Hints and tips:
...Rivals to HPS, including credit specialist Oaktree Capital, are raising billions of dollars for new private credit funds....
...It has expanded into areas such as invoice financing and credit cards, and acquired a business that connects customers with professional contractors....
...Leave your credit card in your wallet, don’t go near an ATM, and come armed with US dollars in cash that you can change into pesos on the ground. Not just any dollars, crisp $100 dollar bills....
...Early on, Apollo paid cents on the dollar for bonds Drexel clients had purchased at full price....
...And the bonds Apollo bought now trade below 50 cents on the dollar....
...Some of its largest bets included Brex, the corporate credit card start-up, ShareChat, the Indian social media company, and Getir, the Turkish instant grocery delivery app....
...to the end of the company life of SVF2 LLC....
...Blackstone acquired debt manager GSO in 2008, seeding its expansion into credit and insurance-based investments, which now comprise 28 per cent of the group’s $940bn in assets....
...“Card schemes already enable credit cards issued in one market to be used with merchants located in another market,” while fintechs, governments and central banks are also pursuing cross-border networks,...
...The largest listed private equity firms have used the past decade to become diversified asset managers that control hundreds of billions of dollars....
...A top executive at a multitrillion-dollar asset manager says: “She tells a whole story that’s almost impervious to facts.”...
...cent of its value in a single day....
...The price of that unease may run into billions of dollars....
...The deal catapults MS’s investment management house into the trillion-dollar club....
...Banks have also taken charges for tens of billions of dollars of likely Covid-19 related credit losses. While actual loan write-offs remain low for now, there are some ominous signs....
...Payment holidays on credit cards, mortgages and rents are also masking the current stress on loan books....
...Banks appear to have passed the first test: a short but pronounced period of market mayhem and a co-ordinated drawdown of hundreds of billions of dollars of credit by corporations feeling the strain....
...This is Cambridge’s fastest-growing segment and also the most lucrative, accounting for about 9 per cent of assets ($37bn) but approximately 20 per cent of revenues....
...Causeway Capital Management LLC, the LA hedge fund, has declared 4.88 per cent of Micro Focus....
...Cineworld (down 86 per cent). Carnival (down 77 per cent). Tui (down 70 per cent). IAG (down 63 per cent). Whitbread (down 52 per cent). There’s no future in going places and doing things....
...They hold N shares, but Naspers also has an A class. These grant 1,000 votes per share, many times more than even the famous Facebook class B shares....
...As Rabobank points out, Italy’s report card is likely to be mixed. S&P had pencilled in real gross domestic product growth of 1.1 per cent for the year, below forecasts....
...Yes, the numbers are bigger, but the shock, while not a V is shorter and sharper than that crash, and the pre-crisis fiscal situation was strong....
...To Mr Cohen’s credit, YouTube has successfully brokered fresh licensing agreements with two of the big three record labels since he took over....
...About $1tn of China’s reserves evaporated in 2015-16, and by the end of 2016 the renminbi had slipped by over 12 per cent to an eight-year low versus the dollar. Yet China held the line....
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