Ares Management Corporation: Ares Management Announces Sale of Farrow & Ball to Hempel Group
Ares Management Corporation (NYSE:ARES) today announced that a fund managed by its Private Equity Group has signed a purchase agreement to sell Farrow Ball, a UK based manufacturer and retailer of premium paint and wallpaper, to Hempel Group. Terms of the transaction were not disclosed.
Farrow Ball is an iconic paint and wallpaper brand with a 75-year British heritage. Recognized as the authority on colour and interior design inspiration, Farrow Ball has become the premium brand of choice for consumers, designers and cultural institutions around the world. Its paints are crafted with rich pigments and precise techniques to deliver unmatched depth and consistency of colour. All Farrow Ball paints have an eco-friendly water base, are categorized as low or minimal VOC and score an A+ Indoor Air Quality rating. The brand has a highly engaged consumer base, which now includes an industry leadin
Australia’s Pendal Group to acquire value firm from BrightSphere
Bloomberg
Multiboutique manager Pendal Group will acquire Richmond, Va.-based value equity manager Thompson, Siegel & Walmsley from BrightSphere Investment Group, the firms said Monday.
Sydney-based Pendal will buy BrightSphere s 75.1% stake in TSW as well as management s 24.9% stake in the firm for a combined $320 million, a Pendal news release said.
The deal is expected to close during the third quarter, pending regulatory and customary approvals.
John Reifsnider, TSW s CEO, will become CEO of Pendal s combined U.S. business, taking over leadership of the group s other U.S. business, JOHCM USA, from Nick Good, who was named Pendal Group CEO in March.
KPMG in the UK has been sued for more than £6 million (â¬6.9 million) by property company Mount Anvil, which claims it was left with an unexpected tax bill after the Big Four firm gave it negligent advice.
Mount Anvil, a London-based homebuilder, said it had £3.9 million of extra tax liabilities that only came to light after HMRC launched an inquiry into the tax return of one of its subsidiaries in 2017, according to a legal document.
KPMG had prepared tax returns for Mount Anvil Group and its subsidiaries for the five financial years ended between 2012 and 2016.
Claim
The claim, filed in the High Court in London at the end of March, adds to KPMG UKâs regulatory and legal troubles. The accountant is already under investigation for its audits of collapsed outsourcer Carillion, engine maker Rolls-Royce and Conviviality, the owner of Bargain Booze, which went into administration in 2018.
The hedge fund executive has been sentenced to 6 months in prison for bankruptcy fraud
A New York federal judge has sentenced a prominent U.S. hedge fund manager to six months in prison for misconduct in the 2020 failure of luxury retailer Neiman Marcus.
Dan Kamensky, founder of Marble Ridge Capital, he pleaded guilty in February, a single $ 172 million allotted to Neiman’s unscrupulous creditors was improperly linked to an effort to secure a fraudulent charge.
Kamensky appeared in a socially distressed court appearance on Friday for the punishment he wore in a dark suit, accompanied by lawyer Joon Kim and a small group including his wife and son-in-law.
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