J. Christopher Flowers, chairman and chief executive officer of U.S. private-equity firm J.C. Flowers & Co., said Spain and Ireland are his preferred countries for investment in Europe as companies sell units.
Josef Ackermann, the former chief executive officer of Deutsche Bank AG who now chairs Zurich Insurance Group AG, said allowing the euro to fail would be more costly than deepening the region’s fiscal and political ties.
J. Christopher Flowers, chairman and chief executive officer of private equity firm JC Flowers & Co., said inflation is the best way to cut debt as central banks in the biggest advanced economies push ahead with monetary easing.
Royal Bank of Scotland Group Plc is starting to whittle down bidders for the 316 branches regulators are forcing it to sell as some of the U.K.’s biggest fund managers face off against offers from U.S. private equity firms, people with knowledge of the discussions said.
Royal Bank of Scotland Group Plc is telling bidders for the 316 branches it’s selling they will be able to buy a bond convertible into shares of the division after an initial public offering, according to four people with knowledge of the talks.
U.S. private-equity investors Wilbur Ross and J. Christopher Flowers, who’ve made billions of dollars turning around industries from steel mills to Japanese banks, are lining up to finance British homebuyers as the country’s biggest banks pull back.
Private equity, an investing trade plied by 4,500 firms with $3 trillion in assets, is bracing for a shakeout that’s been brewing since the collapse of credit markets choked off a record leveraged-buyout binge.