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Aug 23, 2024 | 
ionanalytics.com | Lisa Fu |Lisa Lee |Ben Miller
News (Intelligence) Antares Capital is looking to develop a private credit secondary business, according to three sources familiar with the matter, that would buy loans originated by other lenders in the USD 1.7trn market.
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Mar 21, 2024 | 
bnnbloomberg.ca | Lisa Lee
(Bloomberg) -- The dangers of private credit firms overvaluing their own assets has become one of the booming $1.7 trillion industry’s most contentious topics in recent weeks. New data on how much money they expect to get back from defaulting borrowers will only add fuel to that fire.
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Mar 1, 2024 | 
asreport.americanbanker.com | Lisa Lee |James Crombie
(Bloomberg) -- Banks selling loans to cope with US oversight proposals are creating a opportunity in the private credit market that can generate outsized returns, according to Mark Jenkins, head of global credit at Carlyle Group Inc. The international overhaul of regulations known as the Basel III endgame may trigger big increases in bank capital requirements.
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Feb 26, 2024 | 
news.bloomberglaw.com | Lisa Lee
Goldman Sachs Group Inc. and Morgan Stanley are increasingly willing to temporarily hold onto some of the riskiest parts of new collateralized loan obligations, in a bid to win more market share in the once again booming business of helping firms package leveraged loans into bonds. The Wall Street banks have in recent months been selectively offering to underwrite the so-called equity portions of CLOs as part of a push to win deals, according to people with knowledge of the matter.
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Feb 25, 2024 | 
news.bloomberglaw.com | Sridhar Natarajan |Lisa Lee
Goldman Sachs Group Inc. has clinched $1 billion from Mubadala Investment Co. to scour for more private credit deals in Asia. The Abu Dhabi sovereign wealth fund and Goldman’s asset-management arm struck a partnership to invest alongside each other in the Asia-Pacific region, with a particular focus on India.
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Feb 23, 2024 | 
bnnbloomberg.ca | Lisa Lee |James Crombie
(Bloomberg) -- More US banks will fail as the commercial real estate crash begins to work its way through to lenders’ balance sheets, according to Joshua Pack, co-chief executive officer at Fortress Investment Group LLC. Fortress has already acquired about $1.5 billion of performing office loans from financial institutions at prices ranging from 50 cents to 69 cents on the dollar, he said in an interview with Bloomberg’s Credit Edge podcast.
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Feb 23, 2024 | 
news.bloomberglaw.com | Lisa Lee |James Crombie
More US banks will fail as the commercial real estate crash begins to work its way through to lenders’ balance sheets, according to <-bsp-person state="{"_id":"0000018d-d617-d64e-af9d-d65f53c70000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Joshua Pack-bsp-person>, co-chief executive officer at <-bsp-bb-link state="{"bbHref":"bbg://securities/3867693Z%20US%20Equity/PHD","_id":"0000018d-d617-d64e-af9d-d65f53c70001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Fortress Investment...
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Feb 14, 2024 | 
bnnbloomberg.ca | Lisa Lee |Carmen Arroyo
(Bloomberg) -- A crowd of large global banks is starting to muscle in on the lucrative business of arranging collateralized loan obligations, another sign that life’s returning to this crucial $1.3 trillion corner of corporate finance. Credit Suisse used to be a big arranger of CLOs — vehicles that buy up junk-rated company loans, bundle them together and sell them as bonds.
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Jan 31, 2024 | 
news.bloomberglaw.com | Lisa Lee
<-bsp-bb-link state="{"bbHref":"bbg://securities/17996Z%20US%20Equity","_id":"0000018d-5f9b-d52b-a3af-ffffe9a10000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Charlesbank Capital Partners-bsp-bb-link> has raised $1.5 billion for its third opportunistic credit fund, exceeding an initial target. The fund will invest in new corporate loans and also purchase deals from other private credit shops across performing, stressed and distressed situations.
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Jan 30, 2024 | 
news.bloomberglaw.com | Lisa Lee
Investment banks are pulling ahead of their private credit rivals to provide the €3 billion ($3.25 billion) debt package backing a potential buyout of <-bsp-bb-link state="{"bbHref":"bbg://securities/3317157Q%20GR%20Equity","_id":"0000018d-5a4c-d52b-a3af-fbfe5ad50000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Techem GmbH-bsp-bb-link>, according to people familiar with the matter, aided by a rally in European credit markets.
