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...MassMutual is making a minority investment in Atlas SP so it can gain access to the asset-backed debts the unit originates, packages into securities and sells....
...Alongside Warburg, a group of older private equity managers such as Clayton, Dubilier & Rice, CVC Capital Partners, TA Associates and GTCR have all recently closed large funds above their targets....
...Its new fund — known as Strategic Investment Partners V — plans to buy risky debt, including junior loans and convertible bonds, as well as preferred stock....
...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....
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
...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....
...Dechert has hired Brian Miner as a partner in its corporate and securities practice group. He joins from Schulte Roth & Zabel, where he co-chaired its M&A and securities group....
...If you’re the hacker, claim credit: robert.armstrong@ft.com and ethan.wu@ft.com. Value revisited: where are the cheap stocks?...
...Credit Suisse investors want their money back Swiss politicians labelled UBS’s emergency rescue of Credit Suisse the “deal of the century”....
...The New York-based group, which manages $77bn in assets, has filed confidential paperwork with the US Securities and Exchange Commission for the public offering, two people familiar with the matter said,...
...Trevor Milton, the founder of Nikola, was convicted of securities fraud last year, and is now facing sentencing later this month....
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
...DD finds it interesting that Watchdog was a name floated early on for the news unit, given that it will undoubtedly catch the attention of securities watchdogs who haven’t yet encountered this novel trading...
...gained 26 per cent, Englander hired three former Goldman partners — Paul Russo, Scott Rofey and Jeffrey Verschleiser — to lead the risk management of the firm’s respective equity, macro and rates, and credit...
...Securities....
...Deloitte is set to cut hundreds of jobs in the UK as clients cut spending on advisory services in a tougher economic environment....
...But the firm’s crown jewel is still its statistical arbitrage strategy, which uses algorithms to exploit patterns in securities pricing, investors say....
...The firm has plenty of cash — it disclosed in a recent securities filing that it had already raised more than $19bn for its newest private equity fund, which generally wouldn’t reflect the firm’s own commitment...
...Job moves Private equity firm Clayton, Dubilier & Rice has hired former Tesco boss Sir Dave Lewis as an operating adviser....
...Competitors, including Goldman Sachs and Credit Suisse, had taken the extraordinary step of complaining to prosecutors and regulators about Morgan Stanley’s block trade practices....
...Houlihan Lokey has hired Abhishek Jain as a managing director on its transaction advisory services team. He joins from KPMG and is based in Chicago....
...They can still underwrite debt and equity securities — as the markets permit — but must move the securities off their balance sheets as quickly as possible....
...The potential for eking out market-beating gains is therefore much greater (simply loading up on credit would have done nicely over the past 20-30 years)....
...Other deals, such as KKR’s agreement last week to purchase up to €40bn of consumer loans originated by PayPal, have more closely resembled traditional asset-backed securities....
...Leave your credit card in your wallet, don’t go near an ATM, and come armed with US dollars in cash that you can change into pesos on the ground. Not just any dollars, crisp $100 dollar bills....
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