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...As a breeding ground for cultivating selection neglect, private credit investment has a lot in common with wine auctions, and if it all goes wrong the holders won’t even be able to get drunk....
...But it adds up to real money if you multiply that dividend by 59 per cent of the company’s stock....
...So I laid out private credit took market share in lending to companies in 2023....
..., and lower net interest income, partially offset by lower provision for credit losses....
...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....
...And in recent years, the securitisation market has become a welcoming home to deals backed by everything from music rights to software companies’ private credit loans....
...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...
...But otherwise, give me a V-sweet C-suite job any time. As if anyone would....
...Other critics have suggested that activists take credit for improvements the company would have made anyway....
...Dennis Fan, a lawyer for the attorney-general’s office, argued that the former president could piece together a series of smaller bonds, or use his real estate portfolio to secure bank credit that could...
...Most people associate Barossa with the South Australian valley that produces a fair portion of Australia’s best wine....
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...Job moves Kirkland & Ellis has hired Alex Amos as a partner in the investment funds group focused on credit funds. Amos previously worked at Macfarlanes....
...Defcon wine Yes, the UK has strategic wine reserves. The government’s cellar is worth £3.7mn and FT Alphaville has done a full review....
...No vintner ever funnelled old wine into new bottles with the zeal shown by financiers. Consider private credit. This is the hottest new thing in finance since the last one....
...Loewy, a suave French-born industrial designer who had a way of claiming credit where credit was not necessarily due. He did not design the Coke bottle, as the Loewy Foundation website still suggests....
...Arnaud Strasser is the Belgian-born co-vice chairman of the board of the company that owns Casino supermarkets....
...All good reasons perhaps to hold back from buying another Birkin handbag, a case of Romanée-Conti wine or perhaps a reassuringly expensive print from Damien Hirst’s recent Cherry Blossoms series....
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...The Amazon: The complexities of the rainforest’s carbon credit market are being laid bare by a deepening scandal, writes Bryan Harris....
...Fitch downgraded Allstate’s holding-company credit to BBB+ from A- earlier this year, citing “sharp underwriting result deterioration”....
...Competitors, including Goldman Sachs and Credit Suisse, had taken the extraordinary step of complaining to prosecutors and regulators about Morgan Stanley’s block trade practices....
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