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...The infrastructure operation will join a growing stable of investment capabilities inside General Atlantic. Last year, it acquired a footprint in credit investments by purchasing Iron Park....
...The firm says it owns, finances or leases more than 200 aircraft, and counts Delta, Avianca and Qatar Airways as lessees....
...Greensill’s supply chain financing loans to Gupta-linked and other companies were packaged into securities sold to Credit Suisse investors through a group of $10bn supply chain finance funds....
...A-Cap owns five insurers: Sentinel Security Life, Haymarket Insurance and Jazz Reinsurance in Utah, as well as Atlantic Coast Life Insurance and Southern Atlantic Re in South Carolina....
...But it is department stores, rather than lenders, that may have most to lose as the credit cycle sours. The biggest of these — Macy’s, Nordstrom and Kohl’s — do not own their credit card portfolios....
...They can also charge different prices to consumers based on which credit card they use. Credit card holders accustomed to fancy perks are in for a rude awakening....
...I am British, my wife is American and we each have permanent residency status on both sides of the Atlantic. Our two children are dual citizens....
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...TPG, which went public in 2022, recently used its stock to help finance the $2.7bn purchase of credit manager Angelo Gordon....
...The move by Fitch, which maintained the country’s A plus credit rating, follows a similar outlook downgrade from rival Moody’s Ratings in December....
...It bought personal finance company Credit Karma for $8.1bn in 2020 and email marketing provider MailChimp for $12bn in 2021. But it is Intuit’s talk of AI that is bringing out the Wall Street bulls....
...Actis executives, who have expanded the business since spinning out of the UK government’s development finance unit in 2004, are likely to net a big windfall by selling their firm....
...Barings said that in early March more than a dozen employees resigned for Corinthia, alongside global private finance co-heads Fowler and Adam Wheeler....
...ByteDance’s US investors include the likes of private equity firm General Atlantic as well as Susquehanna International Group and Sequoia Capital....
...“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....
...What now for the ‘golden age’ of private credit? It was a boom year for private credit....
...That trend holds more broadly, reports Bloomberg: Blackstone Inc. recently sought a $250 million loan at a rate of around 4.75 percentage points over the US benchmark to finance its planned purchase of...
...In today’s newsletter: Finma’s Credit Suisse postmortem Hipgnosis delays its results Microsoft and OpenAI in the spotlight Finma caps off a wild year in Swiss finance It’s been an eventful year for...
...At an investor event last year, First Solar’s finance chief noted its Section 45x credit counterparty — the US government — was the most reliable enterprise in the world....
...Would-be dealmakers are facing a tougher ride from regulators on both sides of the Atlantic....
...And there are few hotter fads in finance today than private credit. What artificial intelligence is to tech, private credit is to Wall Street....
...group, such as Apollo’s Athene or KKR’s Global Atlantic....
...In today’s newsletter: Blackstone’s private credit problem General Atlantic’s secondaries push Mallinckrodt’s messy bankruptcy The private credit deal that could cost Blackstone €200mn Last month, Blackstone...
...Few other large deals to finance. “There have been fewer LBOs and therefore less new loan volume,” said Michael Patterson, a governing partner at asset manager HPS Investment Partners....
...New York Community Bank will raise more than $1bn in a deal led by the investment firm of former US Treasury secretary Steven Mnuchin, in an effort to shore up its finances and calm fears after weeks of...
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