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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....
...Despite that, he backed efforts to do a deal for all or part of Discover, codenamed “Diplomat”....
...New York-based Warburg Pincus, with more than $83bn in assets under management, will gain a board seat as part of the deal....
...The classic principal and agent relationship — where an investor outsources management of their assets to an outside party — is rife with potential conflicts of interest....
...Last year, Apollo acquired the structured products unit of Credit Suisse shortly before the bank’s merger with UBS, taking ownership of one of the largest originators of high-rated asset backed securities...
...Blackstone merged its credit and insurance investment operations in September in preparation for a push into asset-backed lending markets, Gray and co-founder Stephen Schwarzman have told shareholders....
...Still, some are being cautious, and one group of investors doesn’t seem convinced: private equity is sitting on a record number of assets....
...Any possible partnership could extend to the Orient Express hotel and train assets, the people added....
...The deal is awkward for Downing Street given the government has endorsed Abu Dhabi funds flowing into the British economy via deals struck over key assets in the life sciences sector....
...Vanguard chief executive Tim Buckley plans to retire from the asset manager by the end of the year....
...Renamed GV, it now boasts more than 400 companies in its portfolio and has some $8bn in assets under management....
...Certain areas of lending where the regional banks used to be active — asset-backed finance, some types of small business financing, consumer lending — they’re no longer active in....
...Barclay family’s remaining business assets such as the Very Group....
...“There have been fewer LBOs and therefore less new loan volume,” said Michael Patterson, a governing partner at asset manager HPS Investment Partners....
...Asset managers have also been supporting executive pay petitions filed by outsiders, as opposed to the companies themselves....
...It is 49.5 per cent owned by Reinet Investments, a vehicle backed by South African billionaire Johann Rupert, and includes CVC Capital Partners among its shareholders....
...Gramercy has made a big push into asset-backed loans that he said offer higher yields and provide better protection in the event of defaults....
...We’ve talked about TRAs before, most notably in the buyout of Sculptor Asset Management last year....
...We know what the sales result was, and then we can figure out what were the most effective assets.”...
...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....
...The Yuga Labs event came as Hong Kong seeks to build itself into Asia’s premier crypto hub, launching a new licensing regime for retail trading of crypto assets and pressing top lenders including HSBC and...
...For private credit, particularly investment grade, the way that consumers and businesses borrow is traditionally through the asset-backed market. Asset-backed is, for the most part, private credit....
...Rowan said Apollo is making money the old-fashioned way: taking prudent risks where others no longer are willing to tread, such as in the senior secured financing of receivables, of aircraft, of real estate...
...So the company created a subsidiary called “Cayman Sub”, which then borrowed $200mn to help pay down asset-backed loans....
...PacWest has now sold loans backed by various “accounts receivable” weeks after flogging a multibillion-dollar portfolio of construction loans. It wants to focus on being a “community bank”....
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