Oct 01, 2024

I recently read about the new Vietnam Semiconductor Strategy that is putting the ASEAN chip race in focus. This new strategy, signed by Vietnam Prime Minister Pham Minh Chinh, has been a key national priority and has been surfacing in some major external interactions amid evolving regional developments. Vietnam’s new semiconductor strategy highlights the broader ASEAN chip race underway between some of the region’s key economies, as Southeast Asia plays an important role in the global chip industry. The strategy is seeking to build advantages in a competitive regional sectoral environment, particularly for latecomers like Vietnam.

In addition to this, I came across news that emerging markets have surged, but JPMorgan has warned that it’s too early to buy for the long term. The surge in emerging markets has caught the attention of investors, but JPMorgan’s cautionary stance suggests that there may be factors at play that could affect the long-term performance of these markets. It’s important to consider the implications of this surge and the potential risks associated with investing in emerging markets.

Furthermore, California Governor Gavin Newsom vetoed a bill that would have given the state the ability to block private equity acquisitions of most health-care facilities and service providers. This decision has implications for the health-care industry and private equity firms operating in California. It’s worth noting the potential impact of this veto on the health-care business landscape in the state.

Lastly, DirecTV has agreed to buy Dish Networks from EchoStar for just $1, plus the assumption of $9.75 billion in debt. This deal has significant implications for the pay-TV industry, as it would create the country’s largest pay-TV provider. The dynamics of this deal and its potential impact on the industry are important to monitor. Today, there were several big financial moves in the business world. Frasers Group offered to buy British handbag maker Mulberry for £83m, while Gogo agreed to buy Melbourne-based Satcom Direct for upwards of $600m. In addition, French soccer star Kylian Mbappé acquired more than a 10% stake in German electronics firm Loewe Technology. On the fundraising front, Linden, a health-care PE firm based in Chicago, is targeting $4.5b for its sixth fund, Morgan Stanley Investment Management raised $750m for a climate-focused PE fund, and several other firms are also in the process of raising significant amounts of money for their funds.

In personnel news, Bobby Beniers left Polychain Capital to join CoinFund, Carmine Di Sibio, former Ernst & Young CEO, joined Advent International as an operating partner, and Tzach Segal joined Glilot Capital Partners as chief business officer. Additionally, there were reports about a merger between DirecTV and Dish, creating the biggest pay-TV provider in the US with about 18 million subscribers. There were also discussions about tax shelters and the ethical implications of junior bankers at JPMorgan already lining up jobs at private equity firms. Overall, it was a day filled with significant financial moves and discussions.

Stay Well!