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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 ripples from the banking crisis in the US last year and the collapse of Credit Suisse....
...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....
...Many banks, she reckons “are unable to uniquely identify and systematically aggregate or measure their combined credit and counterparty risk exposures to the private equity sector”....
...Drew Dickson is the founder and chief investment officer of Albert Bridge Capital. He is short Tesla in his personal account....
...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....
...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...
...Some insurance and pension companies have significantly expanded their investments in private credit and other illiquid investments....
...Stephen Nesbitt, the CEO of Cliffwater, an investment adviser specialising in private markets, has rejected the EFW argument in a brief written response....
...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....
...Likewise, the technology can offer personalised financial advice to Credit Karma users and help generate marketing content for customers at MailChimp....
...Does that make it a good candidate for investment? Legendary investor Peter Lynch thought so....
...“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....
...Private credit’s “golden age” might’ve not lasted very long*....
...Billionaire Michael Dell’s investment vehicle has agreed to back two former senior Goldman Sachs executives who are launching a private credit investment firm....
...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....
...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...
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...(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....
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