PE firms' legal wars — KKR targets rich clients — Companies use ESGs to bolster IPOs

By Jordan Parker Erb

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On the agenda today:

Let's get started. 

PE firms are stuck in a power struggle with their investors

A stressed big law worker with a laptop over her head surrounded by file folders and a gavel to the right side on a red background. Papers are up in the air and a document stamped with "PRIVILEGED" is in the very front.
Samantha Lee/Insider

Private-equity firms are quarrelling with investors: fund managers say big clients have untenable demands, while investors say they're being forced to sign away rights — and lawyers are raking in cash no matter what.

KKR is angling to reach more wealthy clients

KKR & Co.
Igor Golovniov/SOPA Images/LightRocket via Getty Images

Private-equity giant KKR is building out its sales team and boosting its marketing tactics in an effort to win over more private wealth clients. Here's what else the firm is doing to expand its client base.

Tricolor used this pitch deck to win over BlackRock investors

Head shot of Daniel Chu, CEO and founder of Tricolor
Tricolor

Tricolor, an alternative auto lender that serves thin- and no-credit Hispanic borrowers, used a 25-page deck to raise $90 million from BlackRock investors. See the pitch deck Tricolor used to raise the funds.

How "do-gooder" companies are ramping up their IPOs

Chobani employee stacking boxes
Chobani

So-called "do-gooder" companies, like eyewear brand Warby Parker and yogurt company Chobani, are increasingly touting sustainability and ESG missions to boost their public offerings. But experts say their IPOs steer clear of specific metrics for fear of liability or investor backlash. Here's why.

Steve Cohen, Ilana Weinstein dish on hedge-fund talent

steve cohen hedge funds 4x3
Point72; Shayanne Gal/Insider

In a panel with Dmitry Balyasny and Mike Rockefeller, Cohen and Weinstein talked about recruiting and retaining top talent, and the most important parts of launching a fund. Read the biggest takeaways from their conversation.

Asset management M&A is heating up

A large yellow sign that reads "State Street Global Advisors" hangs on beige-colored pillars in front of the New York Stock Exchange. American flags hang in front of the large yellow sign.
Brendan McDermid/Reuters

Invesco is in talks to merge with State Street Global Advisors, according to the Wall Street Journal. Analysts don't expect consolidation in the asset management industry to slow down anytime soon — so we're tracking some of the industry's likeliest buyers and sellers.

On our radar: