Hints and tips:
...But some smaller investment managers don’t have sophisticated risk-management processes, and their incentives are just to grow and deploy capital. But is that a systemic risk? I’d say probably not....
...More than half of single-B minus rated US companies would not be generating enough cash to cover their capital expenditure while servicing their debt by year-end, analysts at Moody’s project....
...For instance, here’s an extract from a filing by Manhattan Bridge Capital, a small Nasdaq-listed mortgage Reit: No Adverse Material Change....
...Class B and D stock, which is nearly all owned by Refinitiv and its affiliates, receives 10 votes per share....
...S&P has rated the bonds single-B minus, among the riskiest ratings it assigns....
...Morgan Stanley led a $1bn credit facility for Blackstone’s $4.6bn acquisition of Cvent, which is majority owned by Vista Equity Partners....
...Who billionaire’d it better?...
...“We’re worried about deteriorating macro conditions, and that’s traditionally not the time when investors deploy a lot of capital into the single-B [corporate debt rating] risk.”...
...When banks were racing to lend to companies and private equity firms at the start of the year, a US business with a lowly single B debt rating could expect an interest rate of roughly 4.74 per cent....
...They include Warburg Pincus, Bain Capital, General Atlantic and Vista Equity Partners....
...The company, Plan D LLC, owned a Gulfstream jet. In court papers reviewed by the FT, the US Virgin Islands government cites flight logs showing that the plane transported underage girls....
...Monaco is ever exploring ways to manage its mountainous terrain; tunnels, public lifts and pavement escalators are all part of getting from A to B....
...Because both entities are deeply involved in this “space” and now need to a) feel better about themselves and b) guard against people going off crypto on the grounds that it is actually a Very Bad Thing....
...We’d love to hear your feedback on DD as we keep thinking of ways to expand this community. Drop us a line: Due.Diligence@ft.com. Thanks for reading!...
...He says that for 15 years, half of the carried interest he was entitled to from Vista’s premiere fund was filtered through a Nevis LLC called Flash Holdings, owned via bearer shares by a Belize foundation...
...Mba has chosen to open her ADA \ contemporary art gallery in the capital’s Villaggio Vista, an area she describes as a “lively luxury estate complex with lots of popular restaurants and bars”....
...the AGP in 2012; Mr Balapanov’s lawyers have said that: a) he is not, and never has been, a nominee of Mr Kulibayev b) he has no knowledge of, nor involvement in, the scheme described in this article,...
...London Stock Exchange has hired Murray Roos as group director for capital markets and a member of its executive committee....
...I think that B assets are getting priced like A assets and A assets are getting priced like A+ assets,” he says....
...In the case of the single B sector, the absence of EM&M entails a tightening of 50bp since triple C and single B traded at their narrowest spread in late-April....
...Since then I’ve paid Iceland a further 50-odd visits, and watched those epic, barren vistas become progressively less lonely....
...It could either be a) CITIC Capital's January purchase of French beauty business Axilone b) Oaktree's sale of serviced apartment company SACO to Brookfield Asset Management for £430m in February or c) buyout...
...a person with knowledge of Vista’s strategy....
...I’d like to see how much is stuck.”...
..., “We are a few miles away from Milan — arguably the global capital of design!”...
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