Latest news with #Fortune1000
Yahoo
3 days ago
- Business
- Yahoo
KKR ranks as top alternative asset manager in Fortune 500
Greetings, Term Sheeters. This is finance reporter Luisa Beltran, subbing for Allie. Three well-known private equity firms—Blackstone, KKR, and Apollo Global Management—made the Fortune 500 this year. While these three firms started off as private equity, they have since branched out into other sectors and are now considered alternative asset managers. For many, Blackstone, KKR, and Apollo are still known for their PE roots, and I only mention this because private equity hasn't been doing so well lately. Even though some tariffs are on pause, many mergers are on hold due to uncertainty and volatility. The IPO market, which has crawled since 2021, appears to be on an upswing but it's still too early to say we're in a rebound. Without M&A or IPOs, private equity has struggled to sell its deals. In the first quarter, the number of PE equity exits dropped 44% year over year to 323 transactions valued at $73.79 billion, according to PitchBook. Without these realizations, many PE firms have struggled to return money to their investors. (Apollo is apparently the exception, returning nearly $2 billion to fund investors from April to May 22, according to the Wall Street Journal.) This has led to a hard market for fundraising, which declined 35% to $116 billion globally in Q1 compared to the same period in 2024. (Not everyone has had problems raising money. Thoma Bravo, the software focused investment firm, said Tuesday it raised more than $34.4 billion for three funds, including $24.3 billion for its flagship XVI pool.) Luckily for Blackstone, KKR, and Apollo, private equity is just one of their strategies. Apollo is one of the biggest lenders on Wall Street, while Blackstone is a large credit and real estate investor, and KKR still does PE but has expanded into other asset classes like real estate, credit, and infrastructure. (Other PE firms like Carlyle Group, EQT, Ares and TPG weren't big enough for the Fortune 500 but made the Fortune 1000 ranking.) But this year has still been tough. The stock prices of many public alt managers have tumbled. Blackstone is down 30% from its 52-week high of $200.96, which it reached in November. KKR hit a 52-week high of $170.40 in January but has since fallen 29% and Apollo is off nearly 31% since reaching its year high of $189.49 in December. When it comes to the Fortune 500, in which companies are ranked by gross revenue, I was surprised by how the three firms ranked. KKR was ranked highest of the trio, despite having the smallest amount of assets under management. Founded in 1976, KKR is currently led by co-CEOs Joseph Bae and Scott Nuttall. The firm, which made it into the S&P 500 last year, had $664 billion assets under management as of March 31. KKR placed 145th on the Fortune 500, the highest of the three alt managers, with about $30 billion in 2024 gross revenue. Apollo, the alt firm led by Marc Rowan, had $785 billion in AUM at the end of Q1. Apollo ranked 163rd on the Fortune 500 with about $26.2 billion in 2024 gross revenue. Blackstone, which first made the Fortune 500 in 2014, is easily the biggest of the public alt managers with $1.2 trillion in assets under management. In 2024, it produced $13.2 billion in gross revenue, placing 321th on the Fortune 500. See you tomorrow, Luisa BeltranX: @LuisaRBeltranEmail: a deal for the Term Sheet newsletter here. Nina Ajemian curated the deals section of today's newsletter. Subscribe here. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
6 days ago
- Business
- Business Wire
UKG Acquires Shiftboard, a Leading Energy and Manufacturing Employee Scheduling Solutions Provider
LOWELL, Mass. & WESTON, Fla.--(BUSINESS WIRE)-- UKG, a leading provider of HR, payroll, and workforce management solutions, today announced the acquisition of Shiftboard, a leading employee scheduling software platform for mission critical operations in the oil and gas, energy, and manufacturing industries. Trusted by BASF, Bridgestone, Daisy Brand, and Shell, Shiftboard helps organizations solve their complex workforce scheduling challenges, such as aligning their labor strategy with production demand, supporting compliance with union regulations, and ensuring 24/7 operational continuity, while also enhancing frontline employee engagement and job satisfaction. Customers in the oil and gas, energy, and manufacturing sectors will benefit from an AI-first suite experience that optimizes productivity and efficiency with data-driven insights and recommendations. Share More than 500 organizations use Shiftboard's intelligent automation to create adaptive, employee-friendly schedules that help managers align staffing with immediate operational needs, ensuring coverage as plans change. According to a customer survey, Shiftboard resolves up to 90% of daily workforce scheduling challenges. 