Leonard Kehnscherper

London

Asset Management Reporter at Bloomberg News

Asset Management Reporter @business. Views mine. [email protected] (Yes, my name exceeds 12-character limit).

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Articles

KKR’s Assura Battle Turns Into Referendum on Listed Real Estate

1 week ago | news.bloomberglaw.com | Natasha Voase |Leonard Kehnscherper

The takeover battle for UK healthcare landlord Assura Plc is turning into a broader referendum on the future of the listed property sector following years of lackluster performance and wide discounts to reported valuations. With the race intensifying between a consortium led by one of Wall Street’s biggest private equity firms and an industry rival, shareholders of London-listed Assura are split between two options.
Barclays Said to Be Among Firms Interested in Buying TSB

1 week ago | bloomberg.com | Jan-Henrik Förster |Jorge Zuloaga |Leonard Kehnscherper

A TSB bank branch in London, UK. Photographer: Betty Laura Zapata/Bloomberg(Bloomberg) -- Banco Sabadell SA’s British unit TSB is attracting initial interest from potential buyers including Barclays Plc and Banco Santander SA, according to people familiar with the matter. The banks are in the early stages of exploring separate bids for TSB, according to the people, who asked not to be named discussing private information.
Why UK’s ‘Non-Dom’ Crackdown Puts Reeves in a Pickle: QuickTake

1 week ago | news.bloomberglaw.com | Ben Stupples |Leonard Kehnscherper |Joe Mayes

The debate over the UK’s “non-dom” status has taken center stage yet again. The decision by Chancellor of the Exchequer Rachel Reeves to end a two-century old tax break for wealthy foreigners has triggered the exit of many well-heeled residents from the country. What started as a trickle of departures risks turning into an exodus as rich individuals grapple with a raft of other changes hitting their finances — from higher taxes on private equity investments to levies on private school fees.
A UK Wealth Exodus? Why ‘Non-Dom’ Crackdown Risks Backfiring for Reeves

1 week ago | bloomberg.com | Ben Stupples |Leonard Kehnscherper |Joe Mayes

London’s financial district(Bloomberg) -- The debate over the UK’s “non-dom” status has taken center stage yet again. The decision by Chancellor of the Exchequer Rachel Reeves to end a two-century old tax break for wealthy foreigners has triggered the exit of many well-heeled residents from the country.
Reeves Weighs Reversing Non-Dom Inheritance Tax Changes, FT Says

1 week ago | news.bloombergtax.com | Leonard Kehnscherper

Rachel Reeves is considering reversing a decision to charge inheritance tax on the overseas assets of non-doms, according to the Financial Times. The Treasury is reviewing the decision to abolish the tax break for non-domiciled residents amid a wave of wealthy individuals departing and lobbying from the City of London, the FT said, citing officials and financiers it didn’t identify.
Carlyle Lines Up $600 Million for BT Pension’s Buyout Strategy

1 week ago | bloomberg.com | Leonard Kehnscherper

Commuters(Bloomberg) -- Carlyle AlpInvest is providing liquidity to a private equity strategy run on behalf of a major UK pension fund, the latest example of investors turning to so-called fund financing deals as buyout firms struggle to return cash. The PE platform of Carlyle Group Inc. helped arrange a $600 million preferred equity financing for a $1 billion mandate that Federated Hermes is managing on behalf of BT Pension Scheme, according to a statement on Tuesday.
Reeves Weighs Reversing Non-Dom Inheritance Tax Changes, FT Says

1 week ago | bloomberg.com | Leonard Kehnscherper

Rachel Reeves(Bloomberg) -- Rachel Reeves is considering reversing a decision to charge inheritance tax on the overseas assets of non-doms, according to the Financial Times. The Treasury is reviewing the decision to abolish the tax break for non-domiciled residents amid a wave of wealthy individuals departing and lobbying from the City of London, the FT said, citing officials and financiers it didn’t identify.
Peel Hunt Loss Widens as UK Firm Boosts IPO Work With Santander

1 week ago | bloomberg.com | Leonard Kehnscherper

Skyscrapers on the skyline of the Square Mile financial district of the City of London, UK, on Thursday, Jan. 9, 2025. The pound dropped to a more than one-year low, stocks fell and gilts extended a fourth day of losses on concern the Labour government will struggle to keep the deficit in check as borrowing costs surge.
Metro Bank Shares Soar After Report About Pollen Street Approach

1 week ago | bloomberg.com | Leonard Kehnscherper

A Metro Bank Holdings Plc bank branch in Maidstone. (Bloomberg) -- Metro Bank Holdings Plc shares jumped the most in almost a year after a report that it was approached by Pollen Street Capital about a potential takeover offer. Sky News reported over the weekend that the bank had been contacted by the private equity firm in recent weeks regarding a possible acquisition.
Metro Bank Shares Soar After Report About Pollen Street Approach

1 week ago | news.bloomberglaw.com | Leonard Kehnscherper

Metro Bank Holdings Plc shares jumped the most in almost a year after a report that it was approached by Pollen Street Capital about a potential takeover offer. Sky News reported over the weekend that the bank had been contacted by the private equity firm in recent weeks regarding a possible acquisition. Pollen Street is one of the major shareholders in mid-sized lender Shawbrook, which had previously been in talks with Metro Bank about a possible merger, according to the report.