Financial Giants Shakeup: Pirelli Strips Sinochem, KKR's New Fund Ventures

The Financial Times highlights major financial maneuvers: Pirelli's board removes Sinochem's control amid governance disputes, while KKR and Capital Group pursue private market expansion with new funds. Meanwhile, UK ministers are pressuring pension funds to invest more in homegrown assets, potentially leading to new legislation.

Pirelli has made a bold move by stripping Chinese conglomerate Sinochem of control over the company, following disputes over governance practices. This shakeup involves its largest shareholder and marks a significant shift in the company's management dynamics.

In another notable development, financial giants KKR and Capital Group are launching a series of new funds targeting private loans, corporate buyouts, and infrastructure deals. This action demonstrates a growing trend of collaboration between traditional asset managers and private capital firms to tap into new investment opportunities.

Meanwhile, in the UK, ministers are putting pressure on pension funds to significantly increase their investments within the country's assets. This comes with threats of new legislation if voluntary commitments to UK investments are not met, highlighting government efforts to bolster domestic economic growth.

(With inputs from agencies.)