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...Other investment outfits inside Brookfield’s credit group include European credit manager LCM Partners, a stake in music royalty group Primary Wave, and a technology-focused lender called Pinegrove, in which...
...Another 50 cents is collected by the merchant acquirer, or companies such as Block or Stripe that provide the shop’s point-of-sale service system....
...Job moves Credit Suisse’s final chief executive Ulrich Körner is set to leave UBS in the coming weeks....
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...The company now says profits and cash flow are sufficiently formidable to support debt service and capital expenditure without the need to raise fresh cash....
...By September 2023, Weightman began assembling a private credit team, said Corinthia....
...Many banks, she reckons “are unable to uniquely identify and systematically aggregate or measure their combined credit and counterparty risk exposures to the private equity sector”....
...Several of the bank’s businesses — including credit cards and corporate transaction services — did better than expected in a quarter that many thought would be marred by the upheaval of the restructuring...
...Full-service banks such as JPMorgan are built for scale — ie getting as many deals through the door as possible — so there’s only so much impact any one individual can make. That’s intentional....
...DBRS’s report also contains this wonderful description of Sotheby’s Financial Services’ collection strategy if any deadbeat art collectors fall behind on their payments: SFS employs a strategy for collections...
...“As a concept, credit-backed gilt repo is really exactly the same as having credit-backed swaps,” said Simeon Willis, chief investment officer at consultancy XPS Pensions....
...Of Tesla’s total quarterly sales of $21.3bn, 82 per cent were indeed “automotive revenues” while the rest were energy and services....
...Berkshire also has an $18bn credit line with National Indemnity, allowing it to borrow billions of dollars should Buffett need to move quickly to tap capital....
...And there are few hotter fads in finance today than private credit. What artificial intelligence is to tech, private credit is to Wall Street....
...Before the recent rise in interest rates, this mostly involved gawking at the erosion of lender protections in bond contracts and having fun with credit default swaps....
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...In July 2021, the SEC fined UBS Financial Services, now owned by Credit Suisse, $8mn for holding short-term, volatility-linked ETPs for customers longer than designed....
...Bond yields have “come down enough from their peak that we see demand [from companies and households] for credit going forward”....
...In 2008, Blackstone acquired GSO Capital, a credit manager with $10bn in assets managed. Today, Blackstone has $300bn in credit assets, even as most of the original GSO brass have long departed....
...“A very strong labour market means, all else equal, strong consumer credit,” Barnum said....
...The money will act as seed capital for a variety of funds invested in public equities and bonds as well as alternative assets, such as private credit and infrastructure....
...From Bloomberg overnight: Citi Is in Talks to Start New Private Credit Strategy by Early 2024 Citigroup Inc. is in discussions to start a new direct-lending strategy by early January, the latest in a series...
...“There are things you can do to generate improvements in operational efficiency and customer service and, obviously, revenues.”...
...You, a rube like Alphaville, may have noticed the looming economic downturn and think it’s a bad time to be lending to fast-growing but asset-lite Vapourware Inc owned by investment firms FaceRip Street...
...And don’t miss Antoine and Brooke’s profile of Ogunlesi, who rose to head investment banking at Credit Suisse before founding GIP in 2006....
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