Hints and tips:
...The pair had partnered in a multibillion-dollar unsolicited takeover attempt of annuity specialist American Equity Investment Life, which the latter fended off....
...Its new fund — known as Strategic Investment Partners V — plans to buy risky debt, including junior loans and convertible bonds, as well as preferred stock....
...There’s a private credit boom going on, and underworked, bonus-anxious investment bankers and their asset management colleagues are ON IT....
...“That is the private investment-grade market,” he said. About 75 per cent of Apollo’s assets under management are in private credit....
...The venture, Lingotto Investment Management, will be chaired by former UK chancellor and Robey Warshaw banker George Osborne. Full details here....
...Rightly or wrongly, American authorities have clearly decided they don’t like many of the industry’s practices....
...The new company, later named Apollo Global Management, after the sun god, was led by Black and five other former Drexel executives....
...Short-term loans made through the iPhone maker’s new Apple Pay Later service will be made through a wholly owned subsidiary, Apple Financing LLC....
...It mostly contains investments made by Alameda Research and its subsidiaries, along with some FTX investments....
...Morgan Stanley has hired Luigi Rizzo as vice-chair of investment banking for Emea....
...In 2009, an Iowa-based insurer called American Equity Investment Life (AEL) was looking to hive off some of its annuity policies....
...Greensill made part of the loan through its German banking subsidiary, whose management is now under criminal investigation, and packaged some of it up into bond-like investments sold to clients of Credit...
...The firm was optimistic that, even in an age of digital streaming, Americans would still frequent movie theatres....
...Nicholas Basso has joined Peak Rock Capital as a managing director, focused on credit investments. He previously worked at Oaktree Capital Management....
...More than 10 years after a banking bailout that angered taxpayers and curtailed lending, the “alternative” investment industry is no longer a niche outgrowth of the mergers and acquisitions business....
...DD talks a lot about how private equity firms have supplanted investment banks in their once bread and butter business of lending to corporate America....
...“It’s pretty extraordinary that with this amount of distress you haven’t seen more failures in asset management companies.”...
...The company’s leadership is already a trifecta of Americans — Schwimmer, chief financial officer David Warren and chairman Don Robert....
...The group also wants Mr Siddiqui to be banned from competing with Athene to buy an unnamed insurance company, which people close to the situation have identified as American Equity Investment Life....
...However, company management has opposed the idea, saying it does not have the “requisite knowledge and expertise” to develop the technology....
...The industry has grown rapidly in recent years, building storefront networks bigger than McDonald’s, as Americans have struggled to bridge gaps between income and expenses....
...“Aggressive lending practices by the GSEs this cycle have been an important factor in the degree of over-investment and over-valuation of multi-family properties in certain key markets,” says Michael Shaoul...
...A 2009 Supreme Court case involving prescription drug labels, Wyeth v Levine, greenlighted state laws that are stricter than federal laws....
...China restored calm only with a big stimulus programme to aid lending Unwinding QE?...
...Since his departure from Barclays, the American banker has kept a relatively low profile....
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