Core Insights - Compass Diversified's stock dropped 59% following the announcement that its 2024 financial statements are no longer reliable due to irregularities at its Lugano Holding subsidiary [1][2][4] - An internal investigation into Lugano's financing and accounting practices has revealed significant irregularities, leading to a delay in the filing of the first quarter 2025 financial report and a restatement of 2024 results [2][4] - The founder and CEO of Lugano, Moti Ferder, resigned without severance amid the fallout from the investigation [3] Investigation Details - Hagens Berman is investigating potential violations of U.S. securities laws related to Compass Diversified, focusing on whether shareholders were misled [5][6] - The investigation is scrutinizing the company's disclosures and practices, particularly in light of the accounting irregularities at Lugano [6] Company Response - Compass Diversified's CEO, Elias Sabo, emphasized that the issues uncovered do not reflect the company's values and indicated a commitment to addressing the situation [4] - The company is taking steps to distance itself from the conduct of its subsidiary, Lugano [4]

Core Viewpoint - Compass Diversified's stock plummeted 59% following the announcement that its 2024 financial statements are unreliable due to irregularities at its Lugano Holding subsidiary [1][2]. Group 1: Financial Irregularities - An internal investigation into Lugano's financing and accounting practices has revealed significant irregularities, leading to a delay in filing the first quarter 2025 financial report and a restatement of 2024 results [2][4]. - The investigation is being conducted by outside counsel and a forensic accounting firm, which has already identified issues with Lugano's inventory and non-Compass financing arrangements [2][4]. Group 2: Leadership Changes - Moti Ferder, the founder and CEO of Lugano, resigned from all positions on May 7 and will not receive severance [3]. Group 3: Company Response - Elias Sabo, CEO of Compass Diversified, stated that the findings from the investigation do not reflect the company's values and emphasized the seriousness of the issues at Lugano [4]. Group 4: Legal Investigations - Hagens Berman is investigating potential violations of U.S. securities laws related to Compass Diversified, focusing on whether shareholders were misled and if the company's disclosures met federal obligations [5][6].

Core Viewpoint - Hamilton Lane Incorporated is set to release its financial results for the fourth fiscal quarter and full fiscal year on May 29, 2025, before market opening [1] Group 1: Financial Results Announcement - The financial results will cover the period ended March 31, 2025 [1] - A conference call via webcast is scheduled for 11:00 a.m. ET on May 29 to discuss these results [2] - A replay of the webcast will be available approximately two hours after the live broadcast for one year [3] Group 2: Company Overview - Hamilton Lane is one of the largest private markets investment firms globally, with over 30 years of exclusive focus on private markets investing [4] - The firm employs around 740 professionals across North America, Europe, Asia Pacific, and the Middle East [4] - As of December 31, 2024, Hamilton Lane has $956 billion in assets under management, including nearly $135 billion in discretionary assets and over $821 billion in non-discretionary assets [4] - The company specializes in creating flexible investment programs that provide access to a wide range of private markets strategies, sectors, and geographies [4]

Core Viewpoint - Northfield Capital Corporation has engaged Independent Trading Group to provide market-making services to enhance liquidity and maintain a reasonable market for its shares, pending regulatory approval [1][2]. Group 1: Engagement Details - The agreement with ITG includes a monthly compensation of CAD$5,000, with an initial term of six months and automatic one-month renewals unless terminated [2]. - Either party can terminate the agreement with a 30-day notice, and there are no performance factors or equity compensation involved [2]. Group 2: Company Background - Northfield Capital Corporation is a publicly traded investment firm with a focus on resources, mining, aviation, and premium alcoholic beverages, founded in 1981 [4]. - The company aims to foster growth and innovation in businesses that contribute to economic prosperity in Canada [4]. Group 3: ITG Overview - Independent Trading Group is a Toronto-based dealer-member specializing in market making, liquidity provision, and algorithmic trading solutions, established in 1992 [3]. - ITG utilizes proprietary technology to deliver high-quality liquidity and execution services to public issuers and institutional investors [3].

Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on Ares Capital (ARCC), and highlights the potential misalignment of interests between brokerage firms and retail investors [1][5][10]. Group 1: Brokerage Recommendations for Ares Capital - Ares Capital has an average brokerage recommendation (ABR) of 1.46, indicating a consensus between Strong Buy and Buy, with 69.2% of recommendations being Strong Buy and 15.4% being Buy [2][4]. - Despite the positive ABR, relying solely on this information for investment decisions may not be advisable, as studies show brokerage recommendations often fail to guide investors effectively [5][10]. Group 2: Limitations of Brokerage Recommendations - Brokerage analysts tend to exhibit a strong positive bias in their ratings due to vested interests, leading to a disproportionate number of Strong Buy recommendations compared to Strong Sell [6][10]. - The interests of brokerage firms may not align with those of retail investors, suggesting that brokerage recommendations provide limited insight into future stock price movements [7][10]. Group 3: Zacks Rank as an Alternative - The Zacks Rank, which classifies stocks based on earnings estimate revisions, is presented as a more reliable indicator of near-term price performance compared to ABR [8][11]. - The Zacks Rank is updated more frequently and reflects timely changes in earnings estimates, making it a better tool for predicting future stock prices [12]. Group 4: Current Earnings Estimates for Ares Capital - The Zacks Consensus Estimate for Ares Capital has declined by 0.6% over the past month to $2.17, indicating growing pessimism among analysts regarding the company's earnings prospects [13]. - This decline in earnings estimates has resulted in a Zacks Rank of 4 (Sell) for Ares Capital, suggesting caution despite the positive ABR [14].

