<ul><li>Mumbai Indians retained the top spot in the franchise brand rankings for the fifth consecutive year, with a brand value of INR 761.0 crore, down 5.9% from last year.</li><li>Chennai Super Kings (CSK) and Kolkata Knight Riders (KKR) have seen their brand value erode by approximately 16.5% and 13.7%, respectively, compared to last year.</li></ul>Duff &amp; Phelps, A Kroll Business, today released key findings from its IPL Brand Valuation Report 2020, a study of brand values in the Indian Premier League (IPL). 2020 was a challenging year with economic distress and uncertainty due to the COVID-19 pandemic. The sports economy was not immune to this crisis, and the pandemic disrupted the sporting calendar for the year, with a string of tournaments being postponed or cancelled. The IPL also felt the heat of the pandemic, and the findings of the seventh edition of this annual IPL study suggest that the IPL ecosystem value has decreased by 3.6% in constant currency terms to INR 45,800 crore from INR 47,500 crore last year. The individual franchisees have also witnessed a reduction in their brand values over the last year, mainly due to reduced franchisee-related sponsorship revenue, loss of gate receipts, reduced food and beverage (F&amp;B) revenue and certain teams’ on-field performances. “Similar to the impact on other businesses and the overall economy, the pandemic led to a decline in the IPL ecosystem value. However, with people forced to spend time at home, there was an increase in IPL television viewership. The 2020 edition was a huge success for broadcasters as it broke viewership and advertising revenue records. Television ratings skyrocketed and advertisers tapped into this opportunity to scale up their brand image. Despite the challenging year, this momentum is indicative of how strong the IPL brand has become,” said Santosh N, External Advisor, Duff &amp; Phelps India Pvt. Ltd. “With the economy opening and COVID-19 cases decreasing in India, we expect sponsorship deals to be back to their pre-COVID-19 levels. We have now entered a more stable phase in terms of the IPL ecosystem's value; the value appreciation is not expected at the rate of previous years. However, an increase in the number of teams in 2022 and the renewal of media rights in 2023 could enhance the IPL ecosystem value in the future,” Santosh added. Commenting on the future of the sports ecosystem in India, Varun Gupta, Managing Director and Asia Pacific Leader for Valuation Advisory Services at Duff &amp; Phelps, A Kroll Business said, “The IPL reflects the evolution of the modern cricket business, with clubs benefitting not only from the sport's enduring popularity in India but also from the game going global and from some great marketing initiatives. We believe that for growth trajectories to maintain their momentum, all teams need to continue broadening their footprint, forming relationships and generating revenue opportunities in growth markets.” In 2020, IPL season 13 has seen lower sponsorship revenues as compared to previous years (Dream11 paid INR 222 crores for the season, as against Vivo’s cancelled contract of INR 440 crores per season for the IPL title sponsorship). However, IPL’s impact on its sponsors/partners continues to be remarkable. Following the announcement of central sponsorships by the Board of Control for Cricket in India, the title sponsor Dream11 secured USD 225 million in funding, one of the official sponsors Unacademy joined the unicorn club with funding of USD 150 million, and another official sponsor CRED secured USD 80 million, bringing it closer to unicorn status.

The IPL ecosystem value has decreased by 3.6% to Rs 45,800 crore in 2020 from Rs 47,500 crore in 2019: Duff & Phelp

<ul class="summary-list"><li><keyword id="6355629" type="DEFINITION" weightage="60" keywordseo="google">Google</keyword> is to invest $4.5 billion into Indian internet company Jio Platforms, Google chief executive Sundar Pichai confirmed on Wednesday.</li><li>Jio Platforms owns <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s biggest telecoms provider <keyword id="6354504" type="DEFINITION" weightage="60" keywordseo="reliance-jio">Reliance Jio</keyword> as well as a suite of homegrown apps such as Zoom rival JioMeet.</li><li>The investment gives Google a 7.7% stake in Jio Platforms, providing the deal is cleared by India's regulators.</li><li>Reliance Jio's founder, Mukesh Ambani, is currently the sixth-richest man in the world, with a net wealth of $72.4 billion.</li></ul>Google will invest $4.5 billion in disruptive, popular Indian internet firm Jio Platforms, the company <a href="https://blog.google/around-the-globe/google-asia/bringing-internet-access-millions-more-indians-jio">confirmed on Wednesday</a>.The deal gives Google a 7.7% stake in the company, pending approval by Indian regulators.The two firms plan to develop an entry-level Android phone that could bring millions more Indian users online.Google CEO Sundar Pichai, announcing the deal on Wednesday, <a href="https://twitter.com/sundarpichai/status/1283332612308627456">tweeted</a>: "Everyone should have access to the internet. Proud to partner with <a href="https://twitter.com/reliancejio">@reliancejio</a> to increase access for the hundreds of millions in India who don't own a smartphone with our 1st investment of $4.5B from the <a href="https://twitter.com/hashtag/GoogleForIndia?src=hashtag_click">#GoogleForIndia</a> Digitization Fund."A subsidiary of Indian conglomerate Reliance, Jio Platforms owns India's biggest mobile operator Jio, which has a subscriber base of 369.93 million and more than 30% market share.Jio Platforms also owns a suite of homegrown internet apps, including Zoom rival JioMeet and music streaming service JioSaavn.The funding is part of a slew of Google initiatives in India. CEO Sundar Pichai recently held a video call with Indian prime minister Narendra Modi. And the $4.5 billion cash injection comes from a new <a href="https://www.businessinsider.com/google-alphabet-india-health-agriculture-education-tech-ai-sundar-pichai-2020-7?r=US&amp;IR=TIR=T">$10 billion fund that Google plans to invest in India</a>.Pichai is also friendly with the founding family behind Reliance Jio, the Ambani family, attending scion Akash Ambani's wedding in Mumbai in 2019.Other major tech firms have already invested billions in Jio Platforms. <keyword id="6354576" type="UNKNOWN" weightage="60" keywordseo="facebook">Facebook</keyword> announced a $5.7 billion investment <a href="https://www.businessinsider.com/facebook-invests-in-jio-india-mobile-internet-service-2020-4?r=US&amp;IR=TIR=T">in April</a>. Qualcomm announced this week <a href="https://edition.cnn.com/2020/07/13/tech/qualcomm-reliance-jio-investment-intl-hnk/index.html">it was investing around $100 million</a>, while Saudi Arabia's Public Investment Fund, KKR, Vista Equity Partners, and many others have invested billions in recent months.<h2>The 'Jio effect' has had a huge impact on Silicon Valley</h2>Jio's rise in India has been meteoric.The Reliance subsidiary has brought millions of Indians online for the first time over the past four years by offering free or incredibly cheap 4G data.This wave of new internet users has benefited the likes of Google and Facebook, both of which are experiencing saturation in the West and are increasingly looking at Asia and emerging economies to provide their "next billion users." Facebook explicitly called out the positive effect of cheap data plans in emerging economies on its user growth back in 2016, and repeatedly describes India is its fastest-growing market.<a href="https://www.businessinsider.com/reliance-jio-millions-of-indians-online-reshaped-internet-2019-8?r=US&amp;IR=TIR=T">As Business Insider previously reported</a>, one side effect of millions of new Indian users flooding the internet was the dethroning of popular gaming YouTuber PewDiePie as the top creator on the platform. He was replaced by T-Series, an Indian record label that garners hundreds of millions of views by posting Indian music videos to YouTube and is little-known outside the country.Meanwhile, Reliance chairman Mukesh Ambani is now the sixth-richest person in the world, per <a href="https://www.bloomberg.com/billionaires/">Bloomberg's Billionares Index</a>, surpassing Tesla CEO Elon Musk with a net wealth of $72.4 billion.

