Private-equity firms have amassed a record stockpile of cash, a sign of how much money is available to scoop up cheap investments if a trade war or other unforeseen event upends markets again. Such funds had $1.1 trillion globally in so-called dry powder at mid-year, according to data from Preqin. That hoard has grown sharply in the last half decade as they collected fresh money from investors. Private-equity investors typically lock money in for a number of years, giving funds discretion to use it when they believe it’s most profitable. In addition to the bread-and-butter business of buying o ..read more

Ten years after the financial crisis, some brokers are eyeing a potentially big money-making opportunity in private equity. Almost $1.2 billion was raised by private equity funds between 2006 and 2008—the bubble years leading up to the crisis. Many of these funds are now reaching the end of their natural life, presenting a chance to restructure them as managers assess what’s left in the fund and some investors try to exit. U.S. corporate finance advisory giant Duff & Phelps—best known for its valuation services, for instance in the Lehman Brothers bankruptcy—has built a three-strong team o ..read more

Private-equity investors are notoriously competitive. They put that competition on display last week in a high-stakes battle — although this time, the arena wasn’t the boardroom, but rather a ping pong table. The prize, in this case, was the chance to donate thousands of dollars of someone else’s money to a charity of their choosing. RBC Capital Markets hosted its 3rd annual “Paddle Battle” ping pong tournament on Thursday. The event, which featured teams from 32 private-equity firms, including Silver Lake Management LLC, KKR & Co., Apollo Global Management, Blackstone Group and Apax Partn ..read more

Sifting through the second-hand bin increasingly looks like the surest way to profit in private equity. Funds that buy stakes in existing private-equity funds are outperforming the rest of the private-equity world, often by a wide margin, according to a report published Thursday by Preqin. That’s drawing record investment in these so-called secondary funds, according to the data provider. Through three quarters this year, investors have committed $29.1 billion to such funds, matching the full-year record set in 2014. The tally is likely to grow substantially. Goldman Sachs Group Inc.’s asset ..read more

Private-equity firms have been putting their money to use in more creative ways of late, and recent moves by some firms suggest they are acting in a more aggressive manner. Early Wednesday, The Journal reported a consortium led by private-equity firm Bain Capital that includes Apple Inc., Seagate PLC and Dell Inc., among others, have signed a letter of intent to buy Toshiba’s chip business for more than $18 billion. Later Wednesday, Toshiba confirmed many details of the story in its news release. Western Digital was also in the running for the chip business, which Toshiba has been trying to of ..read more

Investors worried about how long markets can rally are increasingly moving to protect themselves. Include hedge-fund manager Ivan Zinn in that camp. Mr. Zinn’s New York-based Atalaya Capital Management closed a deal earlier this week selling a passive, minority stake to Neuberger Berman’s Dyal Capital Partners. That gives Atalaya, which manages more than $2.5 billion in private-debt investments, cash to help it “endure cycles” and even profit, Mr. Zinn said in a telephone interview Wednesday. “Look at where we are in the credit cycle. We think it’s relatively placid and it’s been a long time s ..read more

Bike-sharing apps require that riders put down a deposit in case the bike disappears. In China, anyway, the real problem may be the deposit disappearing. China’s Ministry of Transport, the People’s Bank of China, and several other ministries released a directive this week requesting that popular, but controversial bike-sharing apps—a current darling of investors and scourge of sidewalks—should ensure that security deposits for renting bikes don’t get mixed with other company funds and are returned promptly. As bike-sharing services have rapidly expanded in China over the past year, firms like ..read more

Blackstone Group’s shares surged to their highest point in nearly two years on news that Saudi Arabia has committed $20 billion to a new infrastructure investing business the firm is launching. Blackstone said Saturday that the business will center on a permanent capital fund with a broad mandate to invest in and build infrastructure, particularly in the U.S. The New York firm is aiming to raise $40 billion of equity to give it spending power of up to $100 billion once debt is added. The $20 billion commitment from Saudi Arabia’s Public Investment Fund is only the beginning for Blackstone. Th ..read more

TPG is known for leveraged buyouts, so what’s it doing acquiring just 4.3% of Etsy? The San Francisco private equity firm disclosed the stake late Monday and said it had contacted Etsy “to offer to engage in discussions regarding strategic alternatives.” Etsy’s stock jumped on the news, gaining 23% to $13.91 in midday trading Tuesday. The disclosure would seem more likely to come from an activist investment firm–which typically purchase small stakes in public companies and lobby for change. [RELATED: Etsy Is Soaring After Private-Equity Firms Swoop In] But lately, private equity firms have occ ..read more

Shares of Etsy are soaring Tuesday in the wake of the news late Monday that two firms had taken stakes in the company and may push for a sale. Private equity firm TPG Group Holdings revealed a 4.3% stake in the Brooklyn-based online handmade-and-vintage goods marketplace. In addition, Dragoneer Investment Group said it now holds a 3.7% position. In separate regulatory filings, both said they’ve asked Etsy “to engage in discussions regarding strategic alternatives.” That’s commonly the language used to describe an effort to explore a potential sale or merger. In response, Etsy Chief Executive J ..read more