Business

Plus: Bank failure post-mortems | Saturday, April 29, 2023   Open in app View in browser   Presented By Milken Institute   Axios Pro Rata By Kia Kokalitcheva · Apr 29, 2023 Good morning, readers! The banking turmoil is not over, and it looks like a third domino is about to fall. Read on... 🚨 Situational awareness: Banks including JP Morgan and PNC are reportedly vying to potentially acquire First Republic Bank, with final bids due to the FDIC by Sunday night. 👋 Reminder: Feel free to send me tips or comments by replying to this email or on Twitter @imkialikethecar . Today's Smart Brevity™ count is 1,399 words, a 5-minute read.     1 big thing: How FRB got here Illustration: Tiffany Herring/Axios   First Republic Bank is uniquely and consistently praised by its customers — mainl...

Plus, Silver Lake's challenge. | Friday, April 28, 2023   Open in app View in browser   Presented By Milken Institute   Axios Pro Rata By Dan Primack · Apr 28, 2023     Top of the Morning Illustration: Sarah Grillo/Axios   Running a bit behind this morning, due to an unfortunate meeting between my car tire and a nail. So just emptying the notebook... Allocations: We've spent time discussing how private equity and venture capital fundraising have been hampered over the past year by the denominator effect, whereby falling public equities reduce the real dollar value of other allocations. Now there are concerns about a further squeeze, as rising rates are causing some institutional investors to consider increasing their fixed income allocations at the expense of alternatives. Moving on: Some quiet depar...