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...Apollo has sold a stake in the lending business it acquired from Credit Suisse last year shortly before the Swiss bank’s shotgun rescue by UBS, securing a multibillion-dollar investment from one of the US...
...So far, its lending has funded 1,800 homes. It has financed projects including 316 rental homes in Bath and a joint loan with insurance group Generali for 65 homes for sale in Canary Wharf....
...It has increased its lending to private equity firms, helping finance their leveraged buyouts, as it has sought to take advantage of rising volatility on Wall Street....
...The New York-based investment group’s lending ambition is being fuelled by an influx of insurance-related policies it must invest....
...“It’s not obvious that they should do it through the traditional channels of investment grade public debt or equity.”...
...Chinese equities edged lower on Monday after the People’s Bank of China announced it would keep an important lending rate unchanged....
...Peter Onguka Head of Lending — Africa, Root Capital Nairobi, Kenya...
...Citi and Wells Fargo also recorded drops in lending. The pullback in lending hit JPMorgan Chase particularly hard....
...grade, that is, direct lending....
...Hayfin was founded in 2009 by two former Goldman Sachs bankers, with backing from private equity firm TowerBrook Capital Partners....
...Equities in Hong Kong and China fell on Tuesday despite the country’s central bank announcing a reduction to the lending rate for mortgages on the mainland....
...In the US the benchmark S&P 500 gauge added 1 per cent on Monday, while the technology-heavy Nasdaq Composite rose 1.2 per cent....
...The country’s benchmark Kospi index climbed 2.1 per cent, with Samsung Electronics and SK Hynix up 4.4 per cent and 3.7 per cent respectively....
...Chinese equities led losses in Asia on Monday after the country’s central bank published data indicating weaker than expected credit demand....
...For big investors — and at $1.6tn, Norway’s oil fund certainly counts — private markets are simply becoming too big to ignore....
...This type of lending is considered the lowest risk, as it must be repaid first, before other debts....
...The value of this lending was £4.1bn, down 42 per cent. Mortgages for house purchases, or remortgages, were down 21 per cent, while new lifetime, or equity release, mortgages were down 40 per cent....
...Equities in Hong Kong rose on Thursday morning as traders awaited Chinese trade data. The Hang Seng index added 0.5 per cent while the Hang Seng Tech index rose 1.3 per cent....
...South Korean equities edged up on Monday morning while the country’s currency sold off....
...Hong Kong’s Hang Seng index gained 1.2 per cent with computer maker Lenovo leading gains with 8.1 per cent....
...Data shows that this direct lending market now has $800bn of assets under management, compared to about $1.4tn of syndicated loans outstanding....
...Wall Street’s S&P 500 and the tech-dominated Nasdaq Composite both added less than 0.1 per cent shortly after the opening bell in New York....
...Equities in the rest of Asia were more muted, with the Topix shedding 1.2 per cent amid continuing volatility in the Japanese currency....
...Barclays has agreed to sell approximately $1.1bn worth of credit card debt to private equity firm Blackstone, as the British bank steps up efforts to move assets off its balance sheet in advance of more...
...Chinese equities were little moved after authorities stepped up efforts to limit short selling in a bid to halt an extended market rout....
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