Google is investing $4.5 billion in India's mobile internet giant Reliance Jio and the 2 will make a new affordable Android phone

<ul><li><keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> has raised ₹4,546.80 crore from global alternative asset firm <keyword id="6367884" type="UNKNOWN" weightage="20" keywordseo="tpg">TPG</keyword>. </li><li>With the investment, TPG gets a 0.93% stake in Jio. </li><li>Louis Vuitton owner LVMH backed L Catterton has also invested ₹ 1894.50 crore for a 0.39% stake.</li><li>Jio now has an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore.</li></ul><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s Reliance Jio has raised ₹4,546.80 crore from global alternative asset firm TPG. With the investment, TPG gets a 0.93% stake in Jio. It also announced its 10th deal ₹ 1894.50 crore by L Catterton, one of the world’s largest consumer focused private equity firms. L Catterton is built in a partnership with LVMH and Groupe Arnault. L Catterton will now have a 0.39% equity stake in Jio. This takes Jio’s total investments to ₹104,326.95 crore from the likes of Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton since April 22, 2020. Jio now has an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore. <div type="image" title="jio latest." msid="76363615" hostid="261"></div> “We have been impressed by TPG’s track record of investing in global technology businesses which serve hundreds of millions of consumers and small businesses, making the societies we live in better,” said Mukesh Ambani, Chairman and Managing Director of Reliance Industries. According to the company, TPG is making the investment from its <keyword id="124318" type="COMPANY" weightage="20" keywordseo="TPG-Capital">TPG Capital</keyword> Asia, TPG Growth, and TPG Tech Adjacencies (TTAD) funds. “We are excited to play an early role in Jio's journey as they continue to transform and advance India's digital economy. Jio is a disruptive industry leader that is empowering small businesses and consumers across India by providing them with critical, high-quality digital services. The company is bringing unmatched potential and execution capabilities to the market, setting the tone for all technology companies to come,” said Jim Coulter, Co-CEO TPG. Ambani is also counting on L Catterton’s experience in creating consumer-centric businesses. “Over our more than 30 year history, we have established a track record of building many of the most important brands across all consumer categories and geographies, from retailers, omni-channel and digitally native brands. We are strong supporters of fostering growth through product development, enhanced digital capabilities and strategic alliances. We look forward to partnering with Jio, which is uniquely positioned to execute on its vision and mission to transform the country and build a digital society for 1.3 billion Indians through its unmatched digital and technological capabilities," said Michael Chu, Global Co-CEO of L Catterton in a statement. According to Business Insider’s sources, the next investment is set to come through from Saudi Arabia’s sovereign fund – Public Investment Fund, which comes under the royal family of Mohammad bin Salman‎. MBS, as he is popularly known, is one the biggest tech investors. Some joke that <a href="https://qz.com/1426370/silicon-valley-is-awash-with-saudi-arabian-money-heres-what-theyre-investing-in/">Silicon Valley is funded by MBS</a> – with investments in Uber, Lyft and $45 billion in SoftBank’s Vision Fund. The deal is set to be closed in the coming week. Reliance Jio gets to pick between Google and Microsoft for the last tranche of investments, two sources in the know told Business Insider. “The ball is in Reliance’s court – they get to pick and choose. They will decide what is the best strategic fit for Reliance and will evaluate how smart the money is,” said the source. SEE ALSO: <a href="https://www.businessinsider.in/business/news/akash-ambani-was-the-one-to-choose-facebook-the-next-big-investments-for-reliance-jio-and-the-ideas-sold-to-investors/articleshow/76316650.cms">EXCLUSIVE: Inside the Reliance Jio deals – Akash Ambani was the one to choose Facebook, the next big investments and the ideas sold to investors</a>

Reliance Jio lands its 9th and 10th investment – ₹4,546.80 crore from TPG and ₹1,894.50 crore from LVMH-backed L Catterton

<ul><li>The fortune of India’s richest man has swelled to $74.7 billion. </li><li><keyword id="10924" type="PERSON" weightage="20" keywordseo="Ambani">Ambani</keyword> is wealthier than several American business tycoons including Warren Buffett, Larry Ellison and Elon Musk, according to Forbes. </li><li>Just today, he has added $2.9 billion to his net worth. </li><li>Shares of Ambani led-Reliance Industries (RIL) surged to a new high on July 22, as they crossed the ₹2,000-mark for the first time </li></ul>There’s no stopping the money rush! Indian businessman Mukesh Ambani<a href="https://www.forbes.com/real-time-billionaires/#2e1acf463d78"> has become the fifth richest person </a>in the world with a fortune of $74.7 billion in his coffers. He is wealthier than American business tycoons including Warren Buffett, Larry Ellison and Elon Musk, according to Forbes. The recent rally in Reliance’s share price has added to Ambani’s wealth. Just today, he has added $2.9 billion to his net worth. Shares of Ambani led-Reliance Industries (RIL)<a href="https://www.cnbctv18.com/market/stocks/reliance-industries-shares-hit-rs-2000-mark-up-130-from-march-lows-6410811.htm"> surged to a new high on July 22, as they crossed the ₹2,000-mark for the first time</a>. RIL shares touched an all-time high of Rs 2,010 per share. In the past three months, RIL's stock price has grown around 48%. <div type="image" title="RIL Share Price" msid="77105958" hostid="261"></div> A week ago, Mukesh Ambani was on his course to become the fifth richest man but he <a href="https://www.businessinsider.in/business/news/mukesh-ambani-loses-over-2-billion-and-drops-down-four-places-in-the-billionaires-list-thats-how-important-the-ril-aramco-deal-is/articleshow/76992950.cms">lost about $2 billion dollars in a single day</a> after Reliance’s share fell by over 6% following an annual general meeting. <div type="Article" hostid="261" msid="76992941" title="JioPhone is Google and Ambani's second go at launching a smartphone — this time with help from Qualcomm" mstype="2" mssubtype="0"></div> Top 10 richest people in the world, as of July 22, according to Forbes <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jeff Bezos </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$185.8 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bill Gates </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$113.1 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bernard Arnault and family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$112 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mark Zuckerberg </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$89 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mukesh Ambani </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$74.7 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Warren Buffet </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$72.7 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Larry Ellison </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$72.7 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elon Musk </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$71.6 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Steve Ballmer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$71.4 Billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Larry Page </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$69.4 Billion </td></tr></tbody></table> The reason behind this sudden surge in Ambani’s wealth since April is because his three-year-old telecom arm <a href="https://www.businessinsider.in/business/news/akash-ambani-was-the-one-to-choose-facebook-the-next-big-investments-for-reliance-jio-and-the-ideas-sold-to-investors/articleshow/76316650.cms">Reliance Jio has raised more than $20 billion in the last four months </a>from <a href="https://www.businessinsider.in/tech/news/google-may-put-4-billion-into-indias-reliance-jio-months-after-facebook-invested-5-7-billion/articleshow/76957941.cms">Google</a>, Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, Saudi PIF (Public Investment Fund) and more. READ ALSO: <a href="https://www.businessinsider.in/business/news/mukesh-ambani-owned-reliance-jio-compared-to-alibaba-and-tencent/articleshow/77059624.cms">If Alibaba and Tencent are rolled into one, it may look a lot like Mukesh Ambani’s Reliance Jio ⁠— only much smaller for now</a> Jio is <a href="https://www.businessinsider.in/tech/mobile/news/jio-google-qualcomm-deal-for-new-4g-smartphone-jiophone/articleshow/76992941.cms">now planning to work on a new smartphone</a> for the Indian market. Backed by the likes of Qualcomm and Google, Jio’s smartphone may emerge as a serious threat to the Chinese peers like Xiaomi, Vivo and Oppo who dominate India’s smartphone market. In the last decade, Ambani <a href="https://www.businessinsider.in/thelife/personalities/news/mukesh-ambani-is-now-richer-than-elon-musk-and-google-founders-larry-page-and-sergey-brin/articleshow/76955217.cms">has doubled his wealth and in 2020</a>, as India’s richest are losing money, Ambani is gaining more. According to Bloomberg, Ambani is slowly shifting his focus from energy to e-commerce. The next wave of growth and value for Ambani and Reliance’s shareholders i<a href="https://www.businessinsider.in/business/news/mukesh-ambani-next-goal-seems-to-be-the-retail-king-of-india/articleshow/76953716.cms">s likely from the retail vertical.</a> Reliance Retail is already the country’s largest chain and is now likely to get even bigger, as Asia’s richest man focuses on becoming India’s retail king. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/9-mind-blowing-facts-that-show-just-how-wealthy-mukesh-ambani-the-richest-person-in-asia-really-is/articleshow/73671508.cms">9 mind-blowing facts that show just how wealthy Mukesh Ambani, the richest person in Asia, really is</a> <a href="https://www.businessinsider.in/science/health/news/coovid-vaccine-from-oxford-serum-institute-and-astrazeneca-shows-promising-immune-response/articleshow/77069321.cms">The COVID-19 vaccine from Oxford and AstraZeneca shows 'promising' results in early human trials</a> <a href="https://www.businessinsider.in/careers/news/from-intel-and-wipro-to-tcs-and-google-here-are-the-top-job-openings-in-the-multinational-companies/articleshow/77058769.cms">From Intel and Wipro to TCS and Google— Here are the top job openings in the multinational companies</a>