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Patria Investments, driven by higher revenues, with a focus on how actual results will compare to estimates [1][2]. Earnings Expectations - The earnings report is expected on May 2, 2025, with a consensus EPS estimate of $0.25, reflecting a +19.1% change year-over-year, and revenues projected at $81.42 million, up 34.4% from the previous year [3][2]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a stable outlook from covering analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the Most Accurate Estimate for Patria Investments is lower than the consensus estimate, resulting in an Earnings ESP of -8%, indicating a bearish sentiment among analysts [10][11]. Historical Performance - In the last reported quarter, Patria Investments exceeded the expected EPS of $0.37 by delivering $0.58, resulting in a surprise of +56.76%. However, the company has only beaten consensus EPS estimates once in the last four quarters [12][13]. Conclusion - Given the current Earnings ESP and Zacks Rank of 4, Patria Investments does not appear to be a strong candidate for an earnings beat, suggesting that investors should consider additional factors before making investment decisions [16].

NEW YORK, April 25, 2025 (GLOBE NEWSWIRE) -- StepStone Group Inc. (Nasdaq: STEP), a global private markets investment firm focused on providing customized investment solutions and advisory and data services, today announced that it has raised $705 million for StepStone Tactical Growth Fund IV (“STGF IV” or the “Fund”), the firm’s fourth fund focused on opportunities within the growth equity market. The Fund had strong participation from a range of investor types including sovereign wealth funds, public pens ...

Core Insights - Wendel's fully diluted Net Asset Value (NAV) per share as of March 31, 2025, is €176.7, reflecting a decrease of 4.8% since the beginning of the year due to market volatility and changes in valuation multiples [5][9][8] - The company has successfully raised €3.4 billion in Q1 2025, contributing to a total of €34 billion in assets under management (AUM) following the acquisition of Monroe Capital [20][6][19] - A proposed dividend of €4.70 per share represents a 17.5% increase, demonstrating the company's strong financial structure and commitment to maintaining an investment-grade rating [3][4] Financial Performance - Wendel's principal investments showed positive total sales growth in Q1 2025, with the exception of Scalian, which reported a decline of 6.3% [10][38] - Bureau Veritas, a key investment, achieved revenue of €1,558.7 million in Q1 2025, marking an 8.3% increase compared to the same period in 2024 [24][25] - IK Partners reported a 33% increase in revenues for Q1 2025, contributing to the overall positive performance of Wendel's asset management activities [21][22] Strategic Developments - The acquisition of Monroe Capital has positioned Wendel as a significant player in third-party asset management, enhancing its value creation profile [6][19] - A successful forward sale of 6.7% of Bureau Veritas' share capital generated net proceeds of €750 million, improving Wendel's loan-to-value (LTV) ratio to 17.2% [17][7] - Wendel's strategic roadmap aims to reach €150 million in pre-tax fee-related earnings (FRE) by 2027, with current projections indicating €100 million in 2025 [20][19] Market Conditions - The market environment in Q1 2025 was characterized by increased uncertainty due to geopolitical and trade tensions, impacting organic growth across various sectors [33][43] - Currency fluctuations and market multiples have negatively affected the valuation of unlisted assets, contributing to a decline in NAV [11][5] - Despite challenges, Bureau Veritas maintains a robust outlook, expecting mid-to-high single-digit organic revenue growth for the full year 2025 [30][28]

Core Viewpoint - Carlyle Secured Lending, Inc. will announce its financial results for the first quarter of 2025 on May 6, 2025, followed by a conference call on May 7, 2025 [1][2]. Company Overview - Carlyle Secured Lending, Inc. is a publicly traded business development company (BDC) that began investing in 2013, focusing on senior secured lending to middle-market companies primarily in the United States [3]. - The company is externally managed by Carlyle Global Credit Investment Management L.L.C., a wholly owned subsidiary of Carlyle [3]. - Carlyle, as a global investment firm, manages $441 billion in assets as of December 31, 2024, and operates across three business segments: Global Private Equity, Global Credit, and Global Investment Solutions [4].

Core Points - Wendel has scheduled its Shareholders' Meeting for May 15, 2025, at 3 p.m. Paris time [1] - The notice of the meeting has been published in the Bulletin des Annonces Légales et Obligatoires and is available on Wendel's website [2] - Additional documents and information regarding the meeting will be accessible to shareholders starting April 24, 2025, and the meeting will be available via webcast [3] Agenda - April 24, 2025: Q1 2025 Trading update and publication of NAV as of March 31, 2025 [4] - May 15, 2025: Annual General Meeting [4] - July 30, 2025: H1 2025 results and publication of NAV as of June 30, 2025 [4] - October 23, 2025: Q3 2025 Trading update and publication of NAV as of September 30, 2025 [4] - December 12, 2025: 2025 Investor Day [4] Company Overview - Wendel is a leading listed investment firm in Europe, focusing on companies that are leaders in their respective fields [5] - In 2023, Wendel initiated a strategic shift towards third-party asset management of private assets, complementing its principal investment activities [5] - Wendel completed the acquisition of a 51% stake in IK Partners in May 2024 and announced the acquisition of 75% of Monroe Capital in October 2024, managing over 33 billion euros on behalf of third-party investors post-acquisition [5] Ratings and Recognition - Wendel is listed on Eurolist by Euronext Paris and holds a Standard & Poor's long-term rating of BBB with a stable outlook [6] - The company has been recognized for its long-term patronage of the arts, receiving the distinction of "Grand Mécène de la Culture" in 2012 [6]