Hints and tips:
...So-called direct lenders from the private credit industry have become a force on Wall Street, allowing companies to bypass traditional banks when they seek to take out multibillion-dollar loans....
...Some of our vehicles for institutional LPs historically would have one turn of leverage. And that oftentimes applies to our direct-lending business or private credit business....
...Indeed, they were viewed as the key pillar of the free-market, profit-seeking forces championed by the 18th-century economist Adam Smith....
...Tom Secunda, Peter Grauer and I have all focused on developing a deep bench, which now gives us the opportunity to focus on our clients in ways that others can’t, helping to lay a path for our sales force...
...US private equity group Carlyle is seeking to force an early repayment of a loan of just under £200mn provided to the owner of London Southend Airport, alleging multiple breaches of contract....
...The move marked Peltz’s second effort to force change at Disney after aborting an earlier attempt to allow Iger to implement changes at the group....
...Investors have also begun demanding restrictions that force firms to seek approval for such borrowing when they raise a new fund, the people said....
...One challenge will be disposing of $30bn in proprietary balance sheet investments, which can generate large profits or losses and force Goldman to hold a high amount of loss-absorbing capital against them...
...Political instability forces a domestic servant out of her job and home, but she finds temporary accommodation with a group of primary sector workers....
...And the forces now boosting it may not have enough kick to keep prices rising....
...The US group, for so long the dominant force in golf, has lost some of the biggest draws in the sport, from Phil Mickelson to Cameron Smith....
...“The key driving force for this wave of shift is not just about the surging costs in China but for the risk concerns of the US-China tech war and geopolitical uncertainties,” Chiu told Nikkei Asia....
...“That’s why there’s some hope that they can be a positive force,” says Williamson. Good, bad or ugly?...
...While borrowers have hedged many of their variable-rate loans against higher interest rates, Block said many of those hedges would expire next year, exposing them to the full force of higher rates and refinancing...
...‘En meme temps’ The challenges facing Macron were encapsulated in the drama that erupted this month over a long-promised immigration reform....
...At the same time, there are more part-time workers, fewer temp workers and a drop in the quits rate. All signs of softness....
...Some of the world’s largest private equity firms are accelerating a pivot away from mega buyouts and into businesses such as private credit as higher interest rates force them to tear up their playbooks....
...Jonathan Gray, president of Blackstone, said in an interview with the Financial Times that the jump in 10-year Treasury yields would force consumers to tighten their belts....
...The company faces a crucial shareholder continuation vote over its future in October that will force investors to decide whether to liquidate the fund or back it for another five years....
...A lawyer for Bleckley said his client was “a dedicated member of the armed forces” who “places a high priority on doing what’s right”....
...But forces were put in motion. Private equity group TPG has approached EY about buying a stake in its consultancy arm, according to a Financial Times report. EY rejected the proposal....
...Restricting equity funders from withdrawing their funds during such patience-testing periods as the 2008 financial crisis also helped Blackstone make the most from such beneficent macro forces....
...TPG’s approach comes as EY attempts to select a replacement for Di Sibio, the driving force behind Everest. After the project unravelled in April, he said he would retire in June next year....
...The latest Lexington fund “speaks to the sheer demand” from LPs that feel “over-allocated” to private capital including to start-ups, they said....
...Urwerk combined forces with Laurent Ferrier to produce a unique sculptural piece that housed a satellite display to tell the time....
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