Hints and tips:
...“It’s still premature but I’m hopeful it could come together in the next few days,” said one of the people involved in the discussions....
...On regional banks, I don’t think they’re back in the market lending right now. Instead, they are winding down their books a little bit....
...“I thought it was better to talk to people directly than through headhunters,” he said. “I’m a front door sorta guy. I think it was effective and I’d do it again.”...
...I can report that Los Angeles in January is a lot more pleasant than New York in January, and that the best song to blast out of your rental car window on Rodeo Drive is the Decemberists’ “Los Angeles, I...
...Blackstone Mortgage Trust said in an emailed statement: “This report is highly misleading and represents a fundamental misunderstanding of our senior secured lending business.”...
...I can tell you from first-hand experience that (especially at the small-cap end) they take their pound of flesh, but there’s plenty left over for investors....
...They’re talking about a very small sliver of a private credit universe that’s focused on levered lending. Don’t get me wrong, we like the levered lending business....
...Forlano then allegedly sent a text message saying: “next one i got you’ll be the first to know”....
...“It was so painful, one day I woke up and I said, ‘If I go into the office for one more day I am going to die’,” Beckerman added....
...“We are in the beginning of a secular shift in how credit is provided to businesses and a shift that I believe will continue to gather speed,” Rowan said....
...“I think we are past the worst in an economic sense . . . but we still have remaining uncertainty in terms of the anti-corruption drive.”...
...He characterised the lending as “highly complementary” to the banking system because it is coming from sources of long-term capital, versus a more leveraged bank balance sheet....
...The move will combine the world’s first Bitcoin and crypto securities business with the first crypto lending platform....
...“And finally,” Rowan continued, “I hold more equity capital as a percentage of assets than you do....
...At this higher cost of funds, how do I make my next loan? Mortgage issuance is going to be down when you double rates. Same thing with auto lending....
...“The lending is on absorption costs above the expense ratio, so it’s not like they took the money out of the funds as a loan,” said one individual with some knowledge of the situation....
...“I have to look at it from an arm’s length distance to be comfortable....
...But he does think investors such as Apollo could be a better home for its lending activities. Blackstone, KKR, Ares Management and Carlyle Group are also examining SVB’s loans portfolios....
...I asked the PM’s office this week why new legislation was necessary, given such a strong defence of his country’s laws. I didn’t receive a response....
...“I’ve gotten to know that world a little bit more, and some of the business practices don’t rise to the level of ethics that we’re all used to in private equity with your investors and your customers and...
...The ties stretch far beyond lending....
...“If as a general partnership I want capital for any reason, there are lots of options besides needing to go public,” said Saul D Goodman, head of alternative asset management banking at Evercore....
...Robinhood is experimenting with new features like stock lending, a promising sign it is trying to innovate. But a return to former glory will be very hard indeed....
...But from the start, Bankman-Fried improperly diverted customer assets to his privately-held crypto hedge fund, Alameda Research LLC (“Alameda”), and then used those customer funds to make undisclosed venture...
...His concern now is that rather than allowing the market to determine lending conditions, the Fed will continue to lift interest rates, pushing the US economy into recession....
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