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Showing posts from February, 2022

Santander and Bankinter already have half of their sicavs in liquidation.

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They are the financial entities with the largest number of companies The sicavs are beginning to say goodbye.  Once the ban has been opened with the change in regulation  , which requires having at least one hundred shareholders with a  minimum investment of 2,500 euros or 12,500 euros  in the case of compartments, for at least three quarters of the tax period , the variable capital investment companies are announcing to the regulator their intention to go into liquidation. This situation was foreseeable, taking into account that the vast  majority completed the requirement  of one hundred shareholders, which in the European Union is only required in Spain and Portugal (in France the minimum is two) with fill-in persons, acquaintances like mariachis in financial jargon, who invested a token amount. The two banks with the largest number of companies of this type, Santander and Bankinter, with 399 and 353 sicavs respectively, have already reported at least...

Echoes of 'irrational exuberance' return with multiples of 16 times EBITDA.

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How could it be otherwise, the market looks closely at the exuberant liquidity in the hands of  private equity  , with 5,000 million euros available this year for new investments, accounting only for the capital of private Spanish managers (  dry powder  , in the jargon). .  The data shows that  investors  or  limited partners  (LPs)  continue to see private equity as a shelter in the midst of the storm  , which should make it easier for funds to divest with good returns.  Despite initial doubts,  2021 has culminated with an investment volume of 7,494 million euros by private capital in Spain.  According to ASCRI data, this is the second best record in the sector in its entire history. Already since last January, the processes announced, the return of large operations and the activity of the medium segment (  mid-market  ) draw a propitious scenario for 2022, encouraged by the growing interest of internation...

Bitcoin achieves highs, Ether also reaches a peak.

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  The crypto market has been in recovery mode in recent sessions, recording institutional inflows of $85 million. Reuters.-  Bitcoin rose to a four-week high on Monday for its second straight session of gains,  fueled in part by the liquidation of some short positions  that had built up in the virtual currency's recent three-month downtrend. . The world's top cryptocurrency hit  $44,524.18  , a level last seen in mid-January.  In the afternoon it added 3.8% to 44,024 dollars.  Since hitting a roughly six-month low on January 24, Bitcoin has gained around 35%. Ether, the second-largest digital currency in terms of market cap,  hit a three-week high of $3,180 and was later up 3.1% at $3,153.21. Read: Flexport is Silicon Valley's solution to the supply chain problem.  Why do experts expect it to sink? The cryptocurrency fell to a six-month low in late January, but since then, the token used for the Ethereum blockchain has risen roughly 47%....