Mukesh Ambani is now the fifth richest person in the world, according to Forbes

<div class="KonaFilter image-container display-table"><div><div class="image on-image">BlackstoneJon Korngold, Blackstone's head of growth equity</div></div></div><ul class="summary-list"><li>Blackstone, the world's biggest private equity firm, is expanding to invest in companies that are too big for venture capital, but not mature enough for traditional buyouts.</li><li>Jon Korngold, who spent 18 years investing in growth equity at General Atlantic, was tapped to lead the effort.</li><li>Blackstone's other recent expansion areas include infrastructure, life sciences, and insurance, as the firm looks to more than double its assets under management to $1 trillion over time. </li></ul>Blackstone has hired a veteran who specializes in investing in fast growing companies to lead a new business. The New York-based firm, which managed $457 billion as of September 30, is betting that a number of new businesses can shoot its assets under management to $1 trillion by 2026. Its latest expansion area is growth equity - investing in companies that are too big for venture capital, but not mature enough for its sizable private equity arm. Blackstone has done some growth investing from its tactical opportunities arm, which invests opportunistically across asset classes, but not through a standalone business. Blackstone tapped Jon Korngold to lead the new strategy, the firm said Monday. Korngold spent 18 years at General Atlantic, a $28 billion firm focused on growth equity. "The scale, geographic reach and global operating resources that Blackstone can provide fast-growing companies are unparalleled, and will be a real competitive advantage," Korngold said in Monday's statement.See more: <a href="https://www.reuters.com/article/us-blackstone-group-asia/blackstone-raises-9-4-billion-for-asia-real-estate-private-equity-funds-idUSKBN1J905D">Blackstone raises $9.4 billion for Asia real estate, private equity funds </a>Blackstone, which was founded in 1985, has built its business on four areas: private equity, real estate, credit, and hedge funds. Newer growth areas include a lower-risk type of real estate; private equity secondaries; tactical opportunities; and retail and private wealth management. Blackstone's latest areas of expansion are <a href="https://www.businessinsider.com/blackstone-struggling-to-raise-money-for-saudi-backed-infrastructure-fund-2018-4">infrastructure</a>, <a href="https://www.reuters.com/article/us-clarus-m-a-blackstone-group/blackstone-buys-clarus-to-bulk-up-in-life-sciences-idUSKCN1ME1CT">life sciences</a>, <a href="https://markets.businessinsider.com/news/stocks/insurance-proves-a-honeypot-for-alternative-asset-managers-6037962">insurance</a>, and the 401(k) space. The firm has to play catch-up to some peers who got into the space much earlier. TPG started its growth business, which now manages $13.2 billion in assets, in 2007, while KKR founded its $2 billion growth platform in 2012.

$457 billion Blackstone has poached a growth equity veteran as it pushes into a new business area

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">China Stringer Network</div></div></div>Alternative investment giant KKR is excitedly eyeing deals in China."We're seeing opportunities in private equity that really don't show up in the public markets," Scott Nuttall, KKR's global head of capital and asset management, said in an earnings call on Tuesday.KKR has invested and cashed in on China's food sector in recent years, putting money in everything from chicken producers to dairy farms. The firm is big on areas like food safety and environmental safety in the country, which is often mired in <a href="http://www.businessinsider.com/r-china-court-fines-osi-jails-employees-over-food-safety-scandal--2016-2">food scandals</a> and <a href="http://www.businessinsider.com/photos-of-chinas-polluted-water-2016-3">hazardous levels of pollution.</a>This is a pressing problem in China, because the food industry there has to feed <a href="http://www.businessinsider.com/photos-show-china-overcrowded-2016-4">more than 1.4 billion people</a>. The air pollution problem is so intense that officials have had to <a href="http://www.businessinsider.com/china-environmental-red-lines-industry-social-strife-2016-6">put caps on energy use</a>."We've made several investments in things like dairy farms, pork producers, chicken producers, focused on food safety," Nuttall said. "Environmental safety has also been a big theme for us in Asia and in China in particular."As Chinese citizens gain wealth, they're paying more attention to food safety. They are looking for <a href="http://www.businessinsider.com/the-effects-of-chinas-food-safety-scandals-2015-8">healthier options</a>, choosing white meat over red and taking cooking classes.Nuttall added: "I think looking at the public market, especially in places like China, really, what you've got us a lot of SOE, state-owned-enterprise-type companies that it's not really where we spend our time. I'd say one big theme has been for us investing in growth companies that are basically exposed to the growth of the middle class and the rise of the consumer. And we're finding a lot of opportunities off the beaten track. We have a big team in China where we see those opportunities."His optimism is bolstered by KKR's Asia II private equity fund's latest performance, which saw a 36% gross internal rate of return as of June. That compares with a loss of 1% for the benchmark MSCI Asia Pacific.It's no wonder Henry Kravis, KKR's billionaire cofounder, is a frequent visitor to China. He was even invited by the head of China's SEC-equivalent to give some tips to local private equity players, according to <a href="http://www.bloomberg.com/features/2016-henry-kravis-interview/">an interview with Bloomberg Markets</a>. <div class="KonaFilter image-container display-table"><div><div class="image on-image">KKR</div></div></div>China's market is a tough one to navigate. Global investors have been taken on a <a href="http://www.businessinsider.com/edward-misrahi-ronit-capital-on-china-2016-7">crazy rollercoaster ride</a>, and officials have tried to calm jittery investors while tackling other problems, including <a href="http://www.businessinsider.com/china-debt-a-symptom-of-state-capitalism-2016-6">a mountain of debt</a> and a <a href="http://www.businessinsider.com/china-working-age-population-already-shrinking-2016-5">shrinking working population</a>. In the call, JMP Securities analyst Devin Ryan asked if KKR is going to ramp up capital deployment in Asia, and if executives felt "a sense of urgency" as the markets are "off quite a bit" in the country. "Hopefully, the valuation backdrop in the public markets will bring prices down further and give us opportunities. But we've been very focused on deploying capital in Asia where we see value and that will continue to be the case," Nuttall said.Overall, the firm posted <a href="http://www.businessinsider.com/kkr-second-quarter-results-tension-2016-7">better-than-expected results</a> for the second quarter, helped by an appreciation in its private equity portfolio. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/tony-robbins-paul-tudor-jones-investing-strategy-asymmetric-risk-reward-2016-6">TONY ROBBINS: Here's the secret to investing like hedge fund billionaire Paul Tudor Jones</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="tmdTBiNDE6SKN_YOQvCv5SewPEU8ta9Z" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

A Wall Street investor is trying to cash in on one of China's most pressing problems

<div class="KonaFilter image-container display-table"><div><div class="image on-image">"Fortnite:Battle Royale"/Epic Games"Fortnite" creator Epic Games is setting investment records.</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/how-many-people-play-fortnite-stats-2018-2018-9" target="_blank" rel="noopener">"Fortnite"</a> creator Epic Games has announced $1.25 billion in new funding from multiple investors.</li><li>The announcement marks the largest ever investment in a video game company, according to PitchBook.</li><li>"Fortnite" is the most popular video game in the world, with nearly 80 million players per month.</li><li>The <a href="https://www.businessinsider.com/why-big-game-companies-are-suddenly-giving-away-their-secret-sauce-2015-3" target="_blank" rel="noopener">Unreal Engine</a>, Epic's game design software suite, has been used by a variety of developers to create hundreds of games since 2001.</li></ul>Epic Games has announced $1.25 billion in new investments, the largest ever funding round for a video game company, according to PitchBook.Epic is the creator of "Fortnite," the most popular video game in the world, and also creates development software used by major game studios and indie developers alike. According to a press release from Epic, the new investors include KKR, ICONIQ Capital, Smash Ventures, aXiomatic, Vulcan Capital, Kleiner Perkins, and Lightspeed Venture Partners. They will join Disney, Tencent, and Endeavor as minority stakeholders.Epic founder and CEO Tim Sweeney will retain control of the company."We're excited to partner with the finest minds in the financial, sports, and entertainment communities. This reinforces Epic's position of leadership in real-time 3D technology, and accelerates our ability to improve the way people play, work, and interact with the world," Sweeney said in the press release."Fortnite" continues to see surging success, celebrating <a href="https://www.businessinsider.com/how-many-people-play-fortnite-stats-2018-2018-9" target="_blank" rel="noopener">80 million players during August 2018</a>. The game's popularity has led to exclusivity deals with Samsung, licensing <a href="https://www.businessinsider.com/fortnite-themed-monopoly-nerf-blaster-hasbro-epic-games-2018-10" target="_blank" rel="noopener">deals with Nerf and Hasbro</a>, and even made <a href="https://www.businessinsider.com/sony-gives-in-allows-fortnite-crossplay-ps4-xbox-nintendo-switch-2018-9" target="_blank" rel="noopener">Sony change its policy for cross-platform play</a>."Fortnite" is free to play on the vast majority of gaming platforms, but earns revenue through micro-transactions. The game reached a monthly record of <a href="https://www.businessinsider.com/fortnite-318-million-dollars-free-to-play-epic-games-charts-2018-6" target="_blank" rel="noopener">$318 million in revenue</a> during May 2018, and Epic has committed to developing a competitive community for "Fortnite" with a promise to invest $100 million in esports.Beyond publishing major titles like "Fortnite" and "Gears of War," Epic Games creates <a href="https://www.businessinsider.com/why-big-game-companies-are-suddenly-giving-away-their-secret-sauce-2015-3" target="_blank" rel="noopener">game design tools for other developers</a>. Now in its fourth iteration, Epic's Unreal Engine design suites have been used to create hundreds of games since 2001.Epic's $1.25 billion investment round is the largest ever for a video game company. The previous high was $550 million, raised by Sea Limited in May 2017, according to Pitchbook data. Sea Limited is a Singapore-based company providing an online gaming portal for Southeast Asia. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/amazon-go-open-3000-automated-stores-2018-9">Why Amazon reportedly wants to open 3,000 automated stores</a></h3> <div> </div> </div>

