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Finance

AI build-out financing

To finance the build-out of AI data centres during the 2020s, an unprecedented amount of capital has been mobilised in the USA in particular amid a broad competition for global technological supremacy in artificial intelligence. By September 2026, analysis showed AI capital spending was larger and faster than during any previous technological boom. Early AI investment was funded primaril

Trading basics

Alternative investment

An alternative investment, also known as an alternative asset or alternative investment fund (AIF), is an investment in any asset class excluding capital stocks, bonds, and cash.

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Apollo Education Group

Apollo Education Group, Inc. is an American corporation based in the South Phoenix area of Phoenix, Arizona, with an additional corporate office in Chicago, Illinois. It is privately owned by a consortium of investors including The Vistria Group, LLC and funds affiliated with Apollo Global Management, LLC.

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Arconic

Arconic Corporation is an American industrial company specializing in lightweight metals engineering and manufacturing. Its products are used worldwide in aerospace, automotive, packaging, oil and gas, building and construction, defense, commercial transportation, consumer electronics, and industrial applications.

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Ares Management

Ares Management Corporation is a global alternative investment manager operating in the credit, private equity and real estate markets. The company was founded in 1997, with additional offices across North America, Europe, and Asia.

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Assurant

Assurant, Inc. is a global provider of risk management products and services with headquarters in Atlanta. Its businesses provide a diverse set of speciality, niche-market insurance products in the property, casualty, extended device protection, and insurance sectors. The company's main operating segments are Global Housing and Global Lifestyle.

Banking

Banca Monte dei Paschi di Siena

Banca Monte dei Paschi di Siena S.p.A. (Italian pronunciation: [ˈbaŋka ˈmonte dei ˈpaski di ˈsjɛːna]), known as BMPS or just MPS, is an Italian bank. Tracing its history to a mount of piety founded in 1472 (554 years ago) and established in its present form in 1624 (402 years ago), it is the world's oldest bank, and after the acquisition of Mediobanca in 2025 it is the third largest Ital

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Block, Inc.

Block, Inc. (formerly Square, Inc.) is an American technology company and financial services provider for consumers and merchants. Founded in 2009 by Jack Dorsey, it is the U.S. market leader in point-of-sale systems. As of 2024, Block has 57 million users and 4 million sellers, processing $241 billion in payments annually.

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Burton's Biscuit Company

Burton's Biscuit Company is a British biscuit manufacturer. It is recognised in the United Kingdom as the second-biggest supplier of biscuits. The company was formed by the merger of Burton's Gold Medal Biscuits and Horizon Biscuit Company in October 2000. It re-branded from Burton's Foods to Burton's Biscuit Company in November 2011. It employs over 2,200 people around the UK, in three

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Cardinal Health

Cardinal Health Technologies, LLC doing business as Cardinal Health, is an American multinational health care services company, and the 15th highest revenue generating company in the United States. Headquartered in Dublin, Ohio, the company specializes in the distribution of pharmaceuticals and medical products, serving more than 100,000 locations. The company also manufactures medical a

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CKE Restaurants

CKE Restaurants Holdings, Inc. (an acronym for Carl Karcher Enterprises) is an American fast food corporation and is the parent organization for the Carl's Jr., Hardee's, Green Burrito, and Red Burrito brands. CKE Restaurants is headquartered in Franklin, Tennessee.

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Claire's

Claire's (formerly known as Claire's Boutiques, Claire's Boutique and Claire's Accessories) is an American retailer of accessories, jewelry, and toys primarily aimed towards tween and teen girls, and young women. It was founded in 1961 and is based in Hoffman Estates, Illinois, a suburb of Chicago. The company is primarily owned by Elliott Management and Monarch Alternative Capital, but,

Securities & exchanges

CME Group

CME Group Inc. (formerly Chicago Mercantile Exchange Holdings Inc.), headquartered in Chicago, Illinois, operates exchanges and provides clearing services for trading in financial derivatives such as futures contracts, options, and swaps. Its exchanges include the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX), and the Commo

Assets

Coinbase

Coinbase Global, Inc. is an American cryptocurrency exchange. It was founded in 2012 by Brian Armstrong and Fred Ehrsam. Coinbase has over 100 million users, and is the largest U.S. based cryptocurrency exchange as well as the world's biggest bitcoin custodian, as of 2024. The company operates in more than 100 countries and holds nearly US$516 billion in assets, including nearly 12 perce

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Coinstar

Coinstar, LLC (formerly Outerwall, Inc.) is an American company operating coin-cashing machines.

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Coldwell Banker

Coldwell Banker LLC is an American real estate franchise owned by Compass, Inc., with headquarters in Madison, New Jersey. It was founded in 1906 in San Francisco, and has approximately 3000 offices in 49 countries and territories. It publishes an annual house price guide, Home Listing Report. The company is not a bank; its name refers instead to a former managing partner.

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Dell Technologies

Dell Technologies Inc. is an American multinational technology company that has been headquartered in Round Rock, Texas, since 1994. It was formed as a result of the September 2016 merger of Dell Inc. and EMC Corporation. Dell Technologies ranked 44th on the 2025 Fortune 500 rankings of the largest United States corporations based on its 2024 revenue; its products include personal comput

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Dollar Tree

Dollar Tree, Inc., formerly known as Dollar Tree Stores, Inc., is an American multi-price-point chain of discount variety stores. Headquartered in Chesapeake, Virginia, it is a Fortune 500 (sometimes referred to as Fortune 200) company and as of August 1, 2026 operates 9,150 stores throughout the 48 contiguous U.S. states (and the District of Columbia) and Canada.Its stores are supported

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Eli M. Black

Eli Menashe Black (April 9, 1921–February 3, 1975) was an American businessman who controlled the United Brands Company, now known as Chiquita. His son Leon Black co-founded the private equity firm Apollo Global Management.

Finance

FactSet

FactSet Research Systems Inc., trading as FactSet, is an American financial data and software company headquartered in Norwalk, Connecticut, United States. The company provides integrated data and software. For fiscal year 2024, FactSet's total ASV and professional services revenues were $2.2 billion. FactSet's total market value is approximately $17 billion.

Finance

FICO

FICO (legal name: Fair Isaac Corporation), originally Fair, Isaac and Company, is an American data analytics company based in Bozeman, Montana, focused on credit scoring services. It was founded by Bill Fair and Earl Isaac in 1956. Its FICO score, a measure of consumer credit risk, has become a fixture of consumer lending in the United States.

Finance

FIS (company)

Fidelity National Information Services, Inc. (FIS) is an American financial technology company headquarterd in Jacksonville, Florida, which focuses on core banking, payments and capital markets. Annually, FIS facilitates the movement of roughly US$9 trillion through the processing of approximately 75 billion transactions in service to more than 20,000 clients around the globe.

Trading basics

Flora Food Group

Flora Food Group B.V. is a Dutch food company owning multiple brands of margarine, food spreads, and plant-based foods, including Flora and Blue Band. It states that it is the largest plant-based consumer packaged goods company in the world, operating in 95 countries.

Payments & settlement

Global Payments

Global Payments Inc. is an American multinational financial technology company that provides payment technology to merchants, issuers and consumers. In June 2021, the company was named to the Fortune 500. The company processes payments made through credit cards, debit cards, and digital and contactless payments.

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Guggenheim Partners

Guggenheim Partners, Inc is an American global investment and advisory financial services firm headquartered in New York City that engages in investment banking, asset management, capital markets services, and insurance services. Guggenheim has approximately 2,000 employees. The firm has additional offices in Chicago, London, Los Angeles, and San Francisco. It facilitates deals in many f

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Henry Silverman

Henry R. Silverman (born August 1, 1940) is an American entrepreneur and private equity investor. Silverman is best known for his role in building Cendant Corporation into a multibillion-dollar business services company that provided car rentals, travel reservation services as well as real estate brokerage services; it was also the largest franchisor of hotels globally.

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History of private equity and venture capital

The history of private equity, venture capital, and the development of these asset classes has occurred through a series of boom-and-bust cycles since the middle of the 20th century. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel, although interrelated tracks.

