Articles tagged "Rudy Adolf"
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CD&R mollifies Focus Financial 'FOMO' with non-monetary sweetener to ease the shareholder pain of dumping the company in a sour market
The New York City buyout firm is offering a 'knock-yourself-out' provision to let Focus make a last-ditch effort to find a white knight to 'cover its bases from a liability standpoint.'
February 28, 2023 at 2:54 AM
Focus Financial is pushing shareholders to take a take-it-or-leave-it private equity offer worth about $6 billion -- including $2 billion debt assumption -- despite a break-up value near $10 billion
Clayton, Dubilier & Rice's $53-a-share, or $4.1 billion, offer is predatory but likely to be accepted, in the sense that analysts imagine the rollup could be sold off in parts; Buckingham, alone, may fetch $2 billion.
February 3, 2023 at 3:03 AM
With RIA valuations ticking down and successions ticking up, Focus Financial deep sixes 'drunken sailor' pause, forgoes buyback plan and adds a CEO
CEO Rudy Adolf sees a 'softening' in multiples after a couple of frothy years when CI Financial dominated headlines and big RIA deals
August 13, 2022 at 12:39 AM
As Focus Financial shares languish, Rudy Adolf plans $200 million buyback and rebuffs questions he's overpaying for RIAs--because he avoids 'drunken sailor transactions'
The New York City rollup buys at private prices then sells at public valuations, but now the CEO's buying at public share prices in some 'privately negotiated transactions' hoping for a bounce
May 13, 2022 at 2:31 AM
Focus Financial struggles to move 'needle' but reframes opportunity from 500 $1-billion RIAs to 1,000 practices
The RIA rollup's decelerating growth rate and limited acquisition capital are among an analyst's concerns
May 7, 2021 at 1:54 AM
Focus Financial shares drop after hours as secondary offering gets filed that mostly pays off KKR and Stone Point without generating M&A capital
The New York rollup's shares have risen with RIA valuations, giving the pre-IPO investors an exit window
February 25, 2021 at 11:00 PM
Focus Financial buys B2B outsourcer -- a business model shift that stretches its M&A dollar but also introduces identity issues
The New York rollup bought $9 billion of AUM, but CornerStone Partners is still an OCIO for non-profit institutions with a set of challenges unique to its niche.
November 13, 2020 at 4:29 AM
Focus Financial CEO pumps brakes hard on M&A market, waiting for a return to 'normal' -- and buyers of Focus stock bid up price as debt ratio improves
Rudy Adolf sees RIA-seller supply catching up with serial-buyer demand soon enough and that his roll-up's discipline will pay dividends and restore its market leadership
August 25, 2020 at 3:39 AM
Focus Financial CFO admits firm needs to 'de-lever' and assures analyst $14-million splurge for posh new offices won't soon repeat
Jim Shanahan say his New York-based roll-up will attempt to get to 3.5 debt-to-equity ratio and critics wonder whether that is signal of weak pipeline of deals
November 13, 2019 at 3:30 AM
Focus Financial files a shelf registration as debt swells above critical '4X' level then its shares dropped to new low in after-hours
Focus CEO all but ruled out a secondary offering on Aug. 8 in response to a Goldman Sachs analyst who asked about leverage, then asked, again.
September 2, 2019 at 4:46 PM
Focus Financial IPO marks an RIA milestone one year on, but year two hinges on how Rudy Adolf handles the millstone around his neck--mounting debt
The rollup CEO needs to do deals to grow and debt to do deals; he also needs a window to de-leverage, but it's nowhere in sight
August 2, 2019 at 7:50 PM
Focus Financial deal for white-shoe New York City RIA adds $7.7-billion of AUM, but Focus stock remains mired in the doldrums on Wall Street
The New York roll-up makes partner of Williams, Jones & Associates, a firm of 38 employees including 14 advisors
June 4, 2019 at 4:15 AM
HiddenLevers' Raj Udeshi takes victory lap after nabbing Focus Financial account: 'We dropped a bomb in BlackRock's backyard;' But it's just a battle not the war, analysts say
The founder's analytics software firm had to beat out Aladdin but the reward is a doubling of assets and $1-million-plus contract
March 27, 2019 at 9:41 PM
In wake of Goldman Sachs presentation, Focus Financial shares hit new lows, analyst compares RIA rollup to GM's ill-fated Hummer H-1
The roll-up's share price closed at $25.51, a steep drop from the $37 where it traded on day one -- and even below the targeted $33. But is it really the ungainly, inefficient, over-priced SUV or more the Ferrari CEO Rudy Adolf promised but thrashed by an unruly market?
December 20, 2018 at 9:54 PM
Lisa's Bits: Goldman Sachs's $35-billion RIA loses nine more advisors who form Veracity Capital; Mariner makes biggest-ever RIA deal of $2 billion; Focus stock is steady in rocky market and gets 'F' rating from Schwab
In 2018 Goldman Sachs has seen more than a dozen advisors jump ship over to form RIAs; Bicknell rejuvenated RIA shows off spring-loaded M&A; Focus Finacial shares take on water but weather storm