1 The integration of Shiftboard's industry-specific employee scheduling platform with the UKG Pro Workforce Management™ suite will provide customers in the oil and gas, energy, and manufacturing sectors with a powerful, AI-first suite experience that optimizes productivity and efficiency with data-driven insights and recommendations. "For hundreds of organizations navigating some of the most intensely regulated industries, Shiftboard's industry-leading employee scheduling engine has been a game changer, unlocking new levels of efficiency, flexibility, productivity, and employee engagement in sectors defined by rapidly changing production demands," said Rachel Barger, president, go-to-market at UKG. "Together, we're going to help our customers usher in a new generation of workforce operations across the oil and gas, energy, and manufacturing sectors, defined by AI, workforce insights, and improved employee sentiment.' 'Mission-critical organizations worldwide trust Shiftboard to simplify complex workforce challenges and support their most vital operations,' said Sterling Wilson, president and CEO of Shiftboard. 'Joining forces with UKG, the global leader in workforce management and a true innovator in the future of workforce operations, will significantly amplify the impact and reach of our industry-proven technology.' Headquartered in Seattle, Washington, Shiftboard has approximately 50 employees in the U.S. and Canada that will bring their deep domain expertise into UKG, which is the #1 global workforce management provider by market share. 2 UKG solutions help keep two-thirds of Fortune 1000 businesses running, including 70% of Fortune 500 manufacturers. The acquisition was completed on May 30, 2025. Supporting Resources About UKG At UKG, our purpose is people. We are on a mission to inspire every organization to become a great place to work through HCM technology built for all. More than 80,000 organizations across all sizes, industries, and geographies trust UKG HR, payroll, and workforce management cloud solutions to drive great workplace experiences and make better, more confident people and business decisions. With the world's largest collection of people data, work data, and employee sentiment data, combined with rich experience using artificial intelligence in the service of people, we connect employee and workforce insights with business outcomes to show what's possible when organizations invest in their people. To learn more, visit All other trademarks, if any, are property of their respective owners. All specifications are subject to change.
Forbes
25-05-2025
- Business
- Forbes
Carnegie Mellon University Is Training A Next Generation Of Data & AI Leaders
CMU Chief Data and AI Officer Program Carnegie Mellon University How are Fortune 1000 companies and leading global organizations developing the next generation of data and AI leaders? This is a question that companies are being forced to take seriously as they recognize the need to prepare for an AI future that relies on a strong foundation of reliable and trusted data. First established over a decade and a half ago, the Chief Data Officer (CDO) role has evolved in an ongoing effort to meet the rapidly changing requirements of data and AI leadership. In 2012, just 12% of Fortune 1000 companies had appointed a CDO. Adoption of the CDO role has increased to the point that by 2025, 84% of the Fortune 1000 and global organizations that were surveyed reported having appointed a CDO. While the CDO role has become ubiquitous, it has also evolved to meet the rapidly evolving requirements of companies seeking to leverage data as a business asset, and now as a foundation for AI. Since its inception, the CDO role has evolved from a risk and compliance focus in the wake of the 2008-2009 financial crisis, to a business growth and innovation focus. In 2017, just 44% of executives responded that the role was focused on innovation and growth. By 2025, the number of executives reporting that the CDO role was focused on growth and innovation had increased to 80%. Today, 89% of leading organizations report that AI will be the most transformational technology in a generation, and 93% state that interest in AI is leading to a greater focus on data. With 43% of executives advocating the appointment of a Chief AI Officer (CAIO), how will these changes lead to an evolution of the CDO role in an AI-future? Launch of the CMU Chief Data and AI Officer (CDAIO) Program It was in this context that I recently spoke with David Ulicne, program director of the Carnegie Mellon University (CMU) Chief Data and AI Officer (CDAIO) Certificate Program, David Steier, Distinguished Service Professor and program faculty lead for the CDAIO program and founding members of the program leadership team. First launched in 2020, the Carnegie Mellon CDAIO program (originally launched as the Chief Data Officer program) has trained over 250 data and AI leaders since its inception. Reflecting on the establishment of the CMU CDAIO program, Ulicne comments, 'The CMU Chief Data and AI Officer (CDAIO) Program