The creators of 'Fortnite' just landed $1.25 billion in new investments, the largest ever financing round for a video game company

Rick Sherlund/ Perella Weinberg; Brian Ach/Getty Images; Philip Faraone/Getty Images; Steven Ferdman/Getty Images; Ruobing Su/Business InsiderHello!This will be the last email you'll be getting from me for a little while, as I'll be taking eight weeks of parental leave. In my absence, some of our talented editors will be taking over the Sunday email, so you can look forward to hearing more from them in the coming months.Here's what I've been paying attention to this past week:Yes, there have been lots of layoffs in the financial services industry again in 2019. But for particular pockets, 2019 was <a href="https://www.businessinsider.com/top-40-dealmaker-hires-departures-in-2019-by-investment-banks-2019-11">a year of frenetic hiring on Wall Street</a>.<ul><li>Alex Morrell talked to top Wall Street recruitment and executive search firms and tracked the 2019 poaching war between rival investment banks, listing the <a href="https://www.businessinsider.com/top-40-dealmaker-hires-departures-in-2019-by-investment-banks-2019-11">40 must-know hires and exits for the year</a>.</li><li>Goldman Sachs is assembling a team of senior bankers focused on middle-market private equity, Casey Sullivan reported. He got the inside track on the <a href="https://www.businessinsider.com/goldman-sachs-has-finalized-its-middle-market-private-equity-team-2019-11">key hires and the playbook they'll use to land new clients</a>.</li><li>Private equity giants like Blackstone and KKR <a href="https://www.businessinsider.com/pe-firms-blackstone-kkr-hiring-more-operating-partners-executives-2019-10">are loading up on industry specialists to help squeeze out returns</a>, and that's creating a new power dynamic inside the firms, according to Casey.</li><li>And the $800 billion shadow-lending industry is staffing up <a href="https://www.businessinsider.com/shadow-lenders-playing-wait-and-see-game-on-restructuring-experts-2019-10">with recession pros who can sort out messy credit meltdowns,</a> Alex reported.</li></ul><h2>Shutterstock</h2><h2>Amazon's biggest test yet</h2>Amazon is set to spend more than $3 billion this year on its burgeoning transportation network of planes, ocean freighters, vans, trucks, and more, Rachel Premack reported this week. <a href="https://www.businessinsider.com/amazon-prime-delivery-faces-test-holiday-season-2019-11">The next 20-something days represent a huge test for that network.</a>Rachel writes: There are just 26 days between Black Friday and Christmas Day this year - six days fewer than last year and the shortest holiday shopping season we've seen since 2013.That doesn't mean customers will be buying less, according to the National Retail Foundation. But it does mean that the pressure is on for online retailers to fulfill orders. <a href="https://www.businessinsider.com/amazon-prime-delivery-faces-test-holiday-season-2019-11">And e-commerce analysts are hunkering down to see if Amazon will be able to deliver, avoiding another customer service fiasco</a>.In related news, nearly all of America's 1.8 million truck drivers are paid on a per-mile basis, but Amazon is breaking with the norm, according to internal documents seen by Rachel.According to the docs, Amazon <a href="https://www.businessinsider.com/amazon-truck-drivers-pay-hourly-per-mile-2019-11">pays truck drivers per day, rather than per mile</a>, through three job categories. Rachel reported that the <a href="https://www.businessinsider.com/amazon-truck-drivers-pay-hourly-per-mile-2019-11">tactic could be a brilliant maneuver that may give the e-commerce giant an advantage.</a><h2>The DNA testing fad is over</h2>As Lydia Ramsey reported, for years, the hot gift at the holiday season has been DNA test kits. Not anymore. From Lydia's story:Consumers aren't flocking to send their spit into genetic testing companies in as high numbers as the industry expected. "The market's been down and we don't see that coming back next year," Vijay Kumar, an analyst at Evercore ISI said.She talked to the CEOs of Ancestry and 23andMe <a href="https://www.businessinsider.com/dna-testing-business-strategy-23andme-ancestry-helix-2019-11">about how they're fighting back</a>.That's it from me. Before I go, I want to say thank you for reading! Have a great finish to 2019, and I'll be back in your inbox in 2020.- Matt<h2>Finance and Investing</h2><a href="https://www.businessinsider.com/softbank-tencent-lead-150-million-investment-in-argentinas-uala-2019-10">Ualá, a fast-growing personal-finance app in Argentina, just closed a $150 million fundraising led by Tencent and SoftBank's Latin America innovation fund</a>Argentina's hottest startup just got some serious backing from two of Asia's biggest investors. <a href="https://www.businessinsider.com/vc-investors-bain-citi-insight-andreessen-horowitz-fintech-founders-pitches-2019-11">We asked 4 VC investors what they look for in a fintech founder: they want someone who's 'gritty' and has 'transgressive' ideas, but can also take advice</a>There's a lot of cash out there for fintechs, but startup founders and venture capital backers are playing in a crowded market. We asked four VC investors focused on fintechs what they're looking for in a founder and a pitch.<h2>Tech, Media, Telecoms</h2><a href="https://www.businessinsider.com/microsoft-azure-technical-trainers-amazon-web-services-2019-11">Microsoft is building a new team of technical trainers to grow its Azure cloud business and compete with Amazon Web Services</a>Microsoft is building a new team capable of training users at any technical level about its Azure cloud-computing business, casting a wider net for potential customers.<a href="https://www.businessinsider.com/newsletter-company-theskimm-is-seeking-an-investor-or-buyer-sources-2019-11">Industry insiders say buzzy millennial media company TheSkimm has been looking for an investor or buyer as user growth slows</a>The buzzy media darling TheSkimm has been looking for an investor or buyer as media companies consolidate around it, people familiar with the talks told Business Insider.<h2>Healthcare, Retail, Transportation</h2><a href="https://www.businessinsider.com/mars-ceo-millennials-treating-pets-kids-good-business-2019-11">Mars CEO reveals how millennials' growing tendency to treat pets like children is transforming the $35 billion company's business</a>The pet-care <a href="https://www.businessinsider.com/pet-care-industry-grows-as-millennials-elevate-pets-2019-5" target="_blank" rel="noopener">industry is booming</a>, especially among Gen Z and millennials who increasingly see their pets as more than just animals.<a href="https://www.businessinsider.com/pitch-deck-how-ecommerce-startup-vtex-raised-140-million-softbank-2019-11">Check out the pitch deck the e-commerce company VTEX used to get a $140 million funding round led by SoftBank</a>Two Brazilian entrepreneurs spent years shunning external funding as they grew their business before deciding to take on SoftBank cash in a bid to take the company to the next level.<a href="https://www.businessinsider.com/intelligence/40-big-tech-predictions-for-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=amazon&amp;itm_campaign=40-big-tech-predictions-for-2019-2"></a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/cooked-entire-thanksgiving-dinner-using-google-home-hub-2018-11">I tried cooking an entire Thanksgiving dinner using Google Home Hub and found there are 2 major flaws with it</a></h3>

Wall Street's poaching war, Amazon's biggest test yet, and an end to the DNA testing fad

