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☆ Family offices have tripled since 2019, creating a new gold rush on Wall Street
▼ + stars: | 2024-03-08 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Experts say family offices now manage $6 trillion or more, and their ranks are growing. According to a new report from Preqin, the number of family offices — the private investing arms of wealthy families — topped 4,500 worldwide last year. North America has the largest share of family offices, with 1,682. Blackstone, KKR and Carlyle have all been expanding their teams, funding events and building products catering specifically to family offices. Now they're more like institutional investors, seeking higher long-term returns with private equity, venture capital, hedge funds, infrastructure and real estate.

Persons: —, Robert Frank, Carlyle, Rachel Dabora, Craig Russell, Blackstone, Russell Organizations: Blackstone, KKR, Wealth Solutions, Private Capital Group, Blackstone's Private Capital Group Locations: Preqin, America, North America

☆ Private credit may offer high yields, but investors should tread carefully. What to know
▼ + stars: | 2024-02-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +8 min

Private credit has become a hot investment on Wall Street as institutional investors seek out alternative investments with attractive dividends. "Investors might consider allocating a portion of their portfolio to private credit, depending on their individual risk tolerance, investment horizon and financial goals." Private credit funds have yields generally in the low-teens, although it can vary, he said. In a February report on U.S. life insurance ratings, Fitch Ratings said, "elevated private credit borrower leverage and a relative deterioration in private credit terms and conditions during more competitive lending environments are adding to pressures in the credit quality of private credit assets." The majority of the portfolio is in direct lending private credit, but a portion is also in publicly-traded securities of larger corporate issuers.

Persons: SoFi, Vivek Paul, Paul, Goldman, Greg Olafson, David Solomon, Fitch, Lisa Kwasnowski, Blackstone, Kwasnowski, Chuck Failla, it's, Failla, Oppenheimer, Mitchel Penn, Penn, Ares Capital, They've Organizations: Street, Franklin BSP Private Credit Fund, CNBC, Wall, BlackRock, Research, Management, UBS, Blackstone Private Credit Fund, Sovereign Financial Group, Securities and Exchange Commission, Owl, Golub, Ares, Sixth, SEC Locations: DBRS Morningstar's

☆ These stocks are a way for regular investors to buy the private credit boom, Morgan Stanley says
▼ + stars: | 2024-02-20 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Private credit firms can help companies raise money more quickly and with more flexibility than traditional lenders. Many everyday investors can't buy into big private credit funds, but they can get exposure to the space through the stocks of some of the biggest private lenders. Hamilton still sees upside in buying private credit firms, especially one stock. "Our credit and insurance teams had a remarkable year in 2023, with gross returns of 16.4% in the private credit strategies and 13% in liquid credit. There are also private credit firms that trade outside of the U.S., for investors who are able to buy stocks in foreign markets.

Persons: Matthew Bass, Morgan Stanley, Bruce Hamilton, Hamilton, Blackstone, Jonathan Gray, Morgan Stanley's Organizations: Federal Reserve, Companies, Apollo Global Management, APO, KKR, Intermediate Capital Group Locations: Preqin, U.S

☆ How private credit became one of the hottest investments on Wall Street
▼ + stars: | 2024-01-22 | by ( Christian Nunley | ) www.cnbc.com time to read: +1 min

Private credit has quickly become one of Wall Street's most popular investment classes in 2023. It also has roots in the Federal Reserve's monetary policy of holding interest rates near 0% for a decade. You won't find private credit funds on Robinhood. "It comes from pension funds, endowments and foundations, insurance companies, retail investors, sovereign wealth investors," Dwin said. Watch the video above to learn more about what private credit is, how it has changed debt markets and the risks involved.