was born from a clear market need we identified several years ago: organizations across industries were struggling to turn data and AI into true strategic assets, and there was a lack of senior leadership equipped to bridge technical capabilities with executive decision-making.' He adds, "From day one, our mission has been to equip technical executives to lead in the C-suite with strategic, communication, and business acumen." The initial impetus for the CDAIO certification program came from conversations with industry leaders, alumni, and CMU faculty who saw the rapid rise of CDO and CAIO roles but found few structured, rigorous programs addressing their unique challenges. Ulicne comments, 'CMU, with its legacy at the intersection of AI, data science, management, and public policy, was uniquely positioned to meet this need by designing a program grounded in academic rigor yet intensely focused on the practical demands and high expectations of senior executives.' Ulicne explains, 'The CDO/CDAIO role is evolving rapidly from being seen as a technical specialty to becoming a central driver of business strategy and organizational culture.' He continues 'Today's CDOs and CAIOs are expected to drive revenue growth, innovation, ethics, and societal impact—not just IT strategy." Ulicne adds, 'We're seeing a convergence of roles. The CDO, CDAIO, and even CIO are increasingly expected to work as a unified force orchestrating digital transformation. Tomorrow's CDO won't just align with business strategy — they'll help define it." Steier, who also holds a PhD from Carnegie Mellon, held leadership roles in management consulting before returning to CMU. Steier comments, 'The program has grown significantly in both scope and impact, driven by continuous feedback from industry partners and our alumni network.' He continues, "We began with data governance and analytics leadership; today, we prepare leaders to navigate the full spectrum of AI-driven transformation'. Steier adds, 'Over time, we've incorporated emerging areas like generative AI, data ethics, privacy, change management, and navigating complex global regulatory frameworks.' Steier adds, 'Today, our global cohorts bring diverse executive perspectives to each session. We've complemented those sessions with robust alumni engagement, executive forums, and ongoing learning, consistently raising the bar for transformational impact." He concludes, 'Data and AI are no longer support functions—they're now core to business strategy and execution. AI is optimizing global supply chains, predicting medical outcomes, and designing next-generation products before a single prototype is built." Enriched by Industry Data & AI Leader Participation Carnegie Mellon is no stranger to executive educational certificate programs for technology leaders. CMU launched a Chief Information Officer (CIO) certificate program in 2002, and a Chief Information Security Officer (CISO) certificate program in 2013. The CMU CDAIO program, which began its 7th semester last month, began hosting 35-40 students per semester. The enrollment has grown commensurate with the demand for data and AI leadership roles. The most recent Fall 2024 class comprised 67 participants. The new semester which launched in May will host 102 class participants. The CDAIO Program draws on world-renowned faculty from CMU's Heinz College of Information Systems and Public Policy, in addition to current and former CDOs, CAIOs, and CIOs from Fortune 500s, government agencies, and nonprofits. Ulicne comments, 'Their role isn't just to teach; it's to mentor, challenge, and empower our students. This fusion of theory and practice ensures that every session is not only insightful but directly actionable for leaders navigating today's complex environments.' Ulicne explains, 'Our instructors are a cornerstone of the program's success. We meticulously select them based not only on deep expertise but also their ability to engage and mentor executive learners.' He continues, "We built a program faculty of scholar-practitioners who blend cutting-edge research with real-world executive experience." The CMU CDAIO program is supported by 15 faculty instructors and 30 guest coaches/experts. I have had the personal privilege of participating as a guest expert since the program's inception. Inderpal Bhandari is one of the founding program leaders. Bhandari completed his PhD in Computer Engineering at Carnegie Mellon and went on to become one of the first executives to hold the Chief Data Officer title, dating back to his appointment to the role in 2006 at Medco. He later served as the Global CDO at IBM for nearly 8 years. Today, Bhandari is Distinguished Executive in Residence at Carnegie Mellon and a member of the board of directors at Walgreens Boots Alliance and the AES Corporation Bhandari serves as Program Advisory Board Chair for the CMU CDAIO Program. He comments, 'The program is designed to be highly intensive and hands-on. We focus on very practical preparation