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...SJP said: “We have what we believe is the leading scheme in the marketplace for financial advisers to build and sell businesses, in turn leading to great client outcomes through long-term financial advice...
...Castlelake has taken advantage of recent market turmoil to expand its credit portfolio beyond aircraft leases, buying up billions of dollars of consumer instalment loans from fintech group Upstart....
...Tony Schumacher, chief meteorologist at the Great Lakes Weather Service, said the record high temperatures in the region at the end of 2023 were partly the result of the naturally occurring El Niño effect...
...The split also left Michael Dell owning 40 per cent of VMware, while Silver Lake owned 9.8 per cent....
...“[In] financial services, the record is particularly poor, as scaling typically requires hiring a lot of people, which erodes culture and can lead to excess risk taking,” he told analysts....
...Subprime giant Don Hankey, a subprime auto loan billionaire, is behind Donald Trump’s $175mn bond, the FT writes. Is the financial titan at risk of getting burnt?...
...“That’s one of the great debates that you can read about in the paper every day.”...
...Rwanda is known as Destination Great Apes; it has the chimpanzees in Nyungwe, and the gorillas in Volcanoes National Park....
...The administrator for Greensill’s German banking unit is pursuing payment through the court for insurance on soured loans....
...It was the smallest of Citi’s five divisions behind US personal banking, trading, services and wealth management....
...DBRS’s report also contains this wonderful description of Sotheby’s Financial Services’ collection strategy if any deadbeat art collectors fall behind on their payments: SFS employs a strategy for collections...
...“Even though we have made and we are making great films, we want to make them better,” said Ted Sarandos, co-chief executive. He added that he saw no need to spend more money on content....
...It concluded that, in becoming a party to the loans, LLC5 had a main purpose of obtaining a tax advantage....
...Although none of the original contents of the house remain, the museum’s exhibition space displays several of Liebermann’s works from its collection and long-term loans....
...They function as a place for depositors to safely store their cash and obtain other financial services beyond loans....
...From Bloomberg overnight: Citi Is in Talks to Start New Private Credit Strategy by Early 2024 Citigroup Inc. is in discussions to start a new direct-lending strategy by early January, the latest in a series...
...We’re being disciplined, and I think this year is a great testament to that....
...York Community Bancorp meanwhile fell by a quarter on Friday after the regional lender delayed its annual report, saying it had found material weaknesses in the internal controls that guide how it reviews loans...
...In today’s newsletter: DD chats with Silver Lake’s Egon Durban Private credit pounces on loan deals Silver Lake prepares for big ‘all-in’ bets US private equity group Silver Lake is up to big things....
...Roughly $10bn of so-called private credit loans have been refinanced in public markets, as borrowers pay down burdensome, high interest loans in favour of a cheaper alternative, according to data from Bank...
...Kemble is the company set up to raise finance for Thames Water, which needs the cash to service its massive debt load....
...But under the “terms of service” section of its website, BetterMed states that the company is not a lender and that it “provides no express or implied guarantee that you will be approved for a loan”....
...The deal is great for the new investors, highly dilutive for existing shareholders and will provide some temporary relief to NYCB’s capital needs after its acquisition of Signature Bank pushed its assets...
...The great majority of private credit funds poses little maturity transformation risk, yet the growth of semiliquid funds could increase first-mover advantages and run risks....
...I’ve got another meeting with Wes Streeting and Peter Kyle about AI in the health service tomorrow. Feel like I am making headway....
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