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...New York-based New Mountain, which manages about $50bn in assets, is known for preferring to buy privately held businesses in sectors it believes are insulated from swings in the economy....
...Abu Dhabi’s Mubadala agreed to buy a majority stake in Fortress, which manages about $46bn in assets and specialises in distressed debt investing, in May from Japan’s SoftBank Group....
...Its push comes as rising interest rates have bolstered yields of credit portfolios and raised hopes among distressed debt investors that a wave of bankruptcies could create opportunities....
...Vanguard chief executive Tim Buckley plans to retire from the asset manager by the end of the year....
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...Bankers and private equity executives ventured that Mobileum represented “mission creep” for HIG, a firm that is best known for buying inexpensive or distressed assets and then using leverage and operational...
...Altice’s bonds crashed to deeply distressed levels after Okhuijsen opened his mouth and a group of aggrieved bondholders have now formed a group to push for better terms....
...New NPL creation will put pressure on banks to shift older distressed assets off their balance sheets....
...Edward Finley of Arrow Wealth Advisory LLC pointed out that from a certain point of view, the question “does private credit, as an asset class, generate excess return” is a sort of category mistake: An...
...Smart reads FTX’s bankruptcy bonanza Distressed investor Attestor has made a large paper profit from buying up assets from clients of Sam Bankman-Fried....
...As such, it was a good time for Fortress employees to buy the firm, which specialises in distressed debt and other debt-based investment strategies and has $46bn in assets....
...British luxury brand Mulberry has named Boston Consulting Group alum Leslie Serrero as a non-executive director....
...AustralianSuper manages nearly $300bn in assets, and sources indicate that this minority investment into Vantage is meant to kick-start a broader involvement....
...But it has been frustrated that Klein and the consulting firms McKinsey, BCG and Teneo are not complying with subpoenas....
...Buyout group Permira took a majority stake last August in Reorg which valued the distressed debt and bankruptcy information provider at about $1.3bn....
...EY has hired crisis adviser David Gold to conduct a review of the failed attempt to split its audit and consulting businesses....
...Many have gone down the path of distressed debt exchanges, where a company offers to give its creditors new bonds or loans worth less than the outstanding ones in exchange for more seniority in the capital...
...assets in structurally challenged sectors and benefiting from any uptick....
...Several prominent distressed-debt investors have accumulated positions in SVB Financial Group’s securities....
...it assigns to its assets....
...The Colombian billionaire is pulling from a tried and true playbook used during four decades of dealmaking in Latin America: scooping up distressed banking assets on the cheap and turning them into acquisition...
...It signals the onset of tighter scrutiny of the accounting and consulting sector and rising uncertainty over the future of Deloitte, PwC, KPMG and EY in China....
...The Serta case had been closely followed on Wall Street as a series of distressed companies in recent years had raised fresh capital and refinanced debt in deals where lenders in the same class of debt competed...
...The transaction was the single largest sale of such distressed assets in India....
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