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☆ These stocks could get a pop if they go in to S&P 500 index following rule change
▼ + stars: | 2023-04-18 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The change applies to the S & P Composite 1500 Index and its components, including the S & P 500 , the world's largest stock benchmark and the one with the widest following. It forces buying from every passive index fund manager whose fund tracks the S & P 500, S & P Midcap 400 or Smallcap 600, boosting the stock price in the short term. Evercore ISI is bullish on the prospect for inclusion in the S & P 500. Alternative asset managers Ares Management and Blackstone have also became eligible for S & P 500 inclusion. "Excluding BX from the S & P 500 has hurt the index's performance... and BX also yields a dividend that is ~2x the average S & P 500 company."

☆ Why big investors like Carlyle and Ares are zeroing in on Hollywood and sports deals — and driving private credit in media to new highs
▼ + stars: | 2023-03-28 | by ( Rebecca Ungarino | Reed Alexander | ) www.businessinsider.com time to read: +7 min

And Ares raised $3.7 billion for a fund last fall geared specifically toward sports, media, and entertainment investments across private debt and private equity. Unlike private equity investing, where managers take stakes in companies or buy them, private credit investors lend to businesses and make money on interest payments. (Private investment firm KKR's media, entertainment, and sports portfolio includes Insider parent company Axel Springer.) Carlyle's $146 billion credit arm has also provided capital to Clair, a media tech company that specializes in live production services and audio products. The strategists said driving that uptick are private credit defaults that include so-called softer forms of default, like breaching a loan's terms and conditions, along with private credit portfolio companies having generally lower ratings and less diversified businesses.

☆ Snap launches enterprise division to help businesses build AR features
▼ + stars: | 2023-03-23 | by ( Sheila Dang | ) www.reuters.com time to read: +2 min

March 23 (Reuters) - Snap Inc (SNAP.N), owner of photo messaging app Snapchat, launched a new division on Thursday that will help other companies build augmented reality features for their websites or apps. The division called AR Enterprise Services (ARES) marks the first time Snap will sell to business customers its AR technology, which can enhance photos and videos of the real world with computerized images, said Jill Popelka, head of ARES, in an interview. Certain arrangements with clients could allow Snap to earn a cut of product sales driven by Snap's AR tools, she added. Artificial intelligence is also helping advance Snap's AR capabilities. The company is using AI to take a two-dimensional image and make it appear 3D without the need to first build a 3D model.

☆ A 27-page report breaks down where the money is flowing in sports tech and the investors to watch. Here were 5 key takeaways.
▼ + stars: | 2023-03-22 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +7 min

Investment bank Drake Star broke down dealmaking in 2022 and what it means for the year ahead. Sports tech M&A activity in 2022, from Drake Star's Global Sports Tech Report 2022. Drake Star Global Sports Tech Report 2022The fourth quarter saw a surge in M&A volume with 67 deals, the most in the sector's recent history. More sports tech companies could explore public listings in the second half of the year. "Some of the IPO ready sports tech companies are expected to explore IPO/SPAC listings."

Employees have been working around the clock to onboard as many startups as possible in the wake of the implosion of Silicon Valley Bank. Silicon Valley Bank, which had more than $175 billion in deposits and served nearly half of US VC-backed startups, was taken over by US regulators on March 10. "That said, I am worried that this bias towards a Big Four bank is a double-edged sword," Shekar added. "SVB did not think like a big bank. They could understand your operating plan when a big bank would balk at it," Ashley Tyrner, CEO and founder of FarmBoxRX, told Insider.

☆ Investors tiptoe back into US bank stocks, regulators probe SVB collapse
▼ + stars: | 2023-03-14 | by ( Chris Prentice | ) www.reuters.com time to read: +6 min

March 14 (Reuters) - Bruised U.S. bank stocks regained some ground on Tuesday, as a sell-off sparked by Silicon Valley Bank's collapse gave way to bargain-hunting by investors hopeful that efforts to shore up confidence would avert a wider financial crisis. The S&P 500 regional banks index (.SPLRCBNKS) rebounded 1.4%, leaving it with a 26% loss over the past five sessions. Investors worry about the health of smaller banks, the prospect of tighter regulation and authorities' preference for protecting depositors before shareholders. Reuters Graphics Reuters GraphicsINVESTIGATIONSAs markets adjusted to the impact of SVB's collapse, regulars turned their focus to the circumstances around the bank's collapse. Officials are also examining stock sales by officers of SVB Financial Group, which owned the bank, the WSJ reported, citing people familiar with the matter.

