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...“Every week for the last 18 months, bankers and consultants have been saying credit, credit, credit.” But Sinding is clear what he wants....
...In 2021, he hired three former Goldman partners — Paul Russo, Scott Rofey and Jeffrey Verschleiser — to lead the risk management of the firm’s equity, macro and rates, and credit divisions respectively....
...There will also be an undisclosed amount of debt financing provided by a group of private lenders including Blackstone Credit, HPS Investment Partners and Blue Owl Capital....
...Last year, it acquired a footprint in credit investments by purchasing Iron Park....
...The firm legally became a corporation at the beginning of last month, turning its 860 partners into employee-shareholders, although they continue to use the term “partner”....
...Alongside Warburg, a group of older private equity managers such as Clayton, Dubilier & Rice, CVC Capital Partners, TA Associates and GTCR have all recently closed large funds above their targets....
...A month later the New York-based firm said it had acquired private credit firm Iron Park, a business set up by Tripp Smith, a former Blackstone credit executive....
...“There have been fewer LBOs and therefore less new loan volume,” said Michael Patterson, a governing partner at asset manager HPS Investment Partners....
...Credit Suisse unit, as well as UBS and regulators....
...It has expanded into areas such as invoice financing and credit cards, and acquired a business that connects customers with professional contractors....
...“The receptivity to bank M&A of size has not been high in this administration,” said Brian Graham, partner at financial services advisory firm Klaros Group....
...Rents earned by the funds from making private direct loans accrue to the general partners, not the limited partners....
...But for those in Miami for JPMorgan Chase’s annual credit conference this week, nothing was more enticing than a panel discussion on liability management exercises....
...As big cloud computing vendors, Microsoft, Amazon and Google have also thrown in computing credits instead of cash in some cases....
...Ogunlesi and a handful of colleagues, mostly from Credit Suisse, considered private equity, then near the apex of a pre-financial-crisis takeover bubble....
...In September CVC Capital Partners paid €1bn for infrastructure fund manager DIF Capital Partners, which is of a similar size as Actis....
...Law firm Simpson Thacher & Bartlett has named 32 new partners.* Law firm White & Case has named 42 new partners....
...Argus subsequently grew by acquiring other companies and counts Platts, part of credit rating company S&P, among its competitors....
...Job moves Centerview has hired former Credit Suisse co-head of Emea financial institutions group Israel Fernández as a partner, Financial News reports....
...They join from Moelis and Sun European Partners, respectively....
...Guggenheim currently manages nearly $300bn and is considered one of the savviest credit market investors in the world....
...It is further seen in alarming credit trends metastasising on leveraged balance sheets....
...The four executives are Matt Nord and David Sambur, two senior partners who lead Apollo’s private equity business, as well as John Zito, deputy chief investment officer of credit, and Grant Kvalheim, president...
...The shape of our business, particularly our willingness to do very large investment-grade transactions, has made us an indispensable partner, and I do mean partner with the banking system....
...The transaction will see existing shareholders, including Swedish investment firm Valedo Partners, cash out....
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