New Delhi, From the depths of despair to an adrenaline-pumping ascent, <keyword id="6422161" type="UNKNOWN" weightage="20" keywordseo="equity-investors">equity investors</keyword> traversed the whole gamut of emotions in 2020 as a once-in-a-lifetime pandemic followed by equally unprecedented stimulus measures whiplashed <keyword id="156526" type="PERSON" weightage="20" keywordseo="Global-stock-markets">global stock markets</keyword>, upended conventional wisdom and blurred the lines between investing and speculation. Dalal Street witnessed gut-churning fluctuations, with the BSE <keyword id="6484188" type="COMPANY" weightage="20" keywordseo="sensex">Sensex</keyword> swinging between historic losses and eye-popping gains, sometimes in the same session, and confounded veterans and rookies alike. No one had anticipated that the Sensex and Nifty would be bludgeoned in late March, or that they will stage a remarkable recovery almost immediately and soar to all-time highs by the end of the year. But, 2020 has been a year full of events outside the realm of imagination. The year started off on an ominous note for financial markets when on January 3 top Iranian commander Qasem Soleimani was killed in a US drone strike in Iraq, ratcheting up tensions in the Middle East. The Sensex tumbled more than 900 points over two sessions but resumed its upward march to hit life highs later that month. Equities largely shrugged off initial reports of a coronavirus outbreak in China, in tandem with the global bourses, and looked ahead to the Budget. However, the Sensex logged one of its biggest single-day declines on February 1 after the Union Budget failed to live up to market expectations of growth-boosting measures and fiscal discipline. The real test, alas, was ahead. From mid-February, world stocks started getting skittish as it became clear that the COVID-19 crisis would not be limited to China. To add to the woes, Yes Bank was placed under a moratorium in a rare move, triggering a crisis of confidence in the domestic banking sector. The explosive cocktail of a global market meltdown and domestic troubles proved too much to take for Dalal Street. Four of the biggest single-day declines in the history of BSE Sensex came in March 2020, leaving participants shell-shocked. Its biggest-ever plunge (in absolute terms) was on March 23, when the benchmark crashed 3,934.72 points or 13.15%. Astonishingly, March also saw some of the index's biggest up-moves amid the RBI stepping in with emergency liquidity support. The Sensex's largest-ever single-session gain came a little later on April 7, when it zoomed 2,476.26 points as investors wagered on more stimulus measures from the government to battle the economic fallout of the pandemic. The turbulence on the domestic bourses also mirrored global market turmoil. The Dow Jones suffered its worst fall, emerging market assets were routed and in a mind-boggling moment, US oil futures turned negative for the first time in history. For a while, the world stopped making any sense. With the world economy comatose and governments overwhelmed by a cataclysmic health crisis, the task of propping up the financial markets and restoring investor confidence fell to the global central banks. "2020 will probably go down in history as a year when global central bankers injected close to USD 11 trillion as stimuli to combat the COVID pandemic," said S Ranganathan, Head of Research at LKP Securities. The massive money printing by the US Federal Reserve and its peers sparked a breathtaking turnaround in global stock markets. Never bet against the Fed, as the saying goes. Flush with funds, foreign portfolio investors (FPIs) poured in billions of dollars into emerging markets, with India topping the chart in Asia. FPI net inflows into Indian equity markets have crossed ₹1.5 lakh crore (over USD 20 billion) this year -- a lifetime peak. The Sensex erased its 2020 losses on November 5, while global investors monitored the results of the tightly-contested US elections. The next booster dose for world markets came over the following few days as companies like Pfizer, Moderna and AstraZeneca began announcing positive results from their COVID-19 vaccine trials. Human innovation once again triumphed against all odds, setting off a record-shattering relief rally in equities. From November 9 to December 18, the Sensex hit fresh record highs in 22 out of the 29 sessions. For the calendar year (till December 24), the Sensex has gained 13.86%, while the Nifty has delivered returns of 12.99%. Compared to the March lows, both the indices are up by a hefty 80%. <keyword id="595023" type="PERSON" weightage="20" keywordseo="Benchmarks">Benchmarks</keyword> had another engine propelling them higher this year - <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> (RIL), which became the first Indian company to reach a market capitalisation of ₹15 lakh crore (USD 200 billion) in September. Beginning April, the Mukesh Ambani-led conglomerate announced a slew of deals to sell minority stakes in its telecom and retail arms to marquee investors like Facebook, Google, Silver Lake, KKR, Mubadala, and Public Investment Fund of Saudi Arabia. The company has raised around USD 25 billion so far this year as it seeks to ramp up its consumer-facing businesses. For a good part of the year, RIL almost single-handedly drove the domestic benchmarks higher in the absence of any buying triggers. The COVID-19 crisis also forced investors to take a relook at their sectoral allocations. "From the lows, markets started stabilising and pandemic sectors like FMCG, IT, pharma and chemicals benefitted. As the economy further opened up, growth and cyclical sectors reversed positively," said Vinod Nair, Head of Research at Geojit Financial Services. However, while stocks seem to have found their animal spirits back, there are also some murmurs of discontent. Analysts say world stock markets have developed a dangerous addiction to endless money printing by central banks, and show withdrawal symptoms of a junkie at the slightest indication of a moderation in monetary stimulus. Back home too, around half of the government's ₹20.97 lakh crore economic stimulus package comprised RBI's liquidity measures. This glut of global liquidity has pushed markets so far ahead of economic fundamentals that some are beginning to question whether the real economy matters in equity investing at all. For example, no one would be able to tell looking at the Sensex chart that the Indian economy shrank 23.9% in the first three months of FY21, and 7.5% the next quarter. Globally too, markets have been on a manic upswing even as millions have lost their jobs, small businesses are battling for survival and entire industries have been decimated. While the real economy has been ravaged by the pandemic, most financial market indicators are ruling at stratospheric levels. The BSE Sensex is currently trading at a price-to-earnings (PE) ratio of 32.89, the highest on record. To put it differently, investors are paying ₹32.89 for every rupee of future earnings of the 30 Sensex firms, compared to the previous 20-year average of around ₹19. Global market capitalisation -- the value of all the listed stocks in the world - topped USD 100 trillion for the first time ever in December. And in a classic sign of market mania, there's a rush of first-time investors eager to make a quick buck. A record 68 lakh new dematerialised (or demat) accounts were opened in India between April and October 2020, compared to nearly 49 lakh in the entire FY20, which was the highest in a decade. Experts attribute this trend to factors like increased time at home due to the lockdown, efforts to make up for lost jobs or incomes, and also FOMO, or the fear of missing out on this rally. This is also reflected in the growing popularity of discount broking apps like Zerodha and Upstox, which have dislodged traditional broking houses in terms of active clients. Like the Robinhood app in the US, such platforms have attracted the tech-savvy crowd with their slick interface and mobile-first approach which has 'gamified' the once-stodgy field of stock market investing. With Fed and FOMO playing in tandem, many questioned technicalities like PE and PB ratios. But, some analysts also maintain that 2020 was an outlier in terms of corporate earnings and hence valuation metrics like PE ratios this year are not strictly comparable to historical averages. However, even they agree that every segment of the economy would have to stage a synchronous and sensational comeback to catch up with the market projections. And if that comes to pass, 2021 would be an even more incredible year for the bourses. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a> <a href="https://www.businessinsider.in/thelife/personalities/news/from-taking-on-yahoo-to-being-tamed-by-chinas-communist-party-its-been-a-roller-coaster-decade-for-jack-ma/slidelist/79935613.cms">From taking on Yahoo to being tamed by China’s Communist Party— it’s been a roller coaster decade for Jack Ma</a> <a href="https://www.businessinsider.in/careers/news/ey-is-looking-to-hire-9000-techies-in-2021-to-boost-its-digital-services/articleshow/79936576.cms">EY is looking to hire 9,000 techies in 2021 to boost its digital services</a>

Virus, vaccines and volatility: Stock market takes a wild ride in 2020

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Tim ShafferPrivate equity is taking it on the chin right now.</div></div></div>Private equity firms just wrapped up a pretty rough third quarter. Blackstone, KKR and The Carlyle Group reported disappointing results, each posting losses in their earnings reports.Blackstone reported a loss of $0.40 per share, while KKR reported losses of $0.42 a share, and Carlyle reported a $0.43 loss. It's not happening for any singular reason.Carlyle announced results on Wednesday October 28, and said some of its hedge fund businesses underperformed and that the firm saw certain energy investments falter.The underperformance of investments in Asia was partly to blame for the losses at KKR, while at Blackstone chief Steven Schwarzman blamed market volatility for the loss. It's the latest in a series of disappointing revelations for the buyout business, which could also be seeing the <a href="http://www.businessinsider.com/the-ipo-window-is-closed-2015-10">beginning of the end for the IPO window</a> that has generated so much in returns for top PE investors. Apollo, which is thus far the only private equity firm to report a profit let alone a beat for the third quarter, did so on the strength of one of its insurance investments. Oaktree Capital Group is the only marquee private equity firm yet to announce its third quarter numbers.The share price of the five private equity companies are down for 2015 year to date. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Yahoo Finance</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/john-paul-dejorias-rag-to-riches-story-2015-10">Homeless man turned billionaire shares the secret to the American dream</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="9kcGMzcDoKH3S1GFx001rJvoy5kiSCRO" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The giants of private equity have been taking a pummelling

