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...The two firms held discussions in early 2020 after Schonfeld suffered a 16 per cent loss during the coronavirus-induced market rout and was asked to put up more collateral by its prime brokers....
...“Innocent seafarers should never become collateral victims.” Additional reporting by Felicia Schwartz in Washington...
...“If you buy Turkish sovereign and corporate bonds, you probably get no collateral,” he said, adding that yields were roughly 8 per cent....
...Instead of an annual management fee, the manager passes on all costs to their end investors....
...But that is modest relative to the $8.4bn in cash that sits on Blackstone’s balance sheet and its more than $6bn in annual management fees....
...Their collateral — ie mostly cash US Treasuries — would get liquidated....
...A firm will typically pledge all of its shares to a bank as collateral for a loan that usually amounts to 20 per cent of the total shareholding....
...The New York-based firm’s flagship hedge fund was down about 16 per cent and its prime brokers were asking it to put up more collateral, according to three people with direct knowledge of the matter....
...Pension funds became forced sellers of assets to meet these collateral calls....
...In the case of Northstar, SoftBank relies solely on a guarantee from Masa and his Son Assets Management entity, with no additional collateral....
...Asked about whether Iervolino had used his Tatatu stake as collateral for personal loans, we were told this was “not an information that is available from company’s management.”...
...All the while, he continued to make misleading statements to investors about FTX’s financial condition and risk management....
...Then in September, Credit Suisse chief Gottstein also started a broader appraisal of the lender’s overall asset management strategy and has already closed some funds and laid off staff....
...Jeff Sabin and Andrew Curry, lawyers with Venable LLP, signed into the hearing in person representing a firm called Digital Augean, LLC....
...A sharp correction could activate a NAV trigger permitting prime brokers to require additional collateral which could force selling of liquid HF positions....
...The asset was a crucial piece of collateral in a planned deal with Evergrande’s international bondholders, according to sources....
...Similarly, we have immediate risks in areas of credit — for example, the loss of cash collateral....
...Stonks’ increased values are used for collateral for loans to buy more stonks....
...of trapped collateral from the alternative providers tied up at the mercy of Florida courts....
...Its unusually high number of large freehold sites make it an attractive target for private equity because such assets can be used as loan collateral or sold and leased back....
...Smart reads Fool’s gold Over the past five years, creditors have loaned close to $3bn to Wuhan Kingold Jewelry with pure gold acting as collateral. Or so they thought....
...Siris Capital, has been accused by existing lenders of “asset stripping” after it secured $500m in debt financing from its two owners to ease a liquidity crunch, in a deal that moved intellectual property collateral...
...With the houses as collateral, it has €30m at risk if Wirecard’s shares become worthless. Go deeper here with the FT’s Olaf Storbeck....
...Here goes: if Asda bears no previous debt, and Walmart keeps a 40 per cent stake, TDR could buy 30 per cent, leaving the Issa brothers to find £1bn each — possibly using their EG shares as collateral....
...Banks providing financing for leveraged deals usually insist that the buyer has full access to the target’s cash flows and uses some of the company’s assets as collateral....
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