Latest news with #MilkenInstituteGlobalInvestors'Symposium
Yahoo
24-03-2025
- Business
- Yahoo
Boehly causes a stir with stadium comments
Chelsea co-owner Todd Boehly has said he and majority ownership group Clearlake Capital could "go different ways" if they cannot agree on plans to either develop Stamford Bridge or relocate to a new stadium. In an interview with Bloomberg TV, the US billionaire said: "We have a big stadium development opportunity that we have to flesh out. "That's where we either align or ultimately decide to go our different ways." However, Boehly also said in the interview at the Milken Institute Global Investors' Symposium that the "status quo is just fine". A rift between Boehly's camp and Clearlake Capital, which owns 61.5% of Chelsea, became public in September 2024. Clearlake founders Behdad Eghbali and Jose Feliciano have been claiming power which once belonged to Boehly behind the scenes. They have increasingly guided the stadium project, with previously appointed architect Janet Marie Smith, who worked with Boehly on the Dodgers Stadium, being replaced by the firm Populous. It is unclear exactly what part of the stadium plan could cause a divide, and Chelsea continue to explore all options under the leadership of the club's president, Jason Gannon. There is an acceptance from all parties that any plans to build what they hope will be the best stadium in the UK is incredibly difficult. The rising costs of building a stadium, the intricacies of working in an expensive part of west London and fan pressure make this situation a uniquely difficult one. In the Bloomberg TV interview, Boehly added: "Obviously, inside of London it's really complex. It's not as if we're building something in the middle of a rural environment. "We have a lot of constituencies to make sure that we care about. Certainly the Chelsea fanbase is one." Neither Boehly nor Clearlake have responded to requests for a comment.
Yahoo
24-03-2025
- Business
- Yahoo
Global Investors Tout Improving China Sentiment at Milken
(Bloomberg) -- Global investors are seeing signs of improving sentiment toward China, though it will take more conviction for big, long-only funds to return. They Built a Secret Apartment in a Mall. Now the Mall Is Dying. Chicago Transit Faces 'Doomsday Scenario,' Regional Agency Says LA Faces $1 Billion Budget Hole, Warns of Thousands of Layoffs New York Subway Ditches MetroCard After 32 Years for Tap-And-Go Despite Cost-Cutting Moves, Trump Plans to Remake DC in His Style That's the conclusion of many investors congregating at the Milken Institute Global Investors' Symposium in Hong Kong on Monday. The chief executive officer of Blue Pool Capital, which helps oversee billionaire Joe Tsai's fortune, said he's seen an increase in foreign investors visiting Hong Kong, including private equity, hedge funds and long-only managers. 'This is the core to bringing Hong Kong to the place it should be,' Oliver Weisberg said during a panel. The warming sentiment was echoed by others. There's 'absolutely room' for China's stock market rally this year to continue after artificial intelligence firm DeepSeek reignited investor interest, Janet Perumal, head of Asia-Pacific at Wellington Management Singapore Pte said during an interview with Bloomberg Television. Chinese stocks have rebounded this year, particularly in Hong Kong, as the government stepped in with more measures to salvage its ailing property market, boost consumption and support private enterprises. Global investors have been diversifying from the US, as Donald Trump's 'America First' strategy adds risks to the global economy. Perumal said Chinese company valuations are still significantly lower on a global basis, especially compared with the US. Global investors have under-appreciated the quality of some Chinese firms such as the internet sector, she said, citing higher margins and better shareholder returns. While the Hang Seng Index in Hong Kong has rebounded nearly 18% this year, investors are looking for more evidence that this rally isn't just another false start. China's domestic stock index by contrast has been little changed. Big pensions and long-only funds still remain on the sidelines. Aaron Costello, head of Asia at Cambridge Associates, which helps institutional investors allocate capital, said global investors haven't been buying the China rally yet. Most of the inflows into Hong Kong are from the mainland, and most active managers are underweight China, he said during a panel. Marc Antaki, deputy chief strategy and risk officer of Mubadala Investment Co., said his fund has stayed invested in China even when other global peers pulled out of the country. The sovereign investor has been accelerating capital deployment pan Asia, including in India, Japan and South Korea, he said. Meanwhile, Hong Kong will eventually benefit from the integration of the so-called Greater Bay Area, which includes the nearby Chinese mega cities of Shenzhen and Guangzhou, said Goodwin Gaw, chairman of Gaw Capital Partners. 'I call it blood swapping,' Gaw said, referring to the increased labor mobility among the finance, tech and manufacturing hubs, which have a combined population of 86 million people and an economy worth $2 trillion. 'Blood swapping will actually happen where these four big economies currently linked by world-class infrastructure with the bridges and the high-speed train will eventually be one big whole economy,' Gaw said. Retirees will move to cheaper cities in the mainland, leaving space for high-level workers in tech and finance in Hong Kong, he added. 'When the swap happens with a more porous border it would make the Greater Bay Area an even bigger and stronger story,' Gaw said. --With assistance from Joanne Wong and Shawna Kwan. (Updates with fund comment from 10th paragraph) A New 'China Shock' Is Destroying Jobs Around the World How TD Became America's Most Convenient Bank for Money Launderers Tesla's Gamble on MAGA Customers Won't Work One Man's Crypto Windfall Is Funding a $1 Billion Space Station Dream The Real Reason Trump Is Pushing 'Buy American' ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
24-03-2025
- Business
- Bloomberg
Eldridge Industries on Asia Strategy
Todd Boehly, Co-Founder, Chairman and CEO at Eldridge Industries, discusses the opportunities he sees in Asia, as well as plans for the asset and insurance manager that he recently set up. He speaks with Haslinda Amin on Insight from the sidelines of the Milken Institute Global Investors' Symposium in Hong Kong. (Source: Bloomberg)
Bloomberg
24-03-2025
- Business
- Bloomberg
Global Investors Tout Improving China Sentiment at Milken Event
Global investors are seeing signs of improving sentiment toward China, though it will take more conviction for big, long-only funds to return. That's the conclusion of many investors congregating at the Milken Institute Global Investors' Symposium in Hong Kong on Monday.
Bloomberg
24-03-2025
- Business
- Bloomberg
PIMCO President Stracke on Business Strategy
Christian Stracke, President and Global Head of Credit Research at PIMCO, gives an update on the asset manager's international strategy and his macro outlook. He speaks with Haslinda Amin on Insight from the sidelines of the Milken Institute Global Investors' Symposium in Hong Kong. (Source: Bloomberg)
