Jun 2, 2017

Private equity is raising record amount of cash

Shizuo Kambayashi / AP

This has been a record-breaking few weeks for private equity, in terms of new capital formation. And not just that $100 billion global tech fund from SoftBank.

Why it matters: The last time we saw massive fundraising like this, the global economy had peaked. Investors just didn't know it yet.

Since the beginning of April, we've seen:

  • The largest global PE fund ever raised: SoftBank Vision Fund, $93 billion (total target $100 billion)
  • The largest Europe-based PE fund ever raised: CVC Capital Partners, €16 billion
  • The largest Asia-focused fund ever raised: KKR Asia III, $9.3 billion
  • The largest U.S.-based tech PE fund ever raised: Silver Lake V, $15 billion.

Moreover, The Blackstone Group is halfway toward the largest infrastructure fund ever raised ($40 billion target) and Apollo Global Management is raising the largest-ever U.S.-based buyout fund ($23.5 billion target). There also was an SEC filing today that showed Sequoia Capital had raised nearly $2 billion for a global growth equity fund, which is far more than the venerable Silicon Valley firm has ever before raised.

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Japan to close schools through late March to control coronavirus outbreak

A couple takes photos in front of the Olympic rings in Tokyo. Photo: Tomohiro Ohsumi/Getty Images

Japanese Prime Minister Shinzo Abe announced Thursday that the government will ask elementary, middle and high schools around the country to close until late March as an attempt to contain its novel coronavirus outbreak, AP reports.

Why it matters: The government's decision — impacting 12.8 million students across 34,847 schools — comes as concerns mount about the spread of the virus in Japan, which has 189 confirmed cases and hundreds more abroad the quarantined Diamond Princess cruise ship.

Go deeper: The latest coronavirus updates

What the coronavirus means for Trump's presidency

Photo Illustration: Eniola Odetunde/Axios. Photo: Chris Graythen/Getty Images

A poor response to the coronavirus could be politically devastating for President Trump, and so far his administration has given the strong impression that it’s still scrambling as the risk of a pandemic mounts.

Why it matters: There’s only so much any president can do to stop a virus from spreading, and for now the coronavirus is still very much under control within the U.S. But if the disease get worse in the months ahead, and if the administration seems to be caught off guard, that spells trouble for public confidence in Trump.

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Coronavirus updates: New global case numbers surpass China's

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus is now affecting every continent but Antarctica and the WHO said Wednesday the number of new cases reported outside China has exceeded those inside the country for the first time.

The big picture: COVID-19 has killed more than 2,800 people and infected over 82,000 others in some 50 countries and territories. As Denmark and Estonia reported their first cases Thursday, Scott Morrison, prime minister of Australia — which has 23 confirmed infections — told a news conference, "The risk of a global pandemic is very much upon us."

Go deeperArrowUpdated 4 hours ago - Health