Payments & settlement

Ingenico

Ingenico is a French merchant services technology company, that facilitates secure electronic transactions. The company expanded as a manufacturer of point of sale (POS) payment terminals to also include complete merchant payment SaaS and related services.

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Intelsat

Intelsat S.A. (formerly Intel-Sat, Intelsat) is a Luxembourgish-American multinational satellite services provider with corporate headquarters in Luxembourg and administrative headquarters in Tysons, Virginia, United States. Originally formed as International Telecommunications Satellite Organization (ITSO, or Intelsat), from 1964 to 2001, it was an intergovernmental consortium owning an

Securities & exchanges

Interactive Brokers

Interactive Brokers Group, Inc. (commonly known as Interactive Brokers or IBKR) is an American multinational brokerage and financial services company headquartered in Greenwich, Connecticut. Through its subsidiaries, it provides automated trade execution and custody services for stocks, options, futures, foreign exchange, bonds, funds and other products on electronic markets worldwide. I

Finance

International Financial Services Centre, Dublin

The International Financial Services Centre (IFSC; Irish: Lárionad Seirbhísí Airgeadais Idirnáisiúnta) is an area of central Dublin and part of the CBD established in the 1980s as an urban regeneration area and special economic zone (SEZ) on the derelict state-owned former port authority lands of the reclaimed North Wall and George's Dock areas of the Dublin Docklands. The term has beco

Finance

Irish Section 110 Special Purpose Vehicle

An Irish Section 110 special purpose vehicle (SPV) or section 110 company is an Irish tax resident company, which qualifies under Section 110 of the Taxes Consolidation Act 1997 (TCA) for a special tax regime that enables the SPV to attain "tax neutrality": i.e., the SPV pays no Irish taxes, VAT, or duties.

Securities & exchanges

Jay Clayton

Walter Joseph "Jay" Clayton III (born July 11, 1966) is an American attorney who has served as the 9th director of national intelligence since August 2026. Clayton has additionally served as the White House AI czar since October 2026. He served as the United States attorney for the Southern District of New York from 2025 to 2026 and as the chairman of the Securities and Exchange Commissi

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Leon Black

Leon David Black (born July 31, 1951) is an American private equity investor. He is the former CEO of Apollo Global Management, which he co-founded in 1990 with Marc Rowan and Josh Harris. Black was the chairman of the Museum of Modern Art from 2018 to 2021. Black resigned from both Apollo Global Management and the Museum of Modern Art in the wake of revelations about his business ties t

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LifePoint Health

LifePoint Health is an American company that provides healthcare services in growing regions, rural communities and small towns. It was established in 1999 and is headquartered in Brentwood, Tennessee. As of November 16, 2018, it operated 89 hospital campuses in 30 states with more than $6 billion in revenues. In 2011, the company was included in the Hospital Engagement Network by the U.

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Linens 'n Things

Linens 'n Things, Inc. is an online retailer and former department store specializing in home textiles, housewares, and decorative home accessories. Based in Clifton, New Jersey, the chain operated 571 stores in 47 U.S. states and six Canadian provinces, and had 7,300 employees as of December 2006. The company's business strategy was "to offer a broad selection of high quality, brand na

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Masco

Masco Corporation is an American manufacturer of products for the home improvement and new home construction markets. Comprising more than 20 companies, the Masco conglomerate operates nearly 60 manufacturing facilities in the United States and over 20 in other parts of the world. Since 1969 it trades on the NYSE. Under the leadership of Richard Manoogian, the company grew exponentially

Payments & settlement

Mastercard

Mastercard Inc. (stylized as MasterCard from 1979 to 2016 and as mastercard since 2016) is an American multinational payment card services corporation headquartered in Purchase, New York. It provides payment transaction processing and other related-payment services, including travel-related payments and bookings. Its principal business globally is to process payments between the banks of

Trading basics

Michaels

Michaels Stores, Inc., doing business as Michaels, is an American privately held arts and crafts retail chain. It is North America's largest provider of arts, crafts, framing, floral and wall décor, and merchandise for makers and do-it-yourself home decorators. The company is a subsidiary of the Michaels Companies, which was founded in 2014 and headquartered in Irving, Texas. In additio

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Morrisons

Wm Morrison Supermarkets Limited, trading as Morrisons, is the fifth largest supermarket chain in the United Kingdom. As of 2021, the company had 497 supermarkets across Great Britain, and one in Gibraltar. The company is headquartered in Bradford, England.