Persons: Damien Dwin, Dwin Organizations: Apollo, Ares Management, Federal, Fed, Lafayette Capital Locations: Robinhood

According to data firm Preqin, only one emerging markets greenfield renewables fund has raised more than Copenhagen wants to amass, although the 2014 $3.26 billion Guangzhou City Development Industry Fund is focused on China. While a deal to phase out fossil fuels has been hard to agree, more than 60 countries have backed a global agreement to triple renewable energy this decade. The growth in demand for electricity is enormous," he told Reuters, adding that renewable energy was often the cheapest energy source. Founded in 2012, Denmark's Copenhagen manages 26 billion euros ($28.3 billion) of assets and runs 12 funds. Recent development projects include an offshore wind farm in Bangladesh and the first 100% foreign-owned offshore wind energy schemes in the Philippines.

Persons: Niels Holst, Holst, Simon Jessop, Tommy Reggiori Wilkes, Jan Harvey Organizations: Copenhagen Infrastructure Partners, Reuters, Guangzhou City Development Industry Fund, Denmark's, Thomson Locations: DUBAI, Copenhagen, China, Dubai, Britain, Denmark's Copenhagen, Bangladesh, Philippines, Asia, Pacific, America

Now "it's like 'plus-10' and then China," he added, with the latter down to providing half of Industry West's products and being trimmed more. China recorded its first-ever quarterly deficit in foreign direct investment in July-September, suggesting capital outflow pressure. But for the first time in the four decades since China opened up to foreign investments, executives are now also concerned about long-term growth prospects. Primavera Capital founder Fred Hu cites mounting macroeconomic uncertainty, a "murky capital market outlook," and lingering concerns over past regulatory crackdowns on high-growth industries such as technology and education. Despite the challenges, foreign investment flows are not unidirectional.

Persons: Jordan England, Nicholas Lardy, England, I'm, Li Qiang's, Li, Michael Hart, Noah Fraser, Fred Hu, Hu, Joe Cash, Ellen Zhang, Kane Wu, Eduardo Baptista, Don Durfee, Kripa Jayaram, Marius Zaharia, Jamie Freed Organizations: China, Reuters, Peterson Institute for International Economics, LONG, Conference Board, China International, Canada China Business Council, Reuters Graphics, Primavera Capital, Tech, Thomson Locations: China, BEIJING, HONG KONG, Southeast Asia, Eastern Europe, Mexico, England, Florida, Washington, Beijing, consultancies, U.S, Asia, Australia, Europe, Hong Kong

☆ Bain Capital raises $7.1 bln in largest pan-Asia PE fund this year
▼ + stars: | 2023-11-21 | by ( Kane Wu | ) www.reuters.com time to read: +4 min

The logo of Bain Capital is displayed on the screen during a news conference in Tokyo, Japan October 5, 2017. Bain Capital said the firm itself committed $750 million to Bain Capital Asia Fund V, alongside existing and new investors. At $7.1 billion, the fund is Bain Capital's biggest to date for Asia and also the region's largest private equity fund raised this year, according to Preqin data. Bain Capital, which started fundraising in the second half of 2022, had an initial target of $5 billion. Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $180 billion in total assets globally.

Persons: Kim Kyung, you've, David Gross, Gross, Toshiba Corp's, Bain, Kane Wu, Jacqueline Wong Organizations: Bain Capital, REUTERS, Bain Capital Asia Fund V, Bain Capital's, Bain, ., Toshiba, Chindata, Estia, Intelligence, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, U.S, Bain Capital's Asia, . Asia, China, India

Carlyle, which started raising its sixth Asia-focused fund in mid-2022, has bagged less than $3 billion so far, two of the sources said. Investors in private equity companies, known as limited partners, typically reinvest after having booked returns from their previous investments. Private equity firms have made a total of $15.6 billion in exits in Asia, down 82% year-on-year, Dealogic data showed. Sources told Reuters last year Carlyle was aiming to raise $8.5 billion in the pan-Asia fund. Capital allocation to China had been bigger in Carlyle's previous Asia funds, different sources with knowledge of the matter have said.