for the CDO role. This includes a heavy focus on management skills such as alignment with the business, collaboration with peers, learning by doing, and helping change the organizational culture'. He continues, 'What sets the program apart is the intensive immersion that takes place. We teach our students what it's like to be in the CDO role'. Looking to the future of data and AI leadership roles, Bhandari recognizes the rapid turnover of CDO incumbents -- with a quarter of CDOs serving in the role for less than 2 years and over half serving for less than 3 years -- and notes that he expects this trend to continue given the complex demands of the CDO role. Allison Sagraves is another faculty leader who has been with the CDAIO program since its inception. Sagraves was formerly a pioneering Chief Data Officer at M&T Bank, where she served as the company's inaugural CDO, a role that she held from 2015-2020. Sagraves proudest accomplishment is what she describes as creation of a 'lifelong community'. She explains, 'Teaching the capstone leadership class in the Carnegie Mellon CDAIO program is one of the most rewarding parts of my work. The curriculum is top tier, but the real secret sauce is the generous community.' Sagraves continues, 'We learn from each other, and I'm still in touch with students from every cohort since 2021.' She concludes, 'In a world where AI is changing everything, it's rare to be part of a network like this. I firmly believe that the CMU program is the very best program out there for data and AI leaders.' Krishna Cheriath has also been heavily involved with the CDAIO program since its inception. Krishna is currently Chief Digital Officer with Thermo Fisher Scientific with responsibilities for digital products/services, data, analytics, and AI. He previously held Chief Data and Analytics Officer roles at Zoetis and Bristol Myers Squibb. Krishna comments, 'This program is all about practical experience. The faculty comprises of a mix of academic and practitioner perspectives. We focus on putting students into the position of an incoming CDAIO'. He adds, 'Driving business value is the key to success in the CDAIO role. We help students learn how to collaborate with and influence the business leaders that they serve.' Krishna concludes, 'The speed of change is only increasing. Today's CDAIOs must be highly adaptable and nimble. Who knows what new AI capabilities will emerge in the coming months and years'. Looking to the Future of Data & AI Leadership Needs Looking to the future evolution of data and AI capabilities and the demands on data and AI leaders, Ulicne reflect, 'Innovation doesn't come from the technology alone — it comes from leadership that understands how to harness these new data-centric tools ethically and strategically for competitive advantage and societal benefit. That's exactly what we train our CDAIOs to do'. Steier adds, 'This shift means our education model must go beyond teaching tools and frameworks — we must instill strategic leadership, organizational change capabilities, strong communication and influence skills needed to engage the board and rally the organization, and a deep understanding of data's broader societal implications.' He notes, 'Our curriculum reflects that, with a strong emphasis on influence, ethical stewardship, and transformational leadership—preparing executives not just to adapt to change, but to lead it'. As AI becomes more deeply embedded across products, operations, and customer experiences, data and AI leadership will become a boardroom imperative. This requires navigating not only the technology but also the complex global regulatory and ethical landscape. Ulicne notes, 'Data and AI are two sides of the same coin—you can't collect the right data without knowing how it fuels AI, and you can't trust AI without governing the data. The future demands leaders who master both." Future CDOs and CAIOs will need to be fluent across business, technology, and human behavior, and will increasingly serve as crucial stewards of trust in how data and AI are developed and deployed. The Carnegie Mellon Chief Data and AI Officer (CDAIO) Program is helping redefine executive leadership for the AI era. By combining technical expertise, business strategy, and ethical stewardship, the program is equipping senior leaders to drive innovation, trust, and transformative change in a data-driven world. As industries converge around AI, CMU is helping preparing executives not just to adapt, but to lead. Ulicne concludes, 'Many of our alumni are now leading national data/AI strategies, building data-driven businesses from the ground up, or pioneering ethical AI initiatives in global organizations. It's incredibly rewarding to witness the dynamic interactions within each cohort, as these experienced leaders challenge and learn from one another, forming lasting professional bonds. Watching them grow into confident, visionary leaders—and knowing CMU played a role in that journey—is deeply fulfilling.'
