人民财讯11月18日电，企查查APP显示，近日，成都高新聚芯科技产业投资有限公司成立，法定代表人 为杨湉，注册资本为1000万元，经营范围包含：以自有资金从事投资活动。企查查股权穿透显示，该公 司由成都产业投资集团有限公司、成都高新投资集团有限公司等共同持股。 ...

NEW YORK, Nov. 17, 2025 (GLOBE NEWSWIRE) -- BCP Investment Corporation (NASDAQ: BCIC) (“BCIC” or the “Company”) today announced that it commenced a modified “Dutch Auction” tender offer on November 12, 2025 to purchase for cash up to an aggregate of $9.0 million of shares of its common stock, par value $0.01 per share (the “shares”), at a price per share specified by tendering stockholders of not less than $13.63 and not more than $14.93, in cash, less any applicable withholding taxes and without interest. ...

With the Bitcoin price crashing more than 10% on the weekly chart, veteran investor Robert Kiyosaki is once again defending the asset class, calling it “people’s money.” His recent comments come in mild criticism of the oracle of Omaha, Warren Buffett. In his recent post on X platform, Kiyosaki points out risks in traditional financial markets and US equities, just as Buffett buys $4.3 billion worth of Alphabet (NASDAQ: GOOG) shares. Robert Kiyosaki Reiterates Support for Bitcoin Despite Warren Buffett’s ...

Hong Kong, Hong Kong--(Newsfile Corp. - November 17, 2025) - Queen's Road Capital Investment Ltd. (TSX: QRC) (the "Company" or "QRC") is pleased to announce it has recorded after-tax earnings of US$115 million or C$3.25 per share for the fiscal year ended August 31, 2025, representing a Price-to-Earnings ratio of 2.4x at August 31, 2025.QRC ended the year with a US$213 million portfolio of convertible debentures as well as US$130+ million of highly liquid equity investments. Today, the convertible debentur ...

Core Insights - Naspers Limited and Prosus N.V. are anticipating substantial increases in key earnings metrics for the six-month period ended 30 September 2025, with a strong focus on profitability and operational performance [1][2][12] Financial Performance - The trading statements indicate a powerful financial performance, with earnings per share (EPS) expected to rise between 30.2% and 37.2%, core headline earnings per share (CHEPS) projected to increase between 20.8% and 27.8%, and headline earnings per share (HEPS) expected to grow between 5.6% and 12.6% [5][7] - For Naspers, EPS is expected to increase between 33.3% and 40.5%, CHEPS between 21.5% and 28.5%, and HEPS between 6.5% and 13.5% [5][7] Strategic Growth - The companies attribute their strong growth to revenue and profitability from consolidated Ecommerce businesses and equity-accounted investments, particularly Tencent [3][4] - The adoption of "The Prosus Way" culture emphasizes discipline and innovation, contributing to long-term growth and a combined ecosystem serving approximately 2 billion consumers [4] Adjusted Metrics and Non-Operational Gains - The significant increase in EPS is influenced by a one-off event related to the sale of Tencent shares, which is excluded from the lower headline and core headline earnings figures [8][12] - A distinction exists between HEPS and CHEPS due to currency fluctuations, with CHEPS showing higher growth as it excludes foreign currency translation losses [9][10] Complexity of Earnings Definitions - Core Headline Earnings (CHEPS) is a non-IFRS performance measure that involves numerous adjustments to headline earnings, excluding specific non-operating items [10][12] - The adjustments include excluding fair-value adjustments, one-off gains and losses, and amortization of intangible assets [13]

Core Insights - Adams Street Partners has launched its Hong Kong office to capitalize on the city's role as a hub for international capital and cross-border transactions [1] - The firm aims to be closer to investors and emerging investment opportunities in Hong Kong, as more companies establish operations or prepare for listings in the city [2] - The new office will be staffed by three investment professionals and is part of a global network managing US$65 billion in assets [3] Industry Trends - The opening of Adams Street's office follows similar expansions by other Western financial firms, including Ardian and Jane Street Asia, indicating a trend of increased Western investment presence in Hong Kong [4] - Hong Kong's capital market has seen a significant rebound, with financing proceeds rising 2.6 times year-on-year, reaching HK$422 billion (US$54 billion), the highest level since 2021 [5] - Assets under management in Hong Kong have increased to HK$35.14 trillion in 2024, supported by a surge in net fund inflows, which rose 81% year-on-year to HK$705 billion [6] Company Strategy - Adams Street Partners focuses on private markets, investing in private-equity funds and directly into companies, having deployed US$7.5 billion in Asia, with about half invested in mainland China [7]