☆ Private equity firms Apollo and KKR among those reviewing Silicon Valley Bank loans
▼ + stars: | 2023-03-14 | by ( Seema Mody | ) www.cnbc.com time to read: +1 min

People wait outside the Silicon Valley Bank headquarters in Santa Clara, CA, to withdraw funds after the federal government intervened upon the bank's collapse, on March 13, 2023. Two of those people said Apollo may be interested in acquiring a piece of the business at par. Private equity firms Apollo Global Management and KKR are among the parties reviewing a book of loans held by Silicon Valley Bank, people familiar with the discussions told CNBC. Previously, Bloomberg reported that several private equity firms have been conducting due diligence on the loan assets. That report, which cited several people with knowledge of the talks, said Apollo, Ares Management , Blackstone , Carlyle Group and KKR were among those reviewing a potential deal.

☆ Private equity giants including Apollo, Blackstone eye SVB loan book- reports
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] Customers wait outside as an employee enters the Silicon Valley Bank branch office in downtown San Francisco, California, U.S., March 13, 2023. REUTERS/Kori Suzuki/File PhotoMarch 14 (Reuters) - Apollo Global Management Inc (APO.N), Blackstone Inc (BX.N) and KKR & Co Inc (KKR.N) have expressed interest in a book of loans held by Silicon Valley Bank (SVB), Bloomberg News reported on Tuesday, citing people familiar with the matter. Buyout giants Ares Management (ARES.N) and Carlyle Group (CG.O) are also looking to buy the loan book, the Financial Times reported, citing people familiar with the matter. The surge in interest in the book follows the tech lender's failure last week to raise equity to plug a $1.8 billion hole after selling its $21 billion portfolio of securities at a loss. On Monday, SVB said it was planning to explore strategic alternatives for its businesses, including holding company SVB Capital and SVB Securities.

☆ How shadow bankers are already emerging as winners in the SVB collapse
▼ + stars: | 2023-03-14 | by ( Rebecca Ungarino | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

But the momentum already behind the secretive private credit space has picked up — fast. He was witnessing a new willingness from borrowers to turn first to private credit, a market that has grown yet generally remains more opaque than its public-market counterparts. "Borrowers used to look at these banks and say, 'Look, the banks, they've been around forever. The private lenders say that privacy is all part of the pitch. Money managers smell opportunityThe momentum already behind the secretive private credit space has gained steam as the SVB collapse pushes companies to consider alternate sources of debt and, on the other side, private credit managers seek out new targets.

☆ SVB debacle sparks rush to defensive options on fears of contagion
▼ + stars: | 2023-03-10 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

A California regulator shut Silicon Valley Bank on Friday and appointed the Federal Deposit Insurance Corporation as receiver, according to the agency's statement. With many stocks in the sector falling sharply on Friday, traders rushed in to defensive bets. SVB is battling cash burn due to declining deposits from startups struggling with a venture capital funding drought. While investors had largely shrugged off Silvergate’s troubles as strictly crypto-related, "(SVB Financial Group) was a giant wake-up call about the effects of rising rates and an inverted yield curve," Sosnick said. Reporting by Saqib Iqbal Ahmed in New York Editing by Ira Iosebashvili and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Ken Griffin just keeps winning
▼ + stars: | 2023-03-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

No, 4.1 billion represents the number of dollars Ken Griffin made from his hedge fund, Citadel, in 2022 alone. Griffin made more money in one hour than the average American makes in their lifetime! Oh, and one more thing: That's not even all the money Griffin earned in 2022! I've said before you could make the case for Griffin being the most powerful person on Wall Street. And check out this fascinating profile from Insider's Dakin Campbell on Ken Griffin.

☆ Private equity firms lend less as demand cools
▼ + stars: | 2023-03-03 | by ( Chibuike Oguh | ) www.reuters.com time to read: +4 min

The amount of loans disbursed by direct lenders so far in 2023 has not shown any pickup, the Refinitiv data shows. Also weighing on deal volumes is the cost of borrowing from private equity firms. This has dampened demand for loans from private equity firms. For their part, private equity firms have also become more risk-averse when it comes to lending, as the economic slowdown and sticky price inflation erode the credit worthiness of some borrowers. To be sure, major deals using private equity firms as lenders are still getting done as banks have continued their retrenchment from risky debt.

