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...Castlelake would sit in Brookfield’s recently formed credit unit, which also houses a controlling interest in Oaktree Capital Management....
...Many of its publicly traded peers, aware of the need to continue increasing assets under management, have built large credit businesses over the past decade or so....
...It is also the biggest fund ever raised by Brookfield, which manages $850bn across sectors spanning real estate, credit and insurance, renewable energy and corporate buyouts....
...At the end of December, index funds and ETFs accounted for $6.6tn in assets under management, two-thirds of BlackRock’s $10tn in assets....
...This structure helps circumvent US regulations when globally significant banks, such as Crédit Agricole, own fund management companies. One can see the attraction for Amundi....
...Bond yields have “come down enough from their peak that we see demand [from companies and households] for credit going forward”....
...Others, such as Goldman Sachs and Morgan Stanley, have relied on their wealth and asset management arms....
...Inside the daring raid on Barings that has shaken the $1.7tn private credit market....
...First Solar said it would sell up to $700mn of tax credits for which it was eligible to Fiserv, a large, listed fintech company which was willing to pay 96 cents on the dollar....
...Finra set the interest rates at those set out in the tax code between March 2018 and March 2020....
...How scary is private credit? Judge for yourself with this Unhedged podcast and the IMF blog and source documents....
...ETFs are having tremendous success in the industry as low-cost, tax-efficient portfolio building blocks,” he added....
...Bespoke rules make contracts “very, very difficult to port from one provider to another”, said Nikesh Patel, chief investment officer at Van Lanschot Kempen Investment Management....
...Goldman Sachs’ Petershill Partners, which owns minority stakes in alternative asset companies, has bought a stake of more than 20 per cent in private credit specialist Kennedy Lewis Investment Management...
...In its full-year results on Thursday, M&G reported a 28 per cent rise in pre-tax adjusted operating profit in 2023, to £797mn, beating analysts’ expectations....
...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....
...With the bulk coming from just one claims management company, these are rising weekly. Next year’s earnings were expected to pick up markedly....
...WW’s $1.3bn net debt — nine times its earnings before interest, tax, depreciation and amortisation — also worries some market participants who believe the company may face unmet financial obligations or...
...The management of Altice’s heavily indebted French telecoms business badly burned bondholders last month, when they carefully explained on a results call that, because modern-day debt covenants have more...
...Kirkland & Ellis has named Ceinwen Rees as a tax partner in London. She joins from Macfarlanes....
...(Patrick Temple-West) TAX POLICY Taxes take centre stage Monday was the US federal tax due date for Americans — a culmination of our annual slog through the IRS’s painfully complex rules....
...As Fink built BlackRock into a force in traditional asset management, Ogunlesi rose to head investment banking at Credit Suisse before founding GIP in 2006 with a group of other alumni of the now-defunct...
...Morgan Stanley Investment Management has filed to adopt Vanguard’s exchange traded fund multi-share class structure, becoming the fifth in line to seek approval to do so....
...Liontrust’s fortunes illustrate how M&A is not a panacea for the challenges facing the fund management industry....
...BofA’s Ryan said: “If it were not for the interest in the Credit Suisse integration and related costs at the full-year results, we would have been all over the US wealth management issues because profitability...
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