Multiple expansion is a lovely thing to put in a base case. Requires almost no involvement from the management team.
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Ares Capital's dividend has outrun its core earnings three quarters running.
Core EPS of $0.46 trails the $0.48 dividend for a third straight quarter. Income from controlled affiliates is carrying more of a smaller total.
Operating benches outhire deal teams as Insight Partners loses three
Seven operating hires beat six deal-team hires in a 25-move week. Insight Partners lost three senior people, and the head of private equity at a big state pension crossed to a GP.
OpenAI's $200 plan now buys less. Its new $500 plan buys speed.
The $200 ChatGPT Pro tier is back with a smaller allowance. The $500 tier's headline feature burns that allowance at eight times the normal rate.