Persons: Carlyle, Jack Ma's, Harvey Schwartz, Goldman Sachs, Patrick Siewert, Nina Gong, Herman Chang, Kane Wu, Sriram, Xie Yu, Sumeet Chatterjee, Miral Organizations: Carlyle, Investors, Reuters, Yes Bank, Thomson Locations: HONG KONG, MUMBAI, Asia, East, Europe, China, U.S, India, South Korea, Carlyle's, Beijing, Hong Kong, Greater China, Carlyle's Hong Kong, Mumbai

ORLANDO, Florida, Nov 16 (Reuters) - The U.S. high yield bond market is the dog that has rarely barked, never mind bitten, during the Federal Reserve's most aggressive interest rate-raising campaign in 40 years. The 'junk' bond market may also contain less junk than it used to. But changes in the composition of a leading high yield corporate bond index over recent years suggests this might be the case. "The high yield index is a higher quality index than in cycles past," reckons Bill Callahan, investment strategist at Schroders. It is now below 400 bps, and high yield bond investors are the most overweight since January, BofA's latest survey shows.

Persons: Bill Callahan, BofA's, Ashwin Krishnan, Morgan Stanley, Jamie McGeever, Marguerita Choy Organizations: U.S, ICE, Schroders, Bank of, North America, Reuters, Thomson Locations: ORLANDO, Florida

Signs of Chinese yuan and U.S. dollar are seen at a currency exchange store in Shanghai, China August 8, 2019. "I hope over time, we will be more than just a Middle East investor in China. I want us to be perceived also as a local Chinese investor," Ben-Gacem told Reuters, adding that the final fundraising size will depend on investor appetite and market conditions. Some private equity and venture funds are stepping up efforts to raise yuan funds. ($1 = 7.2884 Chinese yuan renminbi)Reporting by Roxanne Liu and Kane Wu; Editing by Sumeet Chatterjee and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Investcorp, Investcorp's, Hazem Ben, Gacem, Ben, Mubadala, LSEG, China Everbright, Fung, Roxanne Liu, Kane Wu, Sumeet Chatterjee, Gerry Doyle Organizations: REUTERS, Rights, Reuters, Electronics, Middle, Rongsheng Petrochemical, CYVN Holdings, NIO Inc, Gulf Cooperation Council, Thomson Locations: Shanghai, China, Rights BEIJING, Bahrain, East, Abu Dhabi, Investcorp, Shandong, Tengzhou, Middle East, Gulf, U.S, Hong Kong, Chinese, Guangdong, Macau

Global fundraising for alternative investments, which include private equity, dropped 21% to $972 billion in the year to Nov. 1 from the same period a year earlier, according to research firm Preqin. As their money becomes more vital, Gulf funds are encouraging private equity firms to invest locally in plans for a post-oil future. "Building a partnership based on reciprocity is nowadays necessary to succeed in the Gulf," said Francois Aissa-Touazi, co-global head of investor relations at private equity fund Ardian. Private equity funds are getting the message. In turn private equity funds can use these pools of capital to fund large private debt or equity transactions, according to Tikehau Capital's Deputy CEO, Frédéric Giovansili.

Persons: Amr Alfiky, Francois Aissa, Ardian, Touazi, Brookfield, Bruce Flatt, thronged, Flatt, Mohammed Al Jadaan, Anthony Diamandakis, Rishi Kapoor, Investcorp, Tikehau, Frédéric Organizations: United, United Arab Emirates, REUTERS, Rights, Global, Investment Initiative, Public Investment Fund, Brookfield, Tikehau, CVC, Reuters, Thomson Locations: Abu Dhabi, United Arab, Rights RIYADH, LONDON, Davos, Saudi, Saudi Arabia, Riyadh, Dubai, Brookfield, Bahrain

☆ Hollywood insiders are bracing for M&A activity to make a comeback, as 10 experts reveal the deals they're predicting
▼ + stars: | 2023-10-17 | by ( Reed Alexander | Lucia Moses | ) www.businessinsider.com time to read: +12 min

"The unknown is hard to transact in," Sam Powers, the global head of technology, media, and telecommunications for Bank of America, told Insider. Microsoft's $69 billion acquisition of Activision , which was completed Thursday, has also put media and tech M&A back in the spotlight. "People have been holding their breath in nervous anticipation" about the idea of tech buying big media , one investor told Insider. Private-equity bets on media and Hollywood have seen mixed resultsPrivate-equity firms may have the cash to finance major media acquisitions, but they're reckoning with market volatility. Are you a Hollywood insider?

