However, intermediate forms exist that are difficult to classify, such as private equity and merchant bank funds, which operate based on targeted business strategies, acquiring controlling interests in companies belonging to selected sectors and directly intervening in their management.
Goldman's private equity and merchant banking businesses are large and lucrative, and hold a sizable portion of the personal wealth of senior Goldman executives, including Chief Executive Lloyd Blankfein, one of the sources said.
We excluded interests acquired in industrial firms by investment funds, private equity funds, and merchant banks as part of management buy-outs and when there was no direct participation in the management of the investee company.
The Retail and Business Banking segment includes as its principal business lines, business lending, consumer and business deposit gathering activities, consumer lending (including residential mortgage and home equity lending), and merchant services.
The strictures do not apply to debt analysts nor do they address the firm's shareholdings, say through a private equity fund or a merchant banking operation.
Other bidders for the division are thought to include private equity firms Texas Pacific Group and DLJ Merchant banking, which have tabled a joint bid for Emap's consumer arm and its radio division.
It already has $145 billion of assets under management in its alternative investment funds, and $70 billion of committed equity capital in its merchant-banking arm.Being one of the world's biggest private-equity funds, as well as one of the biggest advisers to them, could cause serious conflicts of interests.
Unless displaced by the particular provisions of this Act, the principles of law and equity, including the law merchant and the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy, or other validating and invalidating cause shall supplement its provisions.
The other remaining bid is a joint offer from UK and US equity investors 3i and New York merchant bankers Veronis Suhler Stevenson.
Roby plans to concentrate on businesses DLJknows best: Leveraged finance, merchant banking and equity sales.
