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...Additional reporting by Owen Walker and Ian Smith in London...
...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....
...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....
...that the departures would “create a range of issues” for Barings and attaching a term sheet offering to buy the credit business....
...Dimon estimated that the outstanding amount of bridge loans across Wall Street banks stood at about $100bn, which he said was far lower than the almost $500bn outstanding in 2007 as credit market stress...
...The collapse of Greensill Capital a year ago sparked a sprawling corporate and political scandal, engulfing scandal-prone Swiss lender Credit Suisse and former British prime minister David Cameron....
...The Tory donor and philanthropist will step back from his firm as the Canadian money manager bulks up in private credit....
...Last year, General Atlantic bought Tripp Smith’s credit firm Iron Park as it decided to push into debt-based investments....
...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....
...DD’s Rob Smith and Sujeet Indap explain why two US hedge funds are betting on this slightly ridiculous scenario playing out at Credit Suisse....
...They aren’t risky; there was only $139mn of credit loss allowances against employee loans as of the last 10-K....
...Private credit giants eye SVB’s leftovers Is it back to the future for Apollo Global Management?...
...Simpson Thacher & Bartlett has hired Stephanie Biggs as a partner in London, where she will co-lead the firm’s European financial services and funds regulatory team. She joins from Travers Smith....
...Arrival’s deal with Kensington Capital Acquisition Corp V values the company at $524mn....
...His father’s company — then called the Al-Zahawi Group, but now known as Iraq Projects Business Development (IPBD) — quickly procured a contract to provide cleaning, logistics and support services to the...
...As ever, drop me a note at sid.v@ft.com if you’ve got thoughts and ideas for upcoming Future of Money newsletters....
...Neobanks targeted by scammers Smart reporting from Tim Smith and Amy O’Brien on figures from the Financial Ombudsman Service shows that digital banks are facing soaring fraud rates....
...Its $440bn credit arm makes more business loans than some midsize banks, making it not so much an investment outfit as an alternative financial system....
...Short-term loans made through the iPhone maker’s new Apple Pay Later service will be made through a wholly owned subsidiary, Apple Financing LLC....
...Prior to Russia’s invasion of Ukraine, Elliott Management and Robert Smith’s Vista Equity Partners agreed a deal to take Citrix private for $16.5bn, merging it with an existing Vista portfolio company Tibco...
...Vista’s first such debt deal came a year after its founder, Robert Smith, settled a criminal investigation in October 2020 with the US Department of Justice in which he admitted to evading $43m in taxes....
...Andy Bird, the former Disney executive who has run the publisher since late 2020, has made some headway boosting online subscription services....
...(Nikkei Asia) News round-up Credit Suisse securitises yacht loans to oligarchs and tycoons (FT) US budget airline Frontier to buy rival Spirit for $6.6bn (FT) Landmark Credit Suisse money laundering...
...Typically our services have been catered to large, super-regional banks. But the market is changing and a lot of the smaller ones like the credit unions are going digital....
...The approach contrasts with competitor Vista Equity Partners, headed by billionaire Robert Smith, which for years sought to replace management and impose rigid change....
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