regulators on Friday delayed a deadline for comments on their sweeping plan to impose tighter capital rules on big banks. The Fed simultaneously announced it would push back the deadline for comments on a proposal to revise the capital surcharge for the eight largest banks. [Extracted from the article]

VinFast will look to raise "a lot of capital" in the future for development and expansion plans, Thuy said. (Bloomberg) -- Vietnamese electric vehicle maker VinFast Auto Ltd. plans to aggressively move into Southeast Asian markets, starting with Indonesia, and expects to eventually raise "a lot of capital" to fuel its global expansion plans, according to Chief Executive Officer Le Thi Thu Thuy. [Extracted from the article]

(Bloomberg) -- Vietnamese electric vehicle maker VinFast Auto Ltd. plans to aggressively move into Southeast Asian markets, starting with Indonesia, and expects to eventually raise "a lot of capital" to fuel its global expansion plans, according to Chief Executive Officer Le Thi Thu Thuy. VinFast's key shareholders VIG and Asian Star Trading & Investment Ltd. expect to sell 46 million VinFast shares, according to a previous company statement. [Extracted from the article]

Juventus approved a €400 million capital increase in 2021 as part of an effort to offset pandemic-related fallout and completed a €300 million increase in 2019. Juventus Shares Plunge After Club Details €200 Million Capital Raise Plan (Bloomberg) -- Juventus Football Club SpA fell the most in more than four years in Milan after the team said Friday that it's planning a €200 million ($211 million) capital increase. [Extracted from the article]