Persons: Hollywood dealmakers, Jonathan Handel, Sam Powers, Bob Iger, —, Byron Allen, Greg Doherty, Iger, Disney's, Byron Allen —, Allen, Disney, it's, Handel, It's, you've, Reese Witherspoon, Dave Kotinsky, Moonbug, Reese Witherspoon's, Jeff Zucker, Abu, Tom Staggs, Kevin Mayer, Lucia Moses, Reed Alexander Organizations: Hollywood, Puck News, Bank of America, SAG, Writers Guild of America, Disney, ESPN, Activision, Byron Allen The Weather, Wall Street shareholders, Bureau of Labor Statistics, Hulu, ABC, Nexstar Media Group, Allen Media Group, Weather, Lionsgate, Starz, Paramount, BET, Warner Bros, Games, Disney Digital Network, Maker Studios, Observers, Comcast, Paramount Global, Tech, MGM, Microsoft, Netflix, Apple, RedBird Capital Partners, RedBird IMI, Private, SP, G Global Market Intelligence, Bloomberg, Media, Apollo Global Management, Yahoo Locations: Hollywood, Blackstone, Abu Dhabi, lmoses@insider.com, ralexander@insider.com

Private credit players like HPS Investment Partners and Blue Owl Capital (OWL.N) have a workaround, but it could prompt a painful hangover. Cashed-up private credit funds offered sums previously unseen outside of traditional bank financing on riskier deals. Private credit assets swelled 460% to over $1.4 trillion between 2010 and the end of 2022, Preqin says. Reuters GraphicsThe attraction of “mezz” and similar exotic lending isn’t just that it helps private credit source new deals. In 2021, that dynamic meant private loans briefly became cheaper than liquid, tradable loans – flying in the face of financial orthodoxy.

Persons: –, Zendesk, Preqin, LSEG, HPS, Goldman, Blackstone, Angelo Gordon, dealmaking, George Hay, Oliver Taslic Organizations: Reuters, HPS Investment Partners, Owl, Blackstone, Apollo, Treasury, Private, Management, Partners, Reuters Graphics Reuters, Sabre, Companies, Wolf, ADC Therapeutics, Equity, Thomson Locations: EBITDA

REUTERS/Carlos Osorio Acquire Licensing RightsTORONTO, Oct 10 (Reuters) - Bank of Nova Scotia (BNS.TO) and Sun Life Financial's (SLF.TO) asset-management division are partnering to tap into the demand from wealthy Canadians looking to invest in private credit, the firms said on Tuesday. The move comes as private credit becomes one of the fastest growing and most attractive private asset classes, forecast to grow to $2.3 trillion in assets globally by 2027, according to Preqin data. The private credit market is less mature in Canada than in the U.S. and Europe but is slowly gaining attention. In a recent survey taken out by Canadian firm Ninepoint Partners, nearly two-thirds of financial advisors said they expect to increase their client or model portfolios' exposure to private credit in the next 12 months. Scotiabank Global Wealth Management is the third-largest business of its kind in Canada with C$631 billion of assets globally, while SLC Management manages $361 billion in assets.

