|Bid||24.50 x 800|
|Ask||24.52 x 800|
|Day's range||24.43 - 24.84|
|52-week range||15.21 - 34.98|
|Beta (5Y monthly)||1.49|
|PE ratio (TTM)||N/A|
|Earnings date||29 Oct 2020 - 02 Nov 2020|
|Forward dividend & yield||1.00 (4.08%)|
|Ex-dividend date||10 Aug 2020|
|1y target est||30.93|
(Bloomberg) -- Carlyle Group Inc. co-founder David Rubenstein said U.S.-China relations are at their lowest since the 1989 Tiananmen crackdown, but are likely to improve after the U.S. elections.Rubenstein is the latest to weigh in on tensions between the two countries, which companies including TikTok owner ByteDance Ltd. and HSBC Holdings have had to grapple with. The U.S. private equity giant manages about $221 billion in assets.“Whoever is elected president, the relationship will improve,” Rubenstein said at the SuperReturn Asia Virtual conference on Tuesday. “Things will be said during a campaign that are not really meant to be taken as seriously after the campaign is over.”If Joe Biden wins, Rubenstein said he suspects more displeasure will be expressed by the U.S. administration on Hong Kong and the security law there, and human rights issues in China.U.S and China have had a “pretty good” relationship in private equity, and Rubenstein sees deal activity picking up after the elections.“A number of American firms are investing heavily, including my own firm, in China,” said Rubenstein.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Carlyle Group Inc., the alternative asset manager overseeing $221 billion, is buying a majority stake in clinical data company TriNetX Inc.Equity capital for the investment came from the $18.5 billion private equity fund, Carlyle Partners VII, the company said Monday, declining to comment on deal terms.Closely held TriNetX has built a global network of research hospitals and academic institutions, biotechnology and drug companies, contract research organizations and other specialty data partners. Carlyle’s investment will help the company, founded in 2013, bring more technologies such as artificial intelligence and machine learning to researchers, according to Gadi Lachman, chief executive officer of Cambridge, Massachusetts-based TriNetX.TriNetX is positioned to “have an impact on human health and reduce the time and costs involved in bringing new drugs to market,” Joe Bress, a principal specializing in health care at Washington-based Carlyle, said in an interview.The deal adds to Carlyle’s growth investments in the health-care industry. The firm said earlier this month it led a $175 million round for Grand Rounds. Carlyle also backed 1Life Healthcare Inc., the primary-care clinic chain that went public in January. Other deals have focused more broadly on technology. The firm backed ZoomInfo Technologies Inc., which went public in June, and completed the sale of automation provider Eggplant Software to Keysight Technologies Inc. later that month.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Investor demand for Reliance Industries Ltd.’s retail business is so strong that Carlyle Group Inc. and SoftBank Group Corp. are among those that have been put onto a waiting list, according to people familiar with the matter.Carlyle and SoftBank have recently expressed interest in investing in Mukesh Ambani’s Reliance Retail Ventures Ltd., said the people, who asked not to be identified as the information is private. Reliance Industries has asked the two companies to wait on the sideline since the Indian conglomerate is already in advanced talks with other financial investors, the people said.Ambani is tapping the backers of his digital services business, which has secured $20 billion in recent months, as he seeks funding for Reliance Retail. Silver Lake Partners, an investor in Jio Platforms Ltd., last week agreed to chip in $1 billion. Other Jio investors, including private equity funds KKR & Co. and L Catterton, are also considering investing, Bloomberg News has reported.Abu Dhabi’s Mubadala Investment Co., which is a Jio investor as well, is weighing an investment of about $750 million in Reliance Retail, the people said. Abu Dhabi Investment Authority and Saudi Arabia’s Public Investment Fund are also mulling investments, one of the people said.The strong response from Jio’s financial investors means there’s not enough for others. Reliance Industries plans to sell about a 10% stake in Reliance Retail to financial investors and almost all the $5.7 billion worth of shares have been taken up, the people said.The largest allocation is reserved for Amazon.com Inc., Bloomberg News reported last week. Ambani is offering to sell a roughly $20 billion stake in the retail business to the U.S. tech giant, which could be equivalent to as much as a 40% holding. A deal, if successful, would be the biggest ever in India as well as for Amazon, according to data compiled by Bloomberg.Read more: Big Tech’s India Plans Can’t Seem to Bypass Asia’s Richest ManPotential investors including Carlyle and SoftBank could still get their hands on Reliance Retail shares should others cut their commitments, the people said. Negotiations are ongoing and could still be delayed or fall apart, the people said.Representatives for Reliance, Carlyle, SoftBank, ADIA, Mubadala and PIF declined to comment.Ambani has identified technology and retail as future growth areas in a pivot away from the energy businesses he inherited from his father, who died in 2002. Retail is the next frontier for the 63-year-old Indian tycoon, whose ambitions include creating a home-grown e-commerce giant like China’s Alibaba Group Holding Ltd.Shares of Reliance Industries have risen about 53% this year, giving the conglomerate a market value of about $207 billion.(Updates PIF’s response in the eighth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.