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Jason Reed/Reuters</div></div></div>Rainmakers are betting on tourists to bring in some serious profits.The Carlyle Group, the private-equity giant with $178 billion in assets, recently invested in <a href="https://www.carlyle.com/news-room/news-release-archive/inca-rail-link-historic-machu-picchu-announces-investment-carlyle-per">Inca Rail</a>, which provides a scenic ride to Machu Picchu in Peru.Apollo Global Management announced <a href="http://ir.agm.com/phoenix.zhtml?c=214560&amp;p=irol-newsArticle&amp;ID=2185629">its $2.2 billion purchase of Diamond Resorts</a>, a timeshare operator based in Las Vegas, and KKR is set to open <a href="http://www.prnewswire.com/news-releases/hawaiis-first-hyatt-centric-branded-hotel-set-to-open-in-winter-2016-2017-300299236.html">a new hotel in Waikiki Beach</a> with partners CoastWood Capital Group and Chartres Lodging Group this winter.So far this year, the value of global private-equity deals in the dining and lodging sectors reached $4.6 billion, according to Dealogic data, surpassing the $4.4 billion invested in all of 2015."Global travel continues to be an attractive investment area," Sandra Horbach, cohead of Carlyle Group's US buyout team, told Business Insider. "Consumers are increasingly shifting their spending from things to experiences. Travel will also benefit from rising discretionary incomes in many emerging markets."The tourism industry saw steady growth over the past five years, helped by <a href="http://www.businessinsider.com/market-could-be-biggest-in-history-of-commerce-2016-6">the explosion of a global middle class</a> and a decline in unemployment rates around the world. Inbound and outbound trips are especially high in emerging economies like Asia and South America, where tourism spending has outpaced that of developed economies, according to research firm IBISWorld.It also helps that millennials are craving adventure and are more willing to spend on <a href="http://www.businessinsider.com/this-awesome-infographic-shows-how-millennials-spend-their-money-2016-5">experiences over material objects.</a><h2>Emerging markets</h2>For Carlyle, the bet on travel and leisure in Latin America has paid off.The firm bought a majority stake in late 2009 in <a href="https://www.carlyle.com/our-business/portfolio-of-investments/cvc-brasil-operadora-e-agencia-de-viagens-sa">CVC Brasil Operadora e Agencia de Viagens</a>, Brazil's biggest travel-tour operator by revenue. CVC said that it expects Brazil's tourism market to benefit from hosting events like the 2016 Olympic Games.The company had booked sales of $43.8 million in the second quarter this year, compared to $40.9 million a year earlier. Its shares have jumped about 40% since it went public in 2013."It's an asset-light model, which we like, and an opportunity for us to benefit from favorable secular trends in Latin America," Horbach said. "Despite a slowdown in emerging markets, CVC has performed very well as people still want to travel and explore new places." "Asset light" refers to businesses that aren't capital intensive or have high overhead to deliver their services. This approach is generally perceived as nimbler and able to scale more quickly.<h2>Online push</h2>KKR, which <a href="http://www.businessinsider.com/kkr-second-quarter-results-tension-2016-7">manages $131 billion in assets</a>, is also bullish on the digital-travel boom. Stephen Shanley, principal at the firm's technology, media, and telecommunications team, sees the opportunity in travel tours and activities booking platforms, which he said is very under-penetrated compared to hotels and flights."Online booking rates for hotels and flights are above 40% across most Western European and North American countries," he told Business Insider.That has prompted Shanley's team to look into Berlin-based GetYourGuide, which aims to be a one-stop shop for vacationers to find and book activities online. KKR <a href="http://www.businesswire.com/news/home/20151113005183/en/GetYourGuide-Raises-50-Million-Growth-Led-KKR">led a $50 million investment</a> into the startup last November to help it scale, joining backers such as Kees Koolen, former CEO of Booking.com, and Fritz Demopoulos, founder of Qunar.com.GetYourGuide covers <a href="http://files.shareholder.com/downloads/KKR/0x0x861427/1D0A1CB2-ACF7-4B0A-938E-D02180C82561/KKR_News_2015_11_13_KKR.pdf">more than 27,800 activities</a> in over 2,500 destinations around the world, according to the company's statement."We see strong demand [for Get Your Guide] in Europe, the company's core market, and we are seeing outsized demand in its newer markets, which include Asia, North America, and South America - it's a highly diversified user base," Shanley said.Carlyle's investment in luxury-tour operator <a href="https://www.carlyle.com/news-room/news-release-archive/carlyle-group-invests-luxury-inbound-tour-operator-bonotel-exclusive">Bonotel Exclusive Travel</a> is another example of buyout shops' broader push into online-travel platforms."Some of our investments are about finding places where we can leverage Carlyle's strengths to these tourism and travel-related businesses," Adam Glucksman, managing director in Carlyle's equity-opportunity fund, told Business Insider.That includes helping companies gain access to other regions where Carlyle has a local presence, or providing contacts in hotels or other travel-related industries to help the investment drive growth, he added. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/cuba-tourism-americans-problems-2015-6">4 major issues for any American who wants to visit Cuba</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Bsb3lzdTrjqITYCLxAT8ye8OQqiG8Vph" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Wall Street's big investors are piling into tourism

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Justin Sullivan / Staff / Getty Images</div></div></div>Finance Insider is Business Insider's summary of the top stories of the past 24 hours.To sign up, scroll to the bottom of this page and click "Get updates in your inbox," or <a href="http://www.businessinsider.com/newsletter/wall-street-career-advice">click here</a>.Shame. Ostracism. A shift to food stamps.This is a harsh reality for the families of white-collar criminals - hedge fund managers convicted of insider trading, or bankers nabbed for embezzlement.This is <a href="http://www.businessinsider.com/jeff-grant-lynn-springer-ministry-helps-white-collar-criminals-2016-7">what it's like when the 1% go to jail</a>.At 2 p.m. ET on Wednesday, the Federal Open Market Committee will announce its latest policy decision - the outcome of its two-day meeting in Washington. <a href="http://www.businessinsider.com/the-fed-may-be-missing-opportunity-to-raise-rates-2016-7">Stand by for the Federal Reserve to do nothing</a>.Oh, and there's a <a href="http://www.businessinsider.com/the-problems-with-federal-reserve-statements-2016-7">big problem with Fed statements</a>.Deutsche Bank's profits in the second quarter nosedived to just <a href="http://www.businessinsider.com/deutsche-bank-second-quarter-results-revenue-profit-net-income-all-fall-2016-7">20 million euros</a>, or $22 million, from 800 million euros in the same period last year. And John Cryan, the bank's CEO, <a href="http://www.businessinsider.com/deutsche-bank-second-quarter-2016-results-2016-7">said something that should frighten the bank's employees</a>.In M&amp;A news, it looks like the <a href="http://www.businessinsider.com/sab-miller-employees-told-to-stop-working-on-the-ab-inbev-deal-2016-7">biggest takeover in years is in trouble</a>. The hyper-acquisitive tech giant <a href="http://www.businessinsider.com/softbank-hires-ervin-tu-from-goldman-sachs-2016-7">SoftBank has made a big hire from Goldman Sachs</a>, and a $30 billion merger is more evidence of the <a href="http://www.businessinsider.com/linear-technology-analog-devices-merger-talks-2016-7">tech market's most dominant trend right now</a>. In tech news, it's time to take a <a href="http://www.businessinsider.com/tim-cook-report-card-2016-7">serious look at Tim Cook's leadership of Apple</a>, and here's what <a href="http://www.businessinsider.com/twitter-earnings-analysis-from-wall-street-2016-7">Wall Street is saying after Twitter's weak earnings</a>.Finally, a steak master has <a href="http://www.businessinsider.com/tips-to-grill-the-perfect-steak-2016-7">shared his 7 steps to grilling the perfect cut of meat</a>.Here are the top Wall Street headlines at midday:<a href="http://www.businessinsider.com/kkr-second-quarter-results-tension-2016-7">A $130 billion investor is fighting back against Wall Street's perceptions</a> - Executives at alternative-investing giant KKR are obviously miffed.<a href="http://www.businessinsider.com/r-steve-cohen-bets-250-million-on-firm-that-uses-algorithms-2016-7">Steve Cohen is making a big bet that computers can beat humans</a> - Billionaire investor Steven A. Cohen is committing $250 million to a Boston-based investment firm that lets scientists, developers and students submit computerized investment models and then picks the most promising ones to manage the money.<a href="http://www.businessinsider.com/kkr-on-china-and-asia-investments-2016-7">A Wall Street investor is trying to cash in on one of China's most pressing problems</a> - Alternative investment giant KKR is excitedly eyeing deals in China.<a href="http://www.businessinsider.com/analog-devices-linear-technologies-advisers-credit-suisse-2016-7">A $15 billion tech deal just landed, and there are 2 big winners on Wall Street</a> - A big deal in the semiconductor industry has just been announced, and there are two big winners on Wall Street.<a href="http://www.businessinsider.com/buying-stocks-at-the-top-still-makes-money-2016-7">If you bought stocks only at the 3 latest market tops, you'd still be up 26%</a> - Stocks usually go up.<a href="http://www.businessinsider.com/citi-disruptive-innovations-report-on-growing-innovation-in-china-2016-7">It's clear that one city is becoming a booming innovation hub, and it could change the world</a> - China has long been known for its exports, for manufacturing items quickly and cheaply for sale abroad. <a href="http://www.businessinsider.com/peerstreet-real-estate-lending-platform-2016-7">A startup backed by the hero of 'The Big Short' is attempting to bring Wall Street to Main Street</a> - Eight years after the subprime crisis, news of a startup bringing institutional real-estate exposure to individual investors may be met with some skepticism.<a href="http://www.businessinsider.com/ocular-drug-delivery-headed-for-29-billion-market-by-2030-2016-7">An unusual way to deliver drugs could be a $29 billion market by 2030</a> - A next generation of implantable eye treatments could change the way we treat eye conditions.<a href="http://www.businessinsider.com/citi-10-innovations-that-will-completely-change-the-future-of-the-global-economy-2016-7">10 innovations that will completely change the future of the global economy</a> - Innovation is what grows economies.<a href="http://www.businessinsider.com/trump-presidency-asia-2016-7">What a Trump presidency could mean for Asia</a> - Because Trump has said conflicting things during his path to securing the Republican presidential nomination, it's hard to actually predict what will happen. But it's interesting to consider some possibilities.