Persons: Carlos Osorio, Glen Gowland, Nivedita Balu, Marguerita Choy Organizations: The Bank of, Scotiabank, REUTERS, Rights, Bank of Nova, SLC Management, Sun, Wealth Management, Ninepoint Partners, Scotiabank Global Wealth Management, Thomson Locations: The Bank of Nova Scotia, Toronto , Ontario, Canada, Bank of Nova Scotia, Sun, U.S, Europe, Toronto

☆ US venture firm GGV Capital to separate China business amid geopolitical tension
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

Sept 21 (Reuters) - U.S. venture capital firm GGV Capital said on Thursday it plans to split its business into two, with one focused on Asia and the other on the U.S., as political pressure mounts on American companies to limit investments in Chinese technology. This comes after Sequoia Capital in June said it is splitting its businesses in China as well as India and Southeast Asia into two independent firms. Venture capital firm GGV said the separation of its Singapore arm that would solely focus on investing in China is expected to finish by the first quarter of next year. GGV Capital, which has around $9 billion in assets under management, has backed companies such as Airbnb, ByteDance and Alibaba to establish itself as a cross-border venture capital company. China-focused firms only raised $5.5 billion in U.S. dollar-denominated funding in the first half of the year, Preqin data showed, a far cry from its peak of $27.6 billion raised in the same period in 2021.

Persons: GGV Capital, GGV, Alibaba, Seher, Shweta Agarwal Organizations: GGV, Sequoia Capital, U.S, Wall Street Journal, GSR Ventures, Walden International, Qualcomm Ventures, Venture, ., Thomson Locations: Asia, China, India, Southeast Asia, Singapore, Bengaluru

☆ China VCs have a big problem — and it’s not just a drop in U.S. investor appetite
▼ + stars: | 2023-09-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Among China-focused investment firms, only four U.S. dollar-denominated venture capital funds established between 2015 and 2020 have at least returned investors all the money they put in. Alternative assets include venture capital, but not publicly traded stocks and bonds. Preqin doesn't track every single China VC fund, and only included those with data as of the end of last year or more recently. In the world of early-stage investing, "limited partners" (typically institutions) give money to "general partners" (venture capital funds) to invest into startups. The outperforming funds were: Loyal Valley Capital Advantage Fund I, Hillhouse Fund II, Oceanpine USD Fund I and HighLight Capital USD Fund II.

Persons: Preqin, —, Reuben Lai, “, Reuben Lai Preqin, they'd, Alex Shum, Preqin's Lai, there's, Lai, Jinjian Zhang, Vitalbridge, Zhang Organizations: Nurphoto, Getty, ., China VC, CNBC, Fengshion, Investment Fund, LYFE Capital, GGV, BioTrack, U.S, Capital, II, Sequoia, Sequoia Capital China Growth Fund, TPG NewQuest Locations: Shenzhen, China, BEIJING, That's, Preqin, Greater China, Beijing, IPOs, Vitalbridge, Shanghai

Fundraising and deal-making have dropped sharply at European private debt funds, new data shows. Faisal Ramzan, a partner at law firm Proskauer Rose who advises private credit funds, said he was not seeing default. "There's plenty of dry powder," said Fidelity International's head of private credit strategies Michael Curtis, referring to capital raised already. Joanna Layton, managing director of European private credit at Alcentra, one of Europe's largest private debt managers, added there was "no rush" to deploy capital. High rates have also made private credit less appealing to institutional investors, analysts said.

Persons: Henry Nicholls, Francesco Sandrini, BoE, Andrew Cruickshank, Cruickshank, Pictet, Patrick Marshall, Faisal Ramzan, Proskauer Rose, Michael Curtis, Joanna Layton, Mark Brenke, Ardian, Chris Sier, Sier, Dhara Ranasinghe, Catherine Evans Organizations: City, REUTERS, Reuters Graphics Reuters, The Bank of, European Central Bank, Graphics, Deloitte, Fitch, Federated Hermes, Fidelity International, ClearGlass, Thomson Locations: London's, London, Britain, The Bank of England

The Chinese national flag is seen in front of the financial district Central on the Chinese National Day in Hong Kong, China October 1, 2022. Most were on the fund's private equity team and were informed early last month, according to two of the people. CPP, which employs more than 150 people in Hong Kong, its Asia hub, declined to comment. The Ontario Teachers' Pension Plan (OTPP) closed down its China equity investment team based in Hong Kong in April, Reuters has reported. There have been $3.2 billion worth of acquisitions of firms in China by private equity so far this year.

