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...Castlelake would sit in Brookfield’s recently formed credit unit, which also houses a controlling interest in Oaktree Capital Management....
...Barings is suing a Nomura-backed venture after most of its top private credit team defected to the new firm, in what the fund manager described as one of the “largest corporate raids at an asset manager...
...Credit Suisse, Deutsche Bank, Goldman Sachs and HSBC reported losses in their China-based units in 2022....
...Nomura declined to comment....
...He rose to be deputy chief executive officer of ICBC based in Hong Kong, where he was responsible for business development and management of investment banking and capital markets....
...or credit crossover funds or systematic quant funds at that at that time,” he says....
...Then came a private credit fund....
...“The World Bank is, we believe, ultimately keen to see the capital market step in and for market-oriented incentive mechanisms to develop.”...
...Over the past decade, capital has steadily flowed into private credit, with a marked pick-up after the pandemic began....
...“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....
...Banks such as Nomura have sought to build out their own private credit fund businesses after watching firms including Ares and HPS Investment make fortunes from the investment strategy....
...🔥 🔥 🔥 While we can understand credit managers finding themselves making the best of a bad situation in a distressed exchange refinancing, buying these things off-the-shelf is not for the faint-hearted...
...Sequoia’s mess in Sweden Where DD last left Sequoia Capital, one of Silicon Valley’s top venture capital firms, the investment group was in the middle of a dramatic boardroom battle at the Swedish “buy...
...Its conundrum is that nearly all of its $2bn annual capital expenditure budget is allocated to US projects....
...“While Tesla has real issues to contend with, we believe the company’s long-term upward trajectory remains intact,” said Christopher Tsai of Tsai Capital, which holds Tesla stock....
...The Nomura banker stuck in China On September 13, Charles Wang Zhonghe, a senior Hong Kong-based banker at Nomura, posted on social media that he was visiting China’s western Qinghai province....
...Market makers and brokers need capital and credit to cover the gross sum of their risks so they need to borrow money and have something of quality as collateral....
...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....
...A new owner solves the problem of the junk credit rating instantly and, Kelly believes, the mark-to-market losses on the loan portfolio are unlikely to be so large as to make a sale impossible....
...“Yamaji-san is the biggest activist in Tokyo at the moment,” said one banker in the capital city. For the majority of his career, Yamaji was a high-flyer at Nomura, Japan’s biggest investment bank....
...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....
...Mnuchin’s firm, Liberty Strategic Capital, is being joined by other investors including Hudson Bay Capital, Reverence Capital Partners and hedge fund Citadel....
...Some are primarily partnering with existing private credit players, or setting up their own investment funds, but others are putting significant capital behind their efforts....
...(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....
...and Creditor Bloodsport Capital....
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