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...Other investment outfits inside Brookfield’s credit group include European credit manager LCM Partners, a stake in music royalty group Primary Wave, and a technology-focused lender called Pinegrove, in which...
...Another 50 cents is collected by the merchant acquirer, or companies such as Block or Stripe that provide the shop’s point-of-sale service system....
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...Many banks, she reckons “are unable to uniquely identify and systematically aggregate or measure their combined credit and counterparty risk exposures to the private equity sector”....
...Of Tesla’s total quarterly sales of $21.3bn, 82 per cent were indeed “automotive revenues” while the rest were energy and services....
...By September 2023, Weightman began assembling a private credit team, said Corinthia....
...Full-service banks such as JPMorgan are built for scale — ie getting as many deals through the door as possible — so there’s only so much impact any one individual can make. That’s intentional....
...Several of the bank’s businesses — including credit cards and corporate transaction services — did better than expected in a quarter that many thought would be marred by the upheaval of the restructuring...
...“As a concept, credit-backed gilt repo is really exactly the same as having credit-backed swaps,” said Simeon Willis, chief investment officer at consultancy XPS Pensions....
...DBRS’s report also contains this wonderful description of Sotheby’s Financial Services’ collection strategy if any deadbeat art collectors fall behind on their payments: SFS employs a strategy for collections...
...And there are few hotter fads in finance today than private credit. What artificial intelligence is to tech, private credit is to Wall Street....
...Before the recent rise in interest rates, this mostly involved gawking at the erosion of lender protections in bond contracts and having fun with credit default swaps....
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...In July 2021, the SEC fined UBS Financial Services, now owned by Credit Suisse, $8mn for holding short-term, volatility-linked ETPs for customers longer than designed....
...Bond yields have “come down enough from their peak that we see demand [from companies and households] for credit going forward”....
...“A very strong labour market means, all else equal, strong consumer credit,” Barnum said....
...In 2008, Blackstone acquired GSO Capital, a credit manager with $10bn in assets managed. Today, Blackstone has $300bn in credit assets, even as most of the original GSO brass have long departed....
...From Bloomberg overnight: Citi Is in Talks to Start New Private Credit Strategy by Early 2024 Citigroup Inc. is in discussions to start a new direct-lending strategy by early January, the latest in a series...
...“There are things you can do to generate improvements in operational efficiency and customer service and, obviously, revenues.”...
...And don’t miss Antoine and Brooke’s profile of Ogunlesi, who rose to head investment banking at Credit Suisse before founding GIP in 2006....
...You, a rube like Alphaville, may have noticed the looming economic downturn and think it’s a bad time to be lending to fast-growing but asset-lite Vapourware Inc owned by investment firms FaceRip Street...
...“CVR Energy is a cash cow,” said Nick Moglia, a credit analyst with CreditSights....
...Capital for the loans would come from overseas credit funds and local banks, Arora said....
...Chang’s and business technology provider Computer Services Inc....
...Interchange fees are levied by Visa and Mastercard on behalf of lenders for debit or credit card payments carried out through their network....
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