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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...
...DBRS’s report also contains this wonderful description of Sotheby’s Financial Services’ collection strategy if any deadbeat art collectors fall behind on their payments: SFS employs a strategy for collections...
...Another 50 cents is collected by the merchant acquirer, or companies such as Block or Stripe that provide the shop’s point-of-sale service system....
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...The bond, which priced late on Wednesday, will fund plastics collection and recycling projects in Ghana and Indonesia and highlights the growth of exotic debt structures for environmental causes....
...By September 2023, Weightman began assembling a private credit team, said Corinthia....
...Full-service banks such as JPMorgan are built for scale — ie getting as many deals through the door as possible — so there’s only so much impact any one individual can make. That’s intentional....
...The company, which levered up when interest rates were low to buy non-performing loans, will get €0.7bn of cash, an equity stake in the new vehicle and a five-year contract to service the assets....
...Several of the bank’s businesses — including credit cards and corporate transaction services — did better than expected in a quarter that many thought would be marred by the upheaval of the restructuring...
...“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....
...To stop a blockbuster collection going to “the other place”, as Christie’s and Sotheby’s refer to each other, auction houses might charge sellers nothing at all, or even pass through a chunk of the buyer...
...Without it, investors can only look forward to a collection of binary bets (AI and energy storage stuff as well as the robot chauffeurs and butlers)....
...And there are few hotter fads in finance today than private credit. What artificial intelligence is to tech, private credit is to Wall Street....
...Before the recent rise in interest rates, this mostly involved gawking at the erosion of lender protections in bond contracts and having fun with credit default swaps....
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...In July 2021, the SEC fined UBS Financial Services, now owned by Credit Suisse, $8mn for holding short-term, volatility-linked ETPs for customers longer than designed....
...Bond yields have “come down enough from their peak that we see demand [from companies and households] for credit going forward”....
...“A very strong labour market means, all else equal, strong consumer credit,” Barnum said....
...Ensure that its service will achieve your objective....
...In 2008, Blackstone acquired GSO Capital, a credit manager with $10bn in assets managed. Today, Blackstone has $300bn in credit assets, even as most of the original GSO brass have long departed....
...Keating credits his teams in London and Yorkshire, where about 70 per cent of the library’s collection is held....
...Accolade, which has a near-A$600mn loan due in 2025 according to the company, has been struggling to service its debts....
...And they do own one service that might provide an answer, but it's complicated. As a seller, they've not done a single thing for me....
...From Bloomberg overnight: Citi Is in Talks to Start New Private Credit Strategy by Early 2024 Citigroup Inc. is in discussions to start a new direct-lending strategy by early January, the latest in a series...
...Its credit rating was downgraded by S&P Global last week....
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