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...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...In 2021, he hired three former Goldman partners — Paul Russo, Scott Rofey and Jeffrey Verschleiser — to lead the risk management of the firm’s equity, macro and rates, and credit divisions respectively....
...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....
...Alongside investing in telecoms, Warburg also backs companies in the technology, healthcare and business services sectors, among others....
...Unlike some rivals, privately held Warburg has not dramatically increased the sizes of its funds and has largely avoided, in recent years, moving into new business lines such as credit in order to rapidly...
...The debt deal with Apollo marks one of the largest deployments of private capital into professional services and will be closely watched by the rest of the accounting sector, which has typically shied away...
...A month later the New York-based firm said it had acquired private credit firm Iron Park, a business set up by Tripp Smith, a former Blackstone credit executive....
...that the departures would “create a range of issues” for Barings and attaching a term sheet offering to buy the credit business....
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
...Still, buyers’ remorse often sets in when the credit card bill arrives....
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
...Capital One’s $35.3bn proposed takeover of Discover Financial Services would fuse two leading credit card lenders and give it control of a network that connects consumers, merchants and banks....
...obliviousness offered by private BDCs and other nontraded private credit vehicles....
...Ant’s bid for Credit Suisse Securities (China) Ltd, which includes investment banking and brokerage services in mainland China, could complicate UBS’s plans to dispose of its stake in the unit....
...UBS put the unit, which includes investment banking and brokerage services, up for sale after taking control of Credit Suisse when it collapsed last year....
...“Everyone is losing sight of the fact that this market is too big for just private credit or banks.” Additional reporting by Sun Yu...
...Moody’s has cut New York Community Bancorp’s credit rating to junk, citing “high governance risks” and the potential for commercial real estate losses to create “confidence sensitivity”....
...But for those in Miami for JPMorgan Chase’s annual credit conference this week, nothing was more enticing than a panel discussion on liability management exercises....
...Speaking at an event at Stanford University, he claimed credit for recognising years ago how significant AI would be for all of Google’s products....
...If you’re the hacker, claim credit: robert.armstrong@ft.com and ethan.wu@ft.com. Value revisited: where are the cheap stocks?...
...In April, it acquired credit manager Iron Park as it expanded into investments benefiting from higher interest rates....
...Argus subsequently grew by acquiring other companies and counts Platts, part of credit rating company S&P, among its competitors....
...Credit Suisse investors want their money back Swiss politicians labelled UBS’s emergency rescue of Credit Suisse the “deal of the century”....
...Meanwhile, big money managers nowadays use artificial intelligence to sift through vast data sets such as real-time credit card sales and earnings call transcripts in a never-ending attempt to gain an edge...
...The credit business Zito leads includes roughly $461bn of the firm’s investments across structured credit, corporate bonds and loans and private credit....
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