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...It also shows how the Gulf, long seen by many in Silicon Valley as an easy source of funding, is increasingly regarded as a credible technology partner....
...Other investment outfits inside Brookfield’s credit group include European credit manager LCM Partners, a stake in music royalty group Primary Wave, and a technology-focused lender called Pinegrove, in which...
...Omar Sultan al Olama, the UAE’s AI minister, said more than 1,000 companies with a focus on AI were now operating in the Gulf state....
...The move from Abu Dhabi’s main sovereign wealth fund, described by four people with knowledge of the matter, is a sign of how some Gulf investors are looking to snap up bargains as US-based investors cut...
...Another 50 cents is collected by the merchant acquirer, or companies such as Block or Stripe that provide the shop’s point-of-sale service system....
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...Capital for the loans would come from overseas credit funds and local banks, Arora said....
...By September 2023, Weightman began assembling a private credit team, said Corinthia....
...A&M has significantly expanded its international operations in recent years, including in the Middle East, competing with global advisory firms such as the Big Four professional services groups....
...Full-service banks such as JPMorgan are built for scale — ie getting as many deals through the door as possible — so there’s only so much impact any one individual can make. That’s intentional....
...Several of the bank’s businesses — including credit cards and corporate transaction services — did better than expected in a quarter that many thought would be marred by the upheaval of the restructuring...
...“As a concept, credit-backed gilt repo is really exactly the same as having credit-backed swaps,” said Simeon Willis, chief investment officer at consultancy XPS Pensions....
Senators assail consultants for helping Riyadh use ‘soft power’ to build influence in the US
...The gulf between the two worlds had not been this wide in at least a decade, said Khoda. By her calculations, direct lenders were charging roughly 2.5 percentage points more than banks....
...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...
...And there are few hotter fads in finance today than private credit. What artificial intelligence is to tech, private credit is to Wall Street....
...“Pemex will require ongoing government support for the foreseeable future,” said Andrew De Luca, emerging markets credit analyst at Pemex bondholder T Rowe Price....
...Before the recent rise in interest rates, this mostly involved gawking at the erosion of lender protections in bond contracts and having fun with credit default swaps....
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...In July 2021, the SEC fined UBS Financial Services, now owned by Credit Suisse, $8mn for holding short-term, volatility-linked ETPs for customers longer than designed....
...Bond yields have “come down enough from their peak that we see demand [from companies and households] for credit going forward”....
...“A very strong labour market means, all else equal, strong consumer credit,” Barnum said....
...In 2008, Blackstone acquired GSO Capital, a credit manager with $10bn in assets managed. Today, Blackstone has $300bn in credit assets, even as most of the original GSO brass have long departed....
...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...
...“There are things you can do to generate improvements in operational efficiency and customer service and, obviously, revenues.”...
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