Persons: Tyrone Siu, Gina Raimondo, Canada's, Michel Leduc, Julie Zhu, Kane Wu, Edwina Gibbs Organizations: REUTERS, Investments, U.S, . Commerce, The Ontario Teachers, Reuters, Caisse, Financial Times, Thomson Locations: Central, Hong Kong, China, HONG KONG, Asia, Canada, U.S, Washington, Shanghai

The company established the Allianz Global Diversified Private Debt Fund (AGDPDF) II in Luxembourg in mid-June, company filings show. Money managers are vying for a slice of the growing private credit market, which emerged in the aftermath of the 2008 financial crisis and is currently estimated to have assets of $1.5 trillion. Private credit funds are increasingly competing with banks, including for financing large company buyouts. The fastest escalation in borrowing costs in decades has posed a test for private credit but so far defaults by borrowers have been limited. Rather than lending directly, the Allianz Global Diversified Private Debt Fund invests in other credit funds and also makes co-investments.

Persons: Michaela Rehle, Proskauer, Pablo Mayo, Elisa Martinuzzi, Jane Merriman Organizations: Allianz, REUTERS, Allianz Global Investors, Allianz Global, Debt Fund, Fund, Reuters, Pablo Mayo Cerqueiro, Thomson Locations: Unterfoehring, Munich, Luxembourg, London

☆ Many family offices suffer from 'group think' investing, says VC leader Tim Draper
▼ + stars: | 2023-08-17 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Even as family offices explode in size and number, they're increasingly prone to "group think" when it comes to investing, according to Tim Draper, a leader in early-stage venture capital. "There is a little bit of group think that happens in family offices," said Draper, founder of Draper Associates . "One leading family office says 'we're going to do middle market buyouts' and then they all do it. Family offices in recent years have quickly piled into certain asset classes, like private credit, direct deals and secondary private-equity, as they follow larger family offices. "In some ways we are are a family office, its just a decentralized family office."

Persons: they're, Tim Draper, Draper, Jesse, Adam, Jesse Draper, Draper's, Tim Organizations: Draper Associates, Skype, Ventures

☆ China VC slump is set to drag Asia-Pacific fundraising down to a decade low
▼ + stars: | 2023-07-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Jason Lee | ReutersBEIJING — China-focused venture capital and other private investment funds have had a slow start to the year and are set to drag down Asia-Pacific fundraising to the lowest in 10 years. Alternative assets include venture capital, but not publicly traded stocks and bonds. watch nowChina-focused venture capital funds raised $2.7 billion in the second quarter, a drop of more than 50% from the first quarter, Preqin said. That dragged down overall VC fundraising in Asia-Pacific to $4.5 billion in the second quarter, the lowest in at least five years, the report said. In China, new rules for private investment funds are set to take effect Sept. 1, with a stated goal of "guiding" venture capital investment for long-term investment in "innovative startups."

Persons: Jason Lee, Angela Lai, Preqin, Andrew J, Sherman, Brown Rudnick, Lai Organizations: Reuters, U.S, D.C, CNBC, Partners Locations: Reuters BEIJING — China, Asia, Pacific, Preqin, China, U.S, Sherman , Washington, India, Japan

The gathering comes at a time when global investors and banks are warning that confidence is waning in China's economic outlook. Such a meeting, with a clear agenda to discuss challenges facing global fund managers investing in China, is rare, the three sources said, and reflected Beijing's keenness to shore up confidence among foreign investors. Weighed down by strict COVID measures, China's economy grew just 3% in 2022, one of its worst showings in decades. The meeting is organized by China's fund regulator Asset Management Association of China (AMAC). U.S. dollar-denominated fundraising by China-focused venture capital and PE firms this year also had its weakest first half year in the past decade, data from industry tracker Preqin showed.

