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...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....
...firms have reputations for being more litigious, being more activist and a lot of private equity don’t want to deal with those kinds of investors,” said Randy Raisman, managing director at Marathon Asset Management...
...Javid previously worked as head of credit and commodities trading in Asia for Deutsche Bank and more recently as an adviser to JPMorgan in London....
...These include Hong Kong-based Seiga Asset Management, Magnetar Asset Management and subsidiaries Blackstone Real Estate Special Situations Advisors and BX LCS....
...One scoop to start: Brookfield Asset Management is in advanced talks to buy a majority stake in $22bn private credit manager Castlelake as the world’s second-largest alternatives group uses acquisitions...
...That included loans associated with some marquee buyouts including Elliott Management’s takeover of technology business Citrix, Elon Musk’s purchase of social media company Twitter and Apollo’s acquisition...
...Those asset sales are propelling the growth of KKR’s credit business, which has become the group’s largest business line by assets with $219bn under management....
...Further reading:— The private credit ‘golden moment’ (FTAV)...
...Blackstone president Jonathan Gray told the Financial Times last May the world’s largest private capital group — which has $1tn of assets under management — could become a “valuable partner” to banks looking...
...It said: “We are comfortable that management has a viable plan to address the important matters facing the company.”...
...The targets signal his belief that he has identified ways to accelerate activity within the group, particularly in its fast-growing credit and insurance-based investment units....
...For private credit, the figure is 45 per cent. However, even beneficiaries are starting to protest....
...Apparently, Apollo Global Management has other priorities....
...Blackstone, with $1tn in assets under management, is the world’s largest alternative asset manager....
...“They are much smaller credits, harder to trade and wrap your head around,” Dan Ko, a portfolio manager at Eagle Point Credit Management, said of middle-market CLOs....
...Smart reads Flawed valuations Fund managers in the private credit industry are often valuing their loans more generously than others do. Regulators are starting to worry, Bloomberg reports....
...Big buyouts were financed by the likes of Ares Management, Sixth Street, HPS Investment Partners and Blue Owl....
...The share gains were fuelled by its fast-rising assets under management, which eclipsed $1tn for the first time, and its inclusion into the S&P 500 index....
...In August, Elliott Management pushed one of Novo Nordisk’s critical suppliers, Catalent, into a “strategic review”....
...Now a trillion under management (that’s a lot!)...
...S&P rates BPY’s debt BBB-, the lowest investment grade credit rating....
...fourth-largest by assets in the US, said it would invest in the new vehicle alongside Centerbridge, sovereign wealth fund Abu Dhabi Investment Authority and Canadian pension fund British Columbia Investment Management...
...HSBC has hired Credit Suisse veteran Rajat Sabharwal to lead its equities business in India, Bloomberg reported....
...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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