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...JPMorgan started actively exploring a deal in mid-2021, but abandoned the effort in mid-2022 when it failed to convince Discover of its merits, people familiar with the matter told the Financial Times....
...UBS chief executive Sergio Ermotti has hit out at European politicians and regulators for deliberately suppressing the continent’s banks and allowing US rivals to dominate globally....
...There will also be an undisclosed amount of debt financing provided by a group of private lenders including Blackstone Credit, HPS Investment Partners and Blue Owl Capital....
...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....
...Europe is the fastest-warming continent in the world, with temperatures rising at roughly twice the global rate....
...By September 2023, Weightman began assembling a private credit team, said Corinthia....
...Despite the plane maker’s latest problems surrounding its mid-air incident on one of its Max 9 aircraft last month, Mesfin expressed confidence in the company....
...Dell’s vehicle will take a passive stake in 5C and invest in the firm’s first fund, which plans to provide senior loans to mid-sized and large businesses....
...The FAA’s temporary grounding applies to all Max 9 aircraft with a mid-cabin door plug installed in the fuselage....
...So how will the moves into private credit play out? Today just 10 firms account for 40 per cent of private credit fundraising in the last 24 months, according to Preqin....
...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....
...There are 215 Max 9 aircraft in service globally, according to data from aviation consultancy Cirium....
...The company’s first fund plans to provide senior loans to mid-sized and large businesses....
...“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....
...Reverence Capital, founded by three former Goldman Sachs executives, is led by Milton Berlinski, who founded the investment bank’s financial institutions group and has targeted mid-sized financial services...
...Instead, RSM intends to focus on integrating its international network to reflect the global ambitions of the mid-market businesses it caters to, Becker told the Financial Times....
...But for now, the outlook for Europe’s debt collectors is deteriorating faster than the continent’s credit cycle. A soft landing is hard luck in this business....
...And there are few hotter fads in finance today than private credit. What artificial intelligence is to tech, private credit is to Wall Street....
...added Bioy, who feared a proliferation of differing ESG standards across the continent. She said there could be as many as 15 national and European labels by 2025....
...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....
...core service growth (such as cloud, warranty) tied to the installed base and is thus only growing by mid-single digits. 6....
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...Finance ministers are rarely ecstatic when their credit rating is being slashed....
...“A very strong labour market means, all else equal, strong consumer credit,” Barnum said....
...I’ve been pretty out there about my view that the US economy is much more resilient than people give it credit for. We have a 70 per cent service-sector economy....
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