What you need to know on Wall Street right now

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Adam Pretty/Getty Images</div></div></div>Via Dave Lutz at JonesTrading, here's a super quick guide to what traders are talking before markets open on Thursday. Good Morning, and Good Riddance Q3! US Futures are marked about 70bp higher, but well off the overnight peaks as the Minis got rejected from 1930. This mirrors action in Europe, which saw the DAX open strong, but has encountered nothing but sell tickets since, with sentiment stock VW relinquishing 5%+ gains throughout the session. The same action held true with the FTSE, as Glencore is "only" up 2% after being nearly 7% higher on the open. Financials are a big weight, with DB in the spotlight for all that ails the German Economy. Volumes are not impressive across the continent, with Frankfurt trading 20% light to recent trends. Over in Asia, Hong Kong Closed today and Chinese Mainland exchanges for the next week due to China's "Golden Week" holiday - but that didn't stop China proxy Aussie jumping 2% as it continues to rebound on the back of the Miners thanks to KKR/Oz. The Nikkei added 2% as Financials and Materials stocks had a strong session as doves embraced a weak Tankan surveyThe US 10YY is up small as investors await Friday's US non-farm payrolls data, but that seems tenuous as a sharp bid in Germany has driven Bund Yields towards multi-month lows. The DXY is enjoying a decent morning, as the Euro breaks lower as EU PMI posts slightly weaker - but Growth focused assets are gaining ground, led by that Aussie $. Most commodities are stronger, led by a 2%+ pop in the Crude complex as WTI continues to gain ground above that 50dma. The Metals complex is mixed, with "industrial" metals making headway, but that Yellow rock continues to be used as a source of funds as "safety" trades retreat and investors ponder additional QE from the ECB and BOJ. Lumber futures are your worst commodity, losing 1.3% after yesterday's 10% "Limit Up" session. Scheduled Catalysts today include Challenger Job Cuts at 7:30 followed by Weekly Jobless Claims at 8:30. 9:45 brings Markit US Manufacturing PMI followed by the official ISM Manufacturing and Construction Spending at 10. We get natty gas Inventory data at10:30, and Fed's Lockhart at 1, followed by Atlanta Fed's Williams giving a Outlook Speech to Salt Lake Area Community around 2:30. Throughout the session, we will be getting monthly Auto Sales figures. Down in Washington, the Supreme Court may issue list of new cases it will consider for coming judicial session around 9:30 - The Atlantic and Aspen Institute hold Washington Ideas Forum (Lizzy Speaking, watch Banks), and the Senate Banking Cmte marks up crude-oil export legislation in executive session. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/global-market-meltdown-stocks-oil-2015-8">RED EVERYWHERE: It's a global market meltdown</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="F3NTU1dzpxuF4acJ9B_9g5mwKWDZ5O4E" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Here's a super quick guide to what traders are talking about right now

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;ALID=2C0FQEEPL9TK#/SearchResult&amp;ALID=2C0FQEEPL9TK&amp;VBID=2C0FC0EIYJO8&amp;POPUPPN=11&amp;POPUPIID=2C0FQEEBTAX5">Reuters/Marcelo Del Pozo</a>Spanish banderillero Antonio Jimenez "Lili" is gored by a bull during a bullfight at The Maestranza bullring in the Andalusian capital of Seville, southern Spain.</div></div></div>Here is what you need to know.<a href="http://www.businessinsider.com/the-government-is-reportedly-ending-its-quest-to-have-apple-help-it-access-data-on-an-encrypted-iphone-2016-3">Apple wins</a>. The tech giant won't have to create a "backdoor" into its product, because the US Justice Department says it has gained access to the phone of one of the San Bernardino shooters. A statement by the DOJ said, "The FBI has now successfully retrieved the data stored on the San Bernardino terrorist's iPhone and therefore no longer requires the assistance from Apple required by the Court Order." This caused Magistrate Judge Sheri Pym to vacate the original order. It remains unclear how the phone was accessed, but speculation centers on a third party an experimental technique called NAND flash mirroring.<a href="http://www.businessinsider.com/yahoo-wants-bidders-to-submit-offers-to-buy-the-company-in-the-next-two-weeks-2016-3">Yahoo bids are due by April 11</a>. The Wall Street Journal reports, bidders for Yahoo's core assets have the next two weeks to ready their bids. A note to potentially interested parties to list what assets they'd like to buy and how much they're willing to pay, in addition to how they plan to finance the deal. Telecom giants Verizon and AT&amp;T, as well as private-equity firms like TPG and KKR, are said to be among the interested buyers.<a href="http://www.businessinsider.com/sec-investigate-sunedison-cash-reporting-2016-3">The SEC is investigating Wall Street's nightmare stock</a>. SunEdison, one of the world's largest renewable energy companies, is being investigated by the Securities and Exchange Commission, according to the Wall Street Journal. The SEC is looking into how much cash the company had last summer when its stock was in free fall. At the time, SunEdison told investors it had $1 billion cash on hand, but some investors think otherwise. Shares of SunEdison tumbled 23% in after-hours trade and are down 96% over the last eight months.<a href="http://www.businessinsider.com/r-buffett-boosts-berkshires-wells-fargo-stake-to-10-percent-2016-3">Warren Buffett upped his Wells Fargo stake</a>. Buffett's Berkshire Hathaway now owns 10% of Wells Fargo, meaning the investment could see more federal scrutiny. Previously the Fed has said it would review investors' double-digit stakes in banks on a case-by-case basis while the Treasury has said it would not deem a 10% stake as "controlling" if the investor agreed in writing to limit their involvement. Citing Buffett, Reuters reports Berkshire's stake in Wells Fargo has climbed from 6.5% at the end of 2009 and 9.8% as of December 31.<a href="http://www.businessinsider.com/r-sears-ceo-lampert-buys-some-of-companys-debt-sources--2016-3">Eddie Lampert is loaning money to his company</a>. Sears CEO Eddie Lampert has bought a portion of the company's new $750 million loan, which is designed to help the company pay down older debt. Reuters reports, Lampert purchased "a couple of hundred million dollars of the new term loan" through his hedge fund ESL Investments. David Tawil, president at hedge fund Maglan Capital, told Reuters, Lampert's purchase buys time for a turnaround, or allows for more asset sales.<a href="http://finance.yahoo.com/news/lennar-reports-first-quarter-eps-100000543.html">Lennar beats</a>. The homebuilder announced earnings of $0.63 per share, easily beating the $0.52 that was expected. Revenue rose 19.8% versus last year to $1.99 billion, which was better than the $1.87 billion anticipated by the Bloomberg consensus. Home deliveries jumped 12% to 4,832. "We continue to believe that the housing market is continuing its slow and steady recovery driven by years of under production, tight inventory levels, attractive interest rates and the lowest unemployment levels since 2008," CEO Stuart Miller said in te earnings release.<a href="http://www.reuters.com/article/global-forex-idUSL5N171165">Janet Yellen speaks</a>. Fed Chair Janet Yellen will take the mic at the Economic Club of New York this afternoon. Traders will be paying close attention to Yellen's comments, which could lay the foundation for further Fed rate hikes. Yellen's speech will begin at 12:20 p.m. ET.Global stock markets trade mixed. China's Shanghai Composite (-1.3%) lagged in Asia and France's CAC (+0.6%) leads in Europe. S&amp;P 500 futures are down 3 points at 2025.Earnings reporting remains light. Dave &amp; Busters and Restoration Hardware are among the names releasing their quarterly results after markets close.US economic data flows. The Case-Shiller 20-city Index is due out at 9 a.m. ET and consumer confidence will cross the wires at 10 a.m. ET. Treasury will auction $34 billion 5-year notes at 1 p.m. ET. The US 5-year yield is lower by 2 basis points at 1.35%. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/influence-people-strategy-psychology-2016-3">5 psychology tricks to influence people and get exactly what you want </a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="ptZW8yMjE6NFl9DKdSvfUKwmpHsjldyS" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

