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...Other investment outfits inside Brookfield’s credit group include European credit manager LCM Partners, a stake in music royalty group Primary Wave, and a technology-focused lender called Pinegrove, in which...
...the proposed ArtFi deal a pristine AAA credit rating....
...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....
...Does that make it a good candidate for investment? Legendary investor Peter Lynch thought so....
...It is still dealing with multiple economic challenges such as a prolonged property crisis, high local government debt and falling direct foreign investment....
...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....
...One scoop to start: Apollo has sold a stake in the lending business it acquired from Credit Suisse last year shortly before the Swiss bank’s shotgun rescue by UBS, securing a multibillion-dollar investment...
...This article has been updated to clarify that Barings is pausing new investments in some, rather than all, of its private credit funds....
...Banks strike back against private credit The past year and a half has not been kind to investment banks’ syndicated loan departments....
...Stephen Nesbitt, the CEO of Cliffwater, an investment adviser specialising in private markets, has rejected the EFW argument in a brief written response....
...The 1973-74 inflation and interest rate shock created more profound disintermediation from banks than the rise of private credit today, as investment grade companies switched to borrowing from the market...
...Goldman Sachs’ asset management arm has bought a stake in private credit specialist Kennedy Lewis Investment Management, as it looks to expand its reach in a fast-growing corner of markets....
...Some insurance and pension companies have significantly expanded their investments in private credit and other illiquid investments....
...“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....
...Likewise, the technology can offer personalised financial advice to Credit Karma users and help generate marketing content for customers at MailChimp....
...Private credit’s “golden age” might’ve not lasted very long*....
...In today’s newsletter: Jane Fraser’s bold hire at Citigroup Private credits hunt for yield Sequoia’s clean-up job Citi bets on one of JPMorgan’s top bankers Investment bankers at JPMorgan Chase sometimes...
...Billionaire Michael Dell’s investment vehicle has agreed to back two former senior Goldman Sachs executives who are launching a private credit investment firm....
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...The Delaware court this year invalidated such a practice at the investment bank Moelis & Co, which had given its founder veto power over nearly all of the standard work conducted by a board of directors....
...(Ethan Wu) Replies on private credit excess returns Yesterday’s piece about excess returns in private credit drew a lot of meaty responses from readers, from all sides of the debate....
...Kuvare, on the other hand, targets investment grade instruments in private markets or securitised bonds....
...Christian Meissner, the former head Credit Suisse investment banker who is now at boutique advisory firm BDT & MSD Partners, said Raghavan was “clearly a formidable competitor, a super intense guy and that...
...Private credit deals, in addition to generating interest income, also charge management fees to limited partners....
...Private credit is booming, nearing $2tn in assets globally. Most of that debt is being traded out of the public eye, a fact highlighted in the latest Global Financial Stability report from the IMF....
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