Yahoo
13-05-2025
- Business
- Yahoo
This CEO said no to a 15-year wait for his dream job. He took the fast track instead: ‘I don't have that much time'
The path to the C-suite often follows a familiar blueprint. For Gen Digital CEO Vincent Pilette, it was anything but. Pilette says he never had CEO aspirations, much preferring the role of CFO. So he did what few would: Early in his career as a financial analyst at a Fortune 500 IT company, he told the company's then-CFO he wanted her job, he says. But when she outlined a rigid 15-year succession plan, he walked. 'I don't have that much time,' he told Fortune. Though he'd only overseen a sliver of financial operations at the time—far from the typical CFO résumé stacked with experience across accounting, FP&A, and M&A—he began pursuing finance chief roles at smaller public companies. Titles never defined him, he says. Impact did. After 'hundreds of nos,' including an initial rejection from Electronics for Imaging, he eventually landed the CFO seat there in 2011. Two years later, he joined Logitech, where working under CEO Bracken Darrell reshaped his view of financial leadership as a blend of fiscal discipline and operational execution to drive growth. Pilette, whose work at Logitech blended both financial responsibilities and internal operations, began to embrace the CFO role not only as a financial steward but as a catalyst for value creation and operational change, he says. Then came the unexpected. Recruited to join cyber security company Symantec as CFO in 2019, Pilette says he arrived on the very day the CEO was fired. What followed was a crash course in crisis leadership. He led the split and sale of half the business the same year, with the remainder branded as NortonLifeLock. Months later, in a twist of executive musical chairs, he was tapped as CEO. Under Pilette's leadership, NortonLifeLock merged with Avast in 2022 to form Gen Digital, a cyber security giant now serving nearly 500 million users. With a market cap north of $17 billion, Gen Digital recently acquired fintech firm MoneyLion to broaden its consumer security offerings. And it landed at No. 840 on the 2024 Fortune 1000. Pilette says his unconventional climb is proof there's no single route to the top. 'Too many people feel there is one recipe,' he says. 'But there isn't.' He became a CFO without the usual credentials. He then became a CEO without chasing the title, driven instead by curiosity, discipline, and a relentless focus on value, he says. His path suggests that sometimes, the fastest way up is the willingness to first go sideways. Lily Mae This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-04-2025
- Business
- Yahoo
Veza garners $108m in Series D round
Veza, a company specialising in identity security, has raised $108m in its Series D funding round led by New Enterprise Associates (NEA). The round also saw participation from new investors Atlassian Ventures, Workday Ventures, and Snowflake Ventures, alongside existing backers Accel, Capital One Ventures, Ballistic Ventures, Blackstone Innovations Investments, GV (Google Ventures), JP Morgan, Norwest venture partners and True Ventures,. The latest funding brings Veza's total equity raised to $235m and values the company at $808m. Veza said the funds will be used to accelerate its global go-to-market strategy and support continued product development. With this latest funding, Veza has now raised a total of $235 million in equity financing. Company co-founder and CEO Tarun Thakur said: 'Veza's industry-first approach is rooted in assembling all access permissions, authorisation data, and activity into a unified data model, enabling customers to make fast, intelligent decisions that reduce risk and enforce least privilege. 'In a space crowded with startups and big-name entrants, Veza has emerged as the leader in identity security. Our latest funding is a wake-up call to the industry: the future of security starts with identity, and Veza leads the way.' The company's Access platform is currently securing access for millions of users across enterprises, including several Fortune 1000 companies. Managing more than 20 billion permissions, Veza offers insights into the challenge of permissions and entitlements that many organisations face. The Access Platform provides a comprehensive solution, visualising, monitoring, and controlling entitlements to ensure compliance and enforce the principle of least privilege. It addresses various use cases, from privileged access monitoring to non-human identity security, and from access entitlement management to next-generation Identity Governance and Administration. Atlassian Ventures head Peter Lenke said: 'Veza gives 'out of the box' dashboards and reports that provide intelligence across the customer's data access environment, resources, and permissions. 'In addition, the inclusion of an Atlassian Jira integration with Veza's platform enables Veza customers to get real-time monitoring of access requests, access searches, and access intelligence for identities, permissions, and resources that are accessing Jira data.' Founded in 2020, Veza has received backing from investors including Accel, Bain Capital, Ballistic Ventures, GV, NEA, Norwest Venture Partners, and True Ventures. "Veza garners $108m in Series D round" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
