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...It is also the biggest fund ever raised by Brookfield, which manages $850bn across sectors spanning real estate, credit and insurance, renewable energy and corporate buyouts....
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...While ADM’s management was “pretty optimistic about it”, he said, for investors “it’s always been a show-me story . . . if you can show consistent performance within the segment, then we’ll give you credit...
...Bond yields have “come down enough from their peak that we see demand [from companies and households] for credit going forward”....
...Bespoke rules make contracts “very, very difficult to port from one provider to another”, said Nikesh Patel, chief investment officer at Van Lanschot Kempen Investment Management....
...And don’t miss Antoine and Brooke’s profile of Ogunlesi, who rose to head investment banking at Credit Suisse before founding GIP in 2006....
...As Fink built BlackRock into a force in traditional asset management, Ogunlesi rose to head investment banking at Credit Suisse before founding GIP in 2006 with a group of other alumni of the now-defunct...
...Liontrust’s fortunes illustrate how M&A is not a panacea for the challenges facing the fund management industry....
...Apollo Global Management’s Marc Rowan called it a “worldwide phenomenon”, and Ares Management’s Michael Arougheti sees “risk-reward characteristics that are as favourable as we’ve seen in many years”....
...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....
...rule that could cap the amount of late fees credit cards can charge consumers....
...In other words, it seems possible that the management team is just not very good.”...
...Flynn will retain another role as co-head of private wealth management, and succeeds Kim Posnett....
...Moody’s said NYCB faced numerous “financial, management and risk management” issues....
...Capital for the loans would come from overseas credit funds and local banks, Arora said....
...Goldman Sachs and Morgan Stanley, whose businesses skew more towards investment banking and money management, report earnings on Tuesday....
...The 133-year-old Swiss bank had interviewed Credit Suisse’s then hotshot head of wealth management, Iqbal Khan, for the role, but ended up settling on the relatively unknown insider Rickenbacher....
...A $600mn equity investment in UK waste management company Biffa in early 2008 proved disastrous....
...Moelis has hired Robert Mendelson as a managing director focused on credit investment institutions and platforms. He joins from Venor Capital Management....
...Fink and Ogunlesi have known each other since both were at Credit Suisse in the 1980s....
...Société Générale and Brookfield Asset Management are to team up for a €10bn fund in the fast-growing, private credit market as the French bank’s chief executive Slawomir Krupa looks to shake up the lender...
...(Patrick Temple-West) Smart read I recommend Kenza Bryan’s article with our colleague Joe Daniels, reporting from Georgetown, Guyana, about the country’s carbon credits....
...But from a risk-return point of view, is credit risk attractive right now? Rieder: I’d say it’s a B-. But it’s not a C. Why are you getting these sorts of yields in credit today?...
...Delinquencies in credit card and commercial real estate loans were on the rise, the FDIC said, and were now at the highest level in almost a decade....
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