Trinity Investments Hires Citi Private Bank s Marc Rucinski and Casey Wilson to Lead Capital Raising and Investor Relations Functions benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
How AMPâs Pahari could make $50m on exit
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Institutional shareholders in AMP will not oppose a mammoth impending golden handshake for controversial rainmaker Boe Pahari, who is expected to leave AMP Capital with a payout in the tens of millions of dollars.
AMP is expected to bury any financial disclosure of the exit payout for Mr Pahari in costs for the companyâs impending spin-off of AMP Capital, although analysts are split on the likelihood of a $50 million golden handshake.
Boe Pahari will leave AMP as it spins off AMP Capital. Â
Shareholders and proxy advisors said the âcarryâ in AMP Capitalâs operations - the share of profit earned by a fund manager on the close of an investment - could be as high as $80 million, and Mr Pahari is entitled to a proportion of that.
AMP Capitalâs growth strategy in turmoil
AMP is expected to refuse to confirm the exact size of Boe Pahariâs payout at the wealth management giantâs annual general meeting on Friday.
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AMP Capitalâs growth strategy has been thrown into disarray, as a $US5 billion ($6.4 billion) capital raising for a new fund to take stakes in infrastructure projects has come under a cloud after the departure of controversial infrastructure equity boss Boe Pahari, at the same time as investors in a key property fund prepare to vote on whether to merge with a rival fund.
AMP had been planning a $US5 billion capital raising for its Global Infrastructure Fund III, although the deal had not yet been taken to market. But AMP insiders say that Pahariâs departure has now raised doubts as to whether the fund will be launched as planned.
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Emerges from Chapter 11 Process Having Eliminated Over $250 Million of Funded Debt Obligations
Company Now a Private Entity Under New Ownership and Guided by a New Board of Directors
DENVER, April 23, 2021 (GLOBE NEWSWIRE) Sundance Energy Inc. and its affiliates (“Sundance” or the “Company”), an onshore independent oil and natural gas company focused on the development of large, repeatable resource plays in North America, today announced that it has successfully completed its financial restructuring and implemented its prepackaged plan of reorganization (the “Prepackaged Plan”), which was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on April 19, 2021. Sundance has emerged from Chapter 11 protection in a strengthened financial position having eliminated over $250 million of funded debt obligations. Unsecured trade creditors will be paid in full in accordance with the Prepackaged Plan.