Private Equity

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Hedge Fund Sculptor Received Other Bids at Higher Valuations

Sculptor Capital Managementreceived multiple takeover bids that were higher than the $639 million offer it ultimately accepted from Rithm Capital Corp. last month, the latest twist in a deal that’s divided Wall Street.

By Ambereen Choudhury

Spirit AeroSystems Investors Lose False Statements Suit Appeal

Spirit AeroSystems Holdings Inc. investors didn’t plead the level of intent necessary to show the company’s allegedly misleading statements about orders from the part maker’s client Boeing Co. and about its accounting controls amounted to securities fraud, a divided Tenth Circuit panel ruled.

AGL Credit Hires Carlyle, Apollo Alum Boswell for Direct Lending

AGL Credit Management LP, the firm founded by Peter Gleysteen and the late Thomas H. Lee, hired Taylor Boswell as it plots a push into direct lending, according to people with knowledge of the matter.

Matt Levine’s Money Stuff: Everyone Wants a Piece of Sculptor

If you are the CEO of a hedge fund firm that is publicly traded, then any other hedge-fund manager — or a bunch of them together — can try to buy your firm, get rid of you, and run your hedge fund themselves. And, really, why not?

Public Shale Mergers in Favor After Permian Deal, Analyst Says

Permian Resources Corp. agreeing to acquire Earthstone Energy at a $4.5 billion enterprise value shows there’s growing appetite for public deals in US shale following multiple large private equity transactions this year, which may no longer be appealing, analyst Enverus says.

BlackRock, Taconic Capital Eye Deal on Puerto Rico Utility Debt

Puerto Rico’s bankrupt utility, which needs to restructure nearly $9 billion of debt, is closing in on a deal with at least two bondholders as soon as this Friday.

Sculptor CEO Levin’s Pay Will Be Cut Under Rithm Deal Terms

Hedge fund firm Sculptor Capital Management Inc. said its deal to be acquired by Rithm Capital Corp. will cut Chief Executive Officer Jimmy Levin’s pay, a flash point in the long-running dispute between the publicly traded hedge fund firm and its founder.