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...Citadel Securities and Citadel, the hedge fund owned by Griffin, have also been expanding elsewhere in Asia, opening offices in Tokyo last year....
...But the direct lending funds they manage may begin to post lower returns, investors said....
...Banks underwriting $3.7bn of loans and bonds to fund the buyout of healthcare company Syneos Health by Elliott Management, Veritas Capital and Patient Square Capital, also received strong demand....
...Headlining the IPO filing is The Raine Group, a tech-focused boutique, whose listing as financial adviser gives it top billing above Wall Street banks including Goldman Sachs and JPMorgan, who are underwriting...
...The private capital machine is underwriting financings worth up to billions at a time for the likes of Air France, Hertz, AT&T, SoftBank, Anheuser-Busch and others....
...Saudi Arabia’s Public Investment Fund is helping to fund KKR and Global Infrastructure Partners’ agreement to buy a stake in Vodafone’s €15bn towers business....
...As bank lending has become more constrained, many European companies have turned to alternative sources to fund their operations....
...Smart reads Playing the field The concept of fund-of-hedge funds is appealing in theory: rounding up the finest hedge fund managers and combining them into a high-returning portfolio....
...Private debt funds claim high underwriting standards. Returns are driven by an illiquidity premium not higher credit risk, they say. Their institutional investor backers are convinced....
...As markets recovered, they shifted to originating new loans, underwriting midsized private equity takeovers that banks would not finance....
...Short-term loans made through the iPhone maker’s new Apple Pay Later service will be made through a wholly owned subsidiary, Apple Financing LLC....
...But the loans and bonds that the banks are underwriting are mostly sold on to a wide group of lenders, and so are priced based on the whims of the market....
...“[Social and sustainability] considerations should be part of any credit underwriting policies, and a failure to incorporate them could result in unwanted downgrades or even defaults if one were to take...
...The firm also added Kevin Freer and Andrew Isaac as vice-president and assistant vice-president of its underwriting division, respectively....
...(FT) Haunted by the past Lloyd’s of London, founded in 1686, has launched an internal investigation into whether it owes reparations for its underwriting of slaves and the cargo vessels that carried them...
...The elegance of leveraged loans for big banks is that — in normal circumstances — they are low-risk: the debt is syndicated to mutual funds, hedge funds and other investors....
...Prosecutors also alleged that Goldman’s underwriting and arranging fees of about $600m were “several times higher than the prevailing market rates and industry norms”....
...The recent insurance blow-up at General Electric and its former subsidiary Genworth illustrate the danger of poor underwriting. But do not expect the insurance push to abate....
...Smart Reads Selling shells by the Delaware shore The state that has more corporate entities registered than people is considering dropping anonymous LLCs....
...Funds controlled by Goldman Sachs commonly invest in the riskier “junior” debt of leveraged buyouts, a technique that has given the US bank more firepower in the competitive world of debt underwriting....
...High-yield bond funds have recorded outflows over the same period....
...A unit of Soros Fund Management would manage the loans, Prosper said. In exchange for the commitment to buy loans, the investor group will receive warrants to buy Prosper shares....
...“We manage all the aspects of the mortgage value chain — distribution, underwriting, servicing — the entire life cycle of such an asset,” says Cor Zwaan, director of investment products at CMIS....
...Regulators have been warning for a while of sloppy underwriting standards in the $1.14tn sector, where low interest rates, falling unemployment and low fuel prices have combined to drive demand....
...Chicago-based Argon Credit LLC co-founder and CEO Raviv Wolfe said in a bankruptcy court declaration that “liquidity issues” caused the company, which offers 12- to 60-month loans in amounts ranging from...
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