Hints and tips:
Related Special Reports
...Last month UBS agreed to sell an additional $8bn of loans to Atlas SP as part of a renegotiation of the deal that also scrapped an associated investment management arrangement....
...The combination of the two banks’ holding companies will mean the Credit Suisse management board will become obsolete, including the role of chief executive....
...In 2021, he hired three former Goldman partners — Paul Russo, Scott Rofey and Jeffrey Verschleiser — to lead the risk management of the firm’s equity, macro and rates, and credit divisions respectively....
...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...Retired US partners of Grant Thornton have stepped up their fight for a bigger share of the proceeds from the sale of the accounting firm, hiring lawyers to challenge management over the terms of the deal...
...Institutional Shareholder Services, another high-profile shareholder adviser, is recommending shareholders vote in favour of Abrdn’s proposals at its meeting....
...of Discover’s Pulse electronic payments network....
...Grant Thornton’s retired US partners are demanding a greater share of the spoils from its sale of a majority stake to private equity, after accusing the accounting firm’s management of short-changing them...
...business Corinthia Global Management....
...Per Bloomberg: Apollo Global Management Inc bet on the longevity of senior citizens by acquiring illegal life insurance policies and funneling the payouts through shell entities, according to a new lawsuit...
...Private market assets under management have grown nearly 20 per cent a year since 2018 and reached $13.1tn as of last June....
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
...Last year, Apollo acquired the structured products unit of Credit Suisse shortly before the bank’s merger with UBS, taking ownership of one of the largest originators of high-rated asset backed securities...
...DWS said that despite changes to the definitions of net flows and assets under management in its financial reports, its internal definitions had “been consistent since prior to the initial public offering...
...The IMF estimates the size of the global private credit industry at more than $2tn, most of which is in the US, rivalling the high-yield and leveraged-loan markets....
...Millennium, which was founded in 1989 by Izzy Englander, has grown to become one of the most prominent multi-manager hedge funds in the world, with about $63bn in assets under management and average returns...
...But for those in Miami for JPMorgan Chase’s annual credit conference this week, nothing was more enticing than a panel discussion on liability management exercises....
...The classic principal and agent relationship — where an investor outsources management of their assets to an outside party — is rife with potential conflicts of interest....
...Jane Street is suing Millennium Management and two former employees for allegedly stealing trade secrets in a rare public spat between two big Wall Street investment firms....
...Capital One’s $35.3bn proposed takeover of Discover Financial Services would fuse two leading credit card lenders and give it control of a network that connects consumers, merchants and banks....
...There’s a private credit boom going on, and underworked, bonus-anxious investment bankers and their asset management colleagues are ON IT....
...Still, though, the bank’s new credit rating, two notches below investment-grade, includes the likes of AT&T and Walgreens. It isn’t yet obvious this is a bank failure waiting to happen. Disagree?...
...This performance cemented their dominance over the rest of the industry — the 20 hedge funds that have performed best since their inception manage 19 per cent of assets but they made around a third of annual...
...Multi-manager hedge funds typically allocate capital across tens or hundreds of trading teams that operate a variety of different strategies, and are overseen by a centralised risk management system designed...
...That included loans associated with some marquee buyouts including Elliott Management’s takeover of technology business Citrix, Elon Musk’s purchase of social media company Twitter and Apollo’s acquisition...
International Edition