Persons: Fang Xinghai, didn't, Andrew Collier, Premier Li Qiang, Xie Yu, Julie Zhu, Selena Li, Kim Coghill Organizations: U.S ., Reuters, Canada's, Ontario, China Securities Regulatory Commission, Management Association of China, ., Orient Capital Research, Ant, Premier, Wednesday, Thomson Locations: HONG KONG, Beijing, U.S, China, Taiwan, Hong Kong

The hectic pace of activity comes after private credit funds targeting Asia jumped 76% last year to a record $11.2 billion, driven by both regional and India-dedicated strategies, according to Global Private Capital Association. As large global sponsors continue to invest into multi-billion dollar Asia-focused credit funds such as Apollo, Blackstone and KKR, the Asian private credit industry is set for further boom, Robert Wright, partner in law firm Baker McKenzie, said. The string of new private credit funds come against the backdrop of startups facing the threat of having down rounds. Nevertheless, alternative financing such as private credit does not come cheap, industry experts warned. Private credit firms usually arrange loans, with assets secured, on a floating rate basis.

Persons: GPCA, Singapore's SeaTown, Europe's 21yield, Nicholas Mairone, Robert Wright, Baker McKenzie, SeaTown, Rakshat Kapoor, Camille Krejci, Parthiv Rishi, Sidley Austin, Siew Kam Boon, Yantoultra Ngui, Sumeet Chatterjee Organizations: Asia, SINGAPORE, Global Private Capital Association . Industry, Silicon Valley Bank, Blackstone, KKR, Reuters Graphics, Bain Capital, India's, Mahindra Bank, Hong Kong's ADM, SoftBank Investment Advisers, Reuters, Prosus NV, Thomson Locations: Asia, India, Singapore, United States, North America, Silicon, Pacific, Japan, Hong Kong

☆ Hollywood's love affair with private credit could be a recipe for disaster
▼ + stars: | 2023-06-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Private credit goes Hollywood. A town that loves a good story has a leading role in the biggest one on Wall Street. So in that vein, private credit filling the gap left by banks reconsidering their lending decisions is great. Ratings agency Moody's has already raised the alarm, suggesting defaults among borrowers in private credit will rise. But I think it's fair to say that industry isn't as cut and dried as others private credit might be lending to.

Persons: Dan DeFrancesco, fanny, —, we've, Maks, it's, Insider's Reed Alexander, Rebecca Ungarino, Reed, Rebecca, Moody's, Consuelo Vanderbilt Costin, Bryan Griffin, James, Jim, Crown, Henry Crown, Junius Myer Schine, David Sinclair, Jeffrey Cane, Hallam Bullock Organizations: Credit Suisse, Wall, Investment, Hollywood, Creators, The Vanderbilt, UBS, JPMorgan, Fidelity, Wall Street, LinkedIn Locations: Hollywood, Swiss, Aspen , Colorado, Silicon, Jersey Shore, New York, London

☆ How 5 private-credit players, from Apollo to Carlyle, are investing in sports, media, and entertainment as content costs soar and a writers' strike paralyzes Hollywood
▼ + stars: | 2023-06-26 | by ( Reed Alexander | Rebecca Ungarino | ) www.businessinsider.com time to read: +4 min

Asset managers big and small, from Carlyle and Apollo to Serengeti and Shamrock, are pushing into the space. The entertainment industry's love affair with private credit is one of the hottest storylines in Hollywood right now. Credit lenders are saying "lights, camera, action" to the idea of deploying dollars into movies, TV, and live sports. Insider previously reported that analysts were warning of the risks that could mount across private credit as rates rise. Insider gathered details on asset managers' lending strategies in Hollywood, media, and sports.

Persons: Carlyle, Christopher Marinac, Janney Montgomery Scott, Blackstone, Moody's, Marinac, JPMorgan Chase Organizations: Bank of America, Citigroup, JPMorgan Locations: Shamrock, Hollywood, Republic

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