Hints and tips:
...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....
...Big lenders such as Barclays and Bank of America have been stuck holding loans that they initially intended to sell....
...The deal allowed Credit Suisse to cut its holdings of such assets from $75bn to $20bn. Apollo rebranded the business as Atlas....
...“It’s a lack of affordable vehicles that is holding back more profound growth in EV adoption in the US,” said Sam Adham, analyst at CRU Group....
...The credit business Zito leads includes roughly $461bn of the firm’s investments across structured credit, corporate bonds and loans and private credit....
...have been proven to be inaccurate or misleading in any material respect; The filing, an annex to the group’s annual 10-K report last March, is an “amended and restated” (though clearly not by enough) credit...
...The person added that the dislocation in the riskiest corners of credit markets was a “market issue” that Vista believed was unrelated to Finastra....
...Koenigsberger added that investors in emerging markets should emulate allocators in developed markets and build up their private market holdings....
...It is further seen in alarming credit trends metastasising on leveraged balance sheets....
...Credit Suisse investors want their money back Swiss politicians labelled UBS’s emergency rescue of Credit Suisse the “deal of the century”....
...One thing to start: The private equity industry is facing a “shakeout” that could result in painful losses for investors who piled into the sector without properly understanding the risks of holding illiquid...
...Some are holding out hope that public markets will rebound, opening the door to a much wider pool of buyers of high-yield bonds and leveraged loans....
...or missed principal and interest payments on those holdings....
...Daniel Cash, a credit ratings specialist at Hong Kong law firm Ben McQuhae, compares this situation to how credit rating agencies operated before the 2008 financial crisis, which drew the attention of regulators...
...The Tory donor and philanthropist will step back from his firm as the Canadian money manager bulks up in private credit....
...RBC has revamped its European credit team, tapping Bank of America’s Georgio Gregoriou, Credit Suisse’s Marc Sánchez Roger and company insider Andrea Marcheggiano for senior roles....
...The four executives are Matt Nord and David Sambur — two senior partners who lead Apollo’s private equity business — as well as deputy chief investment officer of credit John Zito and Grant Kvalheim, president...
...“Banks are nervous to underwrite single-B credit with M&A timelines which could be six months of holding the risk,” said Lauren Basmadjian, co-head of liquid credit at Carlyle....
...Athene itself was conservatively capitalised with an A credit rating and billions in capital that exceeded regulatory requirements....
...I think those firms that have gotten a lot bigger in credit and mezzanine credit could live to regret that.”...
...The insurance units are required by state regulators to invest the vast majority of their holdings in investment-grade rated debt, to safeguard policyholders....
...“You don’t want to be the last person left holding the bag.”...
...The consortium, which also includes Monroe Capital, agreed to provide $225mn in credit for its assets, in addition to the assumption of “significant liabilities”....
...About 75 per cent of Apollo’s assets under management are in private credit....
...Unusually, Platinum itself provided the financing, they said....
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