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...Goldman has earmarked its alternative assets business, which includes areas like private equity, private credit and infrastructure, as a priority for growth....
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...Pimco has appointed Giorgio Cocini as a managing director overseeing its business in Italy, France and Iberia....
...In recent years incumbents firms such as Citadel, Millennium and Balyasny Asset Management have moved to lock up investors’ capital for years, in part because a stable business is a draw for talent....
...This, together with the forced sale in Europe of failing Credit Suisse to rival UBS, prompted Agustín Carstens, head of the Bank for International Settlements, to declare that “business models were poor,...
...“At the moment it’s clear the motive is to become as profitable as possible,” says Mayer, who has spent many years exploring the purpose of business....
...Take, for example, pay-as-you-go solar power services for rural or low-income communities in developing countries....
...Make sure you check back tomorrow for the latest business news....
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...Those involved in the discussions say US regulators were mostly on the same page as their international peers....
...Robeco has become the latest active asset manager to develop an exchange traded fund platform, poaching Fidelity International’s ETFs head for its new business line....
...Like all good rebels, private capital managers are finding benefits from doing business with the establishment....
...Consequently, the cash flows from such assets are no longer as certain or sustainable as they used to be given the general lack of investment in such facilities....
...BDCs and private credit, part 2 We’ve been writing about business development corporations, the form of private credit investing with the longest public record....
...Doing so makes economic as well as moral sense....
...Crisis management firm Longacre Square Partners has appointed BlackRock’s Jessica McDougall as chair and Institutional Shareholder Services’ Heath Winter as vice-chair of its new corporate governance and...
...The lenders took the place of western banks, which came under acute pressure from regulators and politicians in their home countries to exit Russia, while international sanctions made doing business much...
...“It’s very difficult for a [small or medium-size business] to say, OK, I work in 27 different languages, 27 [systems of] business law, 27 taxation systems . . . you don’t have a legal office of 50 people...
...He moved to London to help set up a new branch of French bank Crédit Agricole’s asset management division. He settled in South Kensington, an enclave for well-to-do expatriates....
...In other words, there is no one doing the job of a commercial banker. There are two reasons why the stressed-credit function is not a large part of the direct lending done by asset management firms....
...As you can see from the fundraising bonanza, private credit has morphed from a cottage business mostly focused on distressed debt into a massive business over the past decade....
...“Then you cease to be able to function as a business.”...
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