10 things you need to know before the opening bell

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Business Insider/Julie BortWaze and FeeX co-founder Uri Levine</div></div></div>This summer, it's raining unicorns - tech startups valued at more than $1 billion - and as a result the Israeli tech scene is going absolutely crazy.Business Insider just spent a week in Israel meeting with over a dozen tech companies, and VCs. They all told us:Everyone is dreaming of becoming the next unicorn. Instead of selling their startups for $1 million to $30 million, founders are turning down multi-million acquisition offers wanting to build big companies.2015 is a record-breaker for VC funding. For the first half in 2015, 342 companies have attracted $2.1 billion, up from 334 companies nabbing $1.6 billion in the first half of 2014.The private equity bankers have arrived in droves, including Blackstone, SilverLake, KKR, Apax Partners, TPG, JPMorgan and Morgan Stanley, and they're writing writing huge checks.Chinese investors are swarming the country, joining Israeli VC funds as limited partners as well as doing a lot of huge, direct investments into startups, too. <div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Chris McGrath/Getty Images</div></div></div>"If we're going to do $4 billion in venture in 2015, the estimate I heard is that at least $500 million of that will be Chinese money, and that's direct investment not including the LP stuff," Israeli powerhouse VC Jon Medved told Business Insider. "And I think that's probably underestimated." Medved, founder of <a href="https://www.ourcrowd.com/">investment startup OurCrowd</a> and is widely known as one of the fathers of Israel's tech startup scene.Chinese investors are "at all the parties" a startup founder told us. The joke here is that Israeli border control needs to open up a special customs line "just for Chinese investors with bags of money that they can just get in the country for free," Medved quipped. This hot economy has led to ... <ul><li>Big well-funded Israeli companies starting to acquire other Israeli companies for big sums of money, too.</li><li>The first crop of Israeli serial entrepreneurs, such as Avigdor Willens, who sold Annapurna to Amazon earlier this year for a reported $350 to $375 million. Willens sold his first company, Galileo, for $2.7 billion in stock back in 2000 to Marvell Technologies.</li></ul><h2>It started when Google dropped a billion on Waze</h2><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Business Insider/Julie BortIsraeli flags fly in Jerusalem</div></div></div>When Google bought Waze for $1 billion in 2013, it was a milestone event for the country, says Medved. "Billion-dollar companies are now all over the place. Waze was the first and most important," he told us. Waze co-founder Uri Levine explained to Business Insider, "This was the first time a billion-dollar app, and a consumer app, came out of Israel," and it set "a new beacon for Israel" telling entrepreneurs to aim higher than a quick exit.The next year, Japan's Rakuten (the eBay of Japan) acquired Israeli messaging app Viber for $900 million and unicorn fever in the country began.Over and over, startup founders told us they had no interest in selling their successful companies, some of which were doing millions of dollars in revenue, some of which were doing hundreds of millions in revenue. They wanted to grow their companies past $1 billion to many billions."Israel entrepreneurs are obsessed with building unicorns," Hillel Fuld, CMO of Israeli startup Zula told us.<h2> Billion dollar startups include …</h2><ul><li>Taboola (who raised $117 million in February, $157 million total)</li><li>IronSource (who raised $105 million in two rounds from private equity funds run by JPMorgan and Morgan Stanley),</li><li>Outbrain (who filed confidential SEC documents for an IPO at a reported $1 billion valuation)</li><li>Conduit, who said it was the first Israeli internet unicorn, in 2012</li></ul>There's also a new crop of public tech companies worth $1 billion:<ul><li>MobileEye: IPO'd in 2014, with $12 billion market cap today</li><li>CyberArk, also IPO'd in 2014, market cap of about $2 billion</li><li>Wix, IPO'd in 2013, market cap of about $900 million</li><li>And there's some half-unicorns, like Varonis Systems, which IPO'd in 2014 and has a market cap of nearly $600 million, nothing to sneeze at.</li></ul><h2>Asian money everywhere </h2> "The Asia stuff is very dramatic, very real and very new," says Medved."China is the big story. But Japan for example - there had never been a visit of a Japanese Prime Minister to Israel before. In all the years of Israel's existence, what did they have to come here for? This year, the Japanese Prime Minister shows up for four days, all tech." <div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">OurCrowdOurCrowd founder, Jon Medved</div></div></div>Meanwhile, Korea's Samsung Ventures has now made "8 investments here over the last year," says Medved. Plus, "there are now Israeli companies going to list on the Singapore exchange."Israel will also be hosting the Indian Prime Minister for the first time. In February, Indian company Infosys (now run by SAP's former US CTO Vishal Sikka) bought Israeli company Panaya for $200 million. India has plans to build an R&amp;D center here. Still China overshadows them all. Investment are pouring in from Baidu, Fosun, Alibaba, Tencent, RenRen and others.Famous Chinese angel investor (and billionaire) Li Ka Shing and his Horizon Ventures fund are all over the country. Horizon was an early investor in Waze. And he's invested in about 29 Israeli startups, including Waze founder Levine's latest baby, FeeX, (raised $9 million).If there's a downside to all of this, its that Israel is starting to experience a severe talent shortage. They are now poaching each other's employees and trying to keep employees from leaving by offering better and better Valley-like perks.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Business Insider/Julie BortIronSource CEO and co-founder Tomer Bar Zeev and deputy CEO and co-founder Omer Kaplan</div></div></div>IronSource, for example, flies its 550 employees to one exotic offsite meeting every year. The whole company just got back from Greece. "Once a year, we party," CEO Tomer Bar Zeev told us. "That builds culture. It's one of the best investments we can make, investing in the company."If that fails, Chinese billionaire Li Ka Shing has an answer. He also donated $130 million to Israel's Technion, the Israeli Institute of Technology (like the MIT of Israel), one of the largest ever donations received by an Israeli university. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/israeli-firm-solar-power-energy-business-invention-2014-9">An Israeli Company Just Solved Solar Energy's Single Most Mystifying Problem</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="1jbHlvcDqSkVm1c2NvsGYgno10q1fVAD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "KKR Asia fund" and got 15 results

The IPL ecosystem value has decreased by 3.6% to Rs 45,800 crore in 2020 from Rs 47,500 crore in 2019: Duff & Phelp

BI India Partner

Google is investing $4.5 billion in India's mobile internet giant Reliance Jio and the 2 will make a new affordable Android phone

Shona Ghosh

Reliance Jio lands its 9th and 10th investment – ₹4,546.80 crore from TPG and ₹1,894.50 crore from LVMH-backed L Catterton

Sanchita Dash

Mukesh Ambani is now the fifth richest person in the world, according to Forbes

BI India Bureau

$457 billion Blackstone has poached a growth equity veteran as it pushes into a new business area

Meghan Morris

A Wall Street investor is trying to cash in on one of China's most pressing problems

Rachel Butt

The creators of 'Fortnite' just landed $1.25 billion in new investments, the largest ever financing round for a video game company

Kevin Webb

Wall Street's poaching war, Amazon's biggest test yet, and an end to the DNA testing fad

Matt Turner

Virus, vaccines and volatility: Stock market takes a wild ride in 2020

PTI

The giants of private equity have been taking a pummelling

Jonathan Marino

Wall Street's big investors are piling into tourism

Rachel Butt

What you need to know on Wall Street right now

Business Insider

Here's a super quick guide to what traders are talking about right now

Myles Udland

10 things you need to know before the opening bell

Jonathan Garber

The startup scene in Israel is going bonkers, and the Chinese are swooping in

Julie Bort