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...Its wealth management business was again a powerhouse, attracting $27bn in net new assets as clients returned after pulling money from both UBS and Credit Suisse amid the turmoil triggered by the rescue....
...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 Indonesia, Danone collaborated with waste management company Reciki to establish five recycling facilities around the country that were owned and operated by the local partner....
...Castlelake would sit in Brookfield’s recently formed credit unit, which also houses a controlling interest in Oaktree Capital Management....
...Hayfin has more than €30bn in assets under management, across direct lending, special opportunities and high-yield credit....
...The most recent examples of risk management failures in financial institutions are the collapses of Silicon Valley Bank and Credit Suisse last year....
...US private credit assets under management were at $1.1tn as of September 2023....
...Meanwhile Boehly, whose investment house Eldridge Industries was the event’s main sponsor, was in final-stage negotiations to buy European private credit firm Hayfin Capital Management....
...Corporate credit may continue to be a winning sector if central banks keep up their habit of intervening whenever the credit cycle threatens to turn....
...business Corinthia Global Management....
...Goldman Sachs’ asset management arm has bought a stake in private credit specialist Kennedy Lewis Investment Management, as it looks to expand its reach in a fast-growing corner of markets....
...technology, media and real estate.Hayfin has more than €30bn in assets under management, across direct lending, special opportunities and high-yield credit....
...Apologies to Genesis 1:1–4, but this was the first thing that leapt to mind when FT Alphaville read an interesting report by Barclays credit strategists on the introduction of a consolidated tape for Europe...
...But another crucial change has been improved liquidity, thanks to a raft of new open-ended funds launched by large alternative investment managers like Blackstone, Ares Management, and Apollo Global Management...
...Private credit deals, in addition to generating interest income, also charge management fees to limited partners....
...Starting with an exploratory and futuristic prelude, the melody develops piece by piece to portray the genesis of a new crypto world, the furious storm on the journey ahead, and the determined marching of...
...Including our real estate debt business, it’s about $420bn of assets under management....
...Private credit could be the Ozempic to help banks on yet another diet....
...While new Fed proposals to increase bank capital (dubbed the “Basel endgame”) are being recalibrated, further adjustments to liquidity, capital rules and risk management practices are nonetheless likely....
...This structure helps circumvent US regulations when globally significant banks, such as Crédit Agricole, own fund management companies. One can see the attraction for Amundi....
...The former head of Credit Suisse’s wealth management business, Francesco de Ferrari, has become the latest executive of the fallen bank to leave UBS....
...Goldman Sachs’ Petershill Partners, which owns minority stakes in alternative asset companies, has bought a stake of more than 20 per cent in private credit specialist Kennedy Lewis Investment Management...
...Take Blue Owl Capital’s recent acquisition of Kuvare Asset Management for $750mn, which eventually could reach $1bn....
...Private credit has become fashionable in the asset management industry, with money managers piling into the area as higher interest rates damp the appeal of traditional private equity....
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