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...US credit card lender by loans....
...There will also be an undisclosed amount of debt financing provided by a group of private lenders including Blackstone Credit, HPS Investment Partners and Blue Owl Capital....
...Last year, it acquired a footprint in credit investments by purchasing Iron Park....
...that the departures would “create a range of issues” for Barings and attaching a term sheet offering to buy the credit business....
...UBS has agreed to sell $8bn worth of loans to private capital group Apollo as part of a renegotiated deal to hive off a Credit Suisse business that securitised loans for assets such as yachts....
...The unbundling rules effectively kicked the broker research business while it was already down. It will struggle to get back on its feet....
...So I thought it was a good time to catch up with Armen Panossian, who will become Oaktree’s co-chief executive by March and currently heads up its performing-credit business....
...The deal’s ability to win over competition regulators may depend on which business they focus on....
...Google has a 10-year deal with derivatives exchange CME Group and invested $1bn in the Chicago-based business....
...Citadel Securities has bid about Rmb2bn ($280mn) for Credit Suisse’s Chinese securities business, as the market maker founded by billionaire Ken Griffin pushes ahead with expansion plans in China, people...
...One hit the container ship MSC Sky II on Monday, while the US warship USS Carney shot down another. It did not say what happened to the other two weapons....
...Capital One and Discovery are a far more logical fit. Still, buyers’ remorse often sets in when the credit card bill arrives....
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
...“Direct lenders made significant market share gains on the banks because the banks were undergoing periods of stress,” said Kipp deVeer, head of Ares’ credit business....
...It has expanded into areas such as invoice financing and credit cards, and acquired a business that connects customers with professional contractors....
...The Palmer Square Capital BDC is the first of a bunch of BDC IPOs in the pipeline, helped by the ravenous demand for non-bank “private credit” that Alphaville has discussed ad nauseam....
...These credit losses could create significant capital losses for some end investors....
...“It’s a different time, and different business. The focus is not ‘bigger is better’, it’s on performance.”...
...UBS put the business up for sale after taking control of Credit Suisse when it collapsed last year. It already has a securities unit in mainland China and cannot hold two licences....
...Asset managers should be able to pay for their investment research alongside fees for trading, the UK market regulator has proposed, reversing a long-standing policy in an effort to energise the UK’s capital...
...The UK government has announced, and is implementing, its so-called Solvency II reform of capital rules leading to a new British regime Solvency UK....
...How peculiar is it to measure success in business by selling the business, not by benefiting from the success of the business? You actually have to part with an asset....
...Blue Owl already has a large credit business, but it largely focuses on debt for large technology leveraged buyouts....
...Edward Finley of Arrow Wealth Advisory LLC pointed out that from a certain point of view, the question “does private credit, as an asset class, generate excess return” is a sort of category mistake: An...
...In 2021, he hired three former Goldman partners — Paul Russo, Scott Rofey and Jeffrey Verschleiser — to lead the risk management of the firm’s equity, macro and rates, and credit divisions respectively....
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