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...Minneapolis-based Castlelake is a specialist lender with a focus on aircraft leasing, providing financing for large airlines including United Airlines and Turkish Airlines that is secured against their planes...
...In a research note on Monday, Bank of America analysts said they had “several conversations” with the NYCB management team over the past 48 hours....
...Hotels have started to drop prices as well, as they compete for occupancy, according to tourism specialist Olivier Petit at consultancy In Extenso....
...Sotheby’s high-profile hires include Claire Reynolds, an 18-year veteran of Savills, Marcus O’Brien, right-hand man to Gary Hersham at the luxury specialist Beauchamp Estates....
...Katy Eatenton, mortgage and protection specialist at financial services group Lifetime Wealth Management, said the data highlighted “the immense pressure tenants are under....
...Fifteen years later, China Evergrande, the world’s most indebted property developer, has collapsed — and they are handling the wreckage....
...bankers, lawyers and security specialists....
...*Ignites Europe is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at igniteseurope.com....
...Part of the pain has been sector-wide, with midsized managers finding themselves squeezed between juggernauts, such as BlackRock and Vanguard, and specialist managers, such as Baillie Gifford....
...Tritax Management, a specialist fund manager backed by Abrdn, would take over the running of the combined group, which would have a market capitalisation of £3.9bn and a portfolio of £6.3bn, the companies...
...Probitas, which provides commercial insurance including professional liability and property catastrophe cover, will keep its management team and brand....
...Probitas, which provides a range of insurance from professional liability to property catastrophe cover, will retain its management team and brand after the deal....
...Emerging markets specialist Gramercy, which made big profits a year ago on distressed developer debt in China, has scented an opportunity to repeat the trick and has bought back into the sector....
...Goldman Sachs’ Petershill Partners, which owns minority stakes in alternative asset companies, has bought a stake of more than 20 per cent in private credit specialist Kennedy Lewis Investment Management...
...But another crucial change has been improved liquidity, thanks to a raft of new open-ended funds launched by large alternative investment managers like Blackstone, Ares Management, and Apollo Global Management...
...“When you have Hong Kong liquidators in, under Hong Kong law you can require the board to give you the books and records,” said one specialist in restructurings....
...Moody’s said NYCB faced numerous “financial, management and risk management” issues....
...However, the rating agency did say that it saw the suspension of debt payments as “a portfolio management exercise by BPY, not a default”, and that parent Brookfield Corporation, with $850bn of assets under...
...Alexander Yokum, an analyst at CFRA, downgraded NYCB’s shares to “hold” on Wednesday, saying: “Our diminished view reflects falling confidence in management’s ability to integrate its recent acquisitions...
...“The [specialist] companies are helpful but expensive,” he says....
...*Ignites is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at ignites.com....
...The decline moderated, leaving shares down almost 26 per cent on the day and taking their year-to-date drop to 65 per cent amid worries about the US regional lender’s exposure to the commercial property...
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