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MSCI

MSCI Inc. (formerly Morgan Stanley Capital International) is an American finance company headquartered in New York City. MSCI is a global provider of equity, fixed income, real estate indices, multi-asset portfolio analysis tools, ESG and climate finance products. It operates the MSCI World, MSCI Emerging Markets, and MSCI All Country World (ACWI) indices, among others.

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Oceania Cruises

Oceania Cruises is a cruise line based in Miami-Dade County, Florida, that operates eight cruise ships on worldwide itineraries. It typically offers cruises that last between 10 and 14 days, but it is also known for its long cruises lasting up to 195 days. The line's president was Frank A. Del Rio Jr. who is the son of the co-founder of the brand, Frank A. Del Rio Sr., until February 18,

Trading basics

PetSmart

PetSmart is an American chain of pet superstores, which sell pet products, services, and small pets. As of 2020, PetSmart has more than 1,650 stores in the United States and Canada. PetSmart stores sell pet food, pet supplies, pet accessories, and small pets. Stores also provide services including grooming, dog daycare, dog and cat boarding, veterinary care via in-store third-party clin

Trading basics

Private equity

Private equity (PE) is stock in a private company that does not offer stock to the general public. Instead, it is offered to specialized investment funds and limited partnerships that take an active role in managing and structuring the companies. Colloquially, "private equity" can refer to these investment firms rather than the companies in which they invest.

Banking

Private equity in the 1990s

Private equity in the 1990s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital, experienced growth along parallel although interrelated tracks.

Banking

Private equity in the 2000s

Private equity in the 2000s represents one of the major growth periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital, expanded along parallel and interrelated tracks.

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Publicly traded private equity

Publicly traded private equity, also known as publicly quoted private equity or publicly listed private equity, is an investment firm or investment vehicle, which makes investments conforming to one of the various private equity strategies, and is listed on a public stock exchange.

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Smart & Final

Smart & Final is a chain of warehouse-style food and supply stores based in Commerce, California, which developed through a series of mergers and expansions. The oldest of the combined companies, Hellman, Haas & Co., was founded in 1871 in Los Angeles. The company operates over 250 stores in the Western United States and 15 in northwestern Mexico.

Trading basics

Taxation of private equity and hedge funds

Private equity funds and hedge funds are private investment vehicles used to pool investment capital, usually for a small group of large institutional or wealthy individual investors. They are subject to favorable regulatory treatment in most jurisdictions from which they are managed, which allows them to engage in financial activities that are off-limits for more regulated companies.

Trading basics

The Michaels Companies

The Michaels Companies, Inc. is an American retail holding company, headquartered in Irving, Texas. It was formed as a parent company of Michaels in 2014. As of 2021, The Michaels Companies operates its flagship brand, Michaels (in the United States and Canada), and Artistree, a manufacturer of custom and specialty framing merchandise. There are over 1,252 arts and crafts stores located

Trading basics

United Rentals

United Rentals, Inc. is an American equipment rental company, with about 16 percent of the North American market share as of 2022. It owns the largest rental fleet in the world with approximately 4,800 classes of equipment totaling about $20.59 billion in original equipment cost (OEC) as of 2025. The company has a combined total of 1,625 locations, including an integrated network of 1,50

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Valpak

Valpak Direct Marketing Systems, LLC, commonly known as Valpak, is a North American direct marketing company owned by AmatoMartin. Valpak provides print, mobile and online advertising, customer data and coupons. Valpak mails coupons to 41 million demographically targeted households each month and millions more consumers through its advertising postcards and website every year.

Trading basics

Walton Enterprises

Walton Enterprises LLC (WEI) is an American investment holding company based in Bentonville, Arkansas, that serves as a family office to manage the wealth of the Walton family, the owners of Walmart.