Core Insights - KKR has provided a bespoke financing solution amounting to $750 million to Chandra Asri Group, indicating a strong partnership and support for the company's growth initiatives [1] Group 1: Financing Details - The financing solution is tailored specifically for Chandra Asri Group, showcasing KKR's commitment to customized financial strategies [1] - This investment is expected to enhance Chandra Asri's operational capabilities and support its expansion plans in the petrochemical sector [1] Group 2: Strategic Implications - The partnership with KKR may position Chandra Asri Group favorably within the competitive landscape of the petrochemical industry, potentially leading to increased market share [1] - This financing could also signal confidence in the growth prospects of the Indonesian market, where Chandra Asri operates [1]

Core Insights - The fifth annual Palm Beach CorpGov Forum took place on November 5-6, featuring discussions on corporate governance, activism, IPOs, private equity, and venture capital [1][2] Group 1: Event Overview - The event included panels, fireside chats, and networking receptions, attracting over 300 attendees from various sectors including institutional investors, board directors, family offices, attorneys, investment bankers, and key advisors [3] Group 2: Panel Discussions - Panelists addressed the impact of recent economic, geopolitical, and regulatory changes on the investment landscape, as well as how governance has adapted in response to these variations [2] Group 3: Speakers - The forum featured a diverse lineup of speakers, including Josh Frank from Trian Fund Management, Andrew Keys from The Ether Machine, and Ken Traub from Comtech Telecommunications Corp, among others [4][5][6]

Core Viewpoint - Gladstone Investment Corporation plans to redeem all of its outstanding 8.00% Notes due 2028, indicating a strategic financial move to manage its debt obligations [1] Summary by Relevant Sections - **Redemption Announcement** - The Company will redeem all of its outstanding 8.00% Notes due 2028 [1] - A notice of redemption will be sent to all registered holders of the 2028 Notes by UMB Bank, National Association [1] - **Legal Framework** - The redemption is in accordance with the terms of the Indenture dated May 22, 2020, and the Fourth Supplemental Indenture dated May 31, 2023 [1]

Core Insights - Tax Receivable Agreements (TRAs) represent a unique asset class that combines features of debt and equity, providing holders with a stream of payments typically over 15 years, and have historically yielded around 20% per annum, nearly double that of comparable direct lending [1][2][33] Group 1: Understanding TRAs - TRAs are contracts between public companies and pre-IPO shareholders of partnerships, requiring the public company to pay a portion of specific tax savings to these shareholders over a set period [3][4] - The Up-C structure allows companies to maintain tax efficiency while going public, utilizing inefficiencies in the tax code to generate tax savings that are shared with LLC founders [7][10] - As of early 2025, approximately 150 publicly listed companies in the US had outstanding TRAs, with more than half established since 2020, indicating a growing trend in their use [22][58] Group 2: Market Dynamics and Investment Opportunities - The secondary market for TRAs has expanded, with around 8% of recent IPOs involving TRAs, up from less than 1% in 2005, suggesting increasing recognition and potential for investment [33][35] - TRAs currently have a combined value of approximately USD 30 billion, making them significant enough for specialized buyers to consider purchasing from existing owners [35] - Investors in TRAs can achieve returns of 18-22% per annum, which are generally uncorrelated with broader market movements, presenting a compelling opportunity for yield-seeking investors [36][37] Group 3: Legal and Structural Considerations - The complexity of TRAs and their structures can lead to legal challenges, particularly regarding the voting control of pre-IPO investors and potential conflicts of interest [45][46] - Recent cases highlight the scrutiny surrounding TRAs, with courts increasingly examining the fairness of transactions involving TRA terminations and payments [49][50] - Companies are increasingly opting to simplify their structures by terminating TRAs, which can enhance investability and create flexibility for future growth opportunities [42][48] Group 4: Future Outlook - The number of public companies utilizing TRAs is expected to grow, particularly as private equity and venture capital firms look to take their portfolio companies public [58][62] - As TRAs gain visibility, they may become a more mainstream investment class, similar to other asset classes like music and pharmaceutical royalties [62][63] - Investors are advised to monitor companies undergoing changes to their TRA structures, as these may present short- or long-term benefits [43]