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...The deal under discussion would see Brookfield invest more than $1.5bn to buy a majority interest in Castlelake and make a large investment in its funds, three people briefed on the matter told the Financial...
...Last year, it closed its flagship Asia V buyout fund after raising $7.1bn, eclipsing its targets....
...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....
...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....
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...Corinthia told the Financial Times that it had offered Barings to manage some of its funds after these top executives had resigned....
...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....
...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....
...Consultants draw parallels with the kind of credit used to back some interest rate swaps that blew up in the 2008 financial crisis....
...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...
...Job moves Centerview has hired former Credit Suisse co-head of Emea financial institutions group Israel Fernández as a partner, Financial News reports....
...-The DD team In today’s newsletter: Banks chase after private credit Japanese financial titans square off This Thanksgiving, banks were thankful for private credit Find someone who loves you like banks...
...This is something the UK regulator, the Financial Conduct Authority, is now looking at....
...Chang’s and business technology provider Computer Services Inc....
...The history of combinations in financial services is littered with examples where the prized assets quickly walked out the door....
...“The financial health of our consumers remains strong,” Wells chief executive Charlie Scharf told analysts....
...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....
...“CVR Energy is a cash cow,” said Nick Moglia, a credit analyst with CreditSights....
...Ogunlesi and a handful of colleagues, mostly from Credit Suisse, considered private equity, then near the apex of a pre-financial-crisis takeover bubble....
...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...
...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...
...Interchange fees are levied by Visa and Mastercard on behalf of lenders for debit or credit card payments carried out through their network....
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
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