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...His own agency has also been sharpening its focus on segments of the credit card industry including subprime, cashback and third-party rewards....
...But the discussions underscore JPMorgan’s efforts to own a payments network to support its cards business and lessen its reliance on third parties such as Visa and Mastercard....
...In 2021, he hired three former Goldman partners — Paul Russo, Scott Rofey and Jeffrey Verschleiser — to lead the risk management of the firm’s equity, macro and rates, and credit divisions respectively....
...Traditional asset managers such as Franklin Templeton, AllianceBernstein and T Rowe Price have been racing to snap up alternative providers, including infrastructure, private equity and private credit funds...
...Last year, it acquired a footprint in credit investments by purchasing Iron Park....
...The move from Abu Dhabi’s main sovereign wealth fund, described by four people with knowledge of the matter, is a sign of how some Gulf investors are looking to snap up bargains as US-based investors cut...
...Warburg Pincus has teamed up with former Credit Suisse chair Sir António Horta-Osório on a €6bn-plus bid by the US private equity firm for Altice’s Portuguese telecoms assets, according to people familiar...
...Some of the UK’s biggest pension plans are taking advantage of steep price discounts to snap up real estate and other private assets, as fellow retirement funds put their harder-to-sell holdings on to the...
...his decision to swoop on the Barings team....
...At the time, Credit Suisse said a change to the contract would lead to a $600mn loss for the bank. But on Wednesday, UBS confirmed it would be a $900mn loss....
...Credit Suisse unit, as well as UBS and regulators....
...How do you do credit investing if you are agnostic on the macroeconomy, which is to say the default environment? Panossian: I would say we’re macro-aware....
...“On the other hand, it gets them a seat at the table for not much money.” News of the bid was first reported by Bloomberg. UBS and Citadel declined to comment....
...“Direct lenders made significant market share gains on the banks because the banks were undergoing periods of stress,” said Kipp deVeer, head of Ares’ credit business....
...There’s a private credit boom going on, and underworked, bonus-anxious investment bankers and their asset management colleagues are ON IT....
...Capital One and Discover said on Monday that the transaction is expected to generate expense synergies of $1.5bn in 2027 and deliver a return on invested capital of 16 per cent in 2027....
...The deal’s ability to win over competition regulators may depend on which business they focus on....
...On Monday, the Virginia-based bank said it had agreed to acquire Discover Financial Services for $35bn, to be paid all in stock....
...It has expanded into areas such as invoice financing and credit cards, and acquired a business that connects customers with professional contractors....
...company risk, or credit spread....
...Moody’s has cut New York Community Bancorp’s credit rating to junk, citing “high governance risks” and the potential for commercial real estate losses to create “confidence sensitivity”....
...That did not deter companies including Magic Leap, Amazon and Snap from launching smart glasses in the years since, but none has achieved mass-market success....
...Edward Finley of Arrow Wealth Advisory LLC pointed out that from a certain point of view, the question “does private credit, as an asset class, generate excess return” is a sort of category mistake: An...
...But for those in Miami for JPMorgan Chase’s annual credit conference this week, nothing was more enticing than a panel discussion on liability management exercises....
...Speaking at an event at Stanford University, he claimed credit for recognising years ago how significant AI would be for all of Google’s products....
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