Frederick, the President of Howard University, at a press conference February 29, 2016, in the university's Founder's Library. Frederick is the 17th president of Howard University, one of 107 historically Black colleges and universities in the U.S., serving some 11,000 students across its undergraduate, graduate, and professional student programs. Frederick is the distinguished Charles R. Drew Professor of Surgery at the Howard University College of Medicine. He is also a practicing cancer surgeon at Howard University Hospital, where he continues to see patients and perform surgeries. CNBC: The Department of Defense recently announced its selection of Howard University as the 15th university, and first HBCU, to lead a University Affiliated Research Center.

LONDON, Feb 22 (Reuters) - Buyout financier Ares Management Corp (ARES.N) has been offering funds to support a takeover of Manchester United (MANU.N), three sources familiar with the matter told Reuters. It is the latest U.S. asset manager to seek a financing role in the battle for the English soccer club. It was unclear whether Ares has been looking to finance bids for Manchester United through that fund, which has already invested in Spain's Atletico de Madrid soccer club and Inter Miami CF, or another vehicle. Last Friday, Manchester United received indicative offers from bidders including chemicals firm INEOS, led by long-time fan Jim Ratcliffe, and Qatari Sheikh Jassim Bin Hamad Al Thani. INEOS wants to fund an offer without external financing, but could consider bringing in a minority equity partner, one source said.

☆ HBCU students diversify alternative investing with the help of Wall Street’s biggest firms
▼ + stars: | 2023-02-17 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +1 min

The AltFinance Fellowship is the brainchild of top alternative investment firms Ares Management, Apollo Global Management and Oaktree Capital Management. Selected students will also receive a scholarship of up to $10,000 if they're sophomores, while juniors and seniors can receive up to $15,000. Partnering schools include Clark Atlanta University, Howard University, Morehouse College and Spelman College. The private equity, private credit and commercial real estate industry has about $10 trillion in assets under management, according to data provider Preqin. "This is not a charitable activity," Howard Marks, co-chairman of Oaktree Capital Management, told CNBC.

☆ Buyout barons reach deep into their bags of tricks
▼ + stars: | 2023-02-15 | by ( Jonathan Guilford | ) www.reuters.com time to read: +7 min

NEW YORK, Feb 15 (Reuters Breakingviews) - Debt necessity is proving to be the mother of private equity invention. With the cheap borrowing that fueled record-breaking years of leveraged buyouts gone, firms are digging deeper into their bags of tricks. Private equity firm Silver Lake, which bought a stake alongside the IPO, said it might take control. Besides putting private equity firms into weaker negotiating positions, the competing incentives also threaten conflicts of interest with limited partners. ...THERE’S A WAYIf the U.S. Federal Reserve avoids engineering a recession, private equity should be able to revert to its tried-and-true formula soon enough.

☆ HBCU students are diversifying Alternative Investing with the help of Wall Street's biggest firms
▼ + stars: | 2023-02-01 | by ( Frank Holland | Caitlyn Freda | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHBCU students are diversifying Alternative Investing with the help of Wall Street's biggest firmsCNBC's Frank Holland reports on Alt-Finance, a unique fellowship introducing HBCU students to alternative investing, created by Ares Capital, Oaktree Capital and Apollo Global Management.

☆ JPMorgan begins private lending drive with $10 billion - source
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

Jan 19 (Reuters) - JPMorgan Chase & Co (JPM.N) has set aside at least $10 billion to back its foray into the world of direct lending, a person with knowledge of the matter told Reuters on Thursday. The Wall Street titan's move into the market is likely to put it head to head with established sector heavyweights such as Ares Management Corp (ARES.N) and Apollo Global Management (APO.N). Last week, JPMorgan Chief Financial Officer Jeremy Barnum told investors the bank was "absolutely open for business" in leveraged lending even as other U.S. banks are expected to book significant losses on risky loans underwritten last year. JPMorgan Asset Management has in recent years separately expanded its private credit platform unit, which targets opportunities in the direct lending segment, with plans to expand into other private credit strategies in the future. Reporting by Manya Saini in Bengaluru and Saeed Azhar in New York; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Hope Global Forums rallies business leaders for financial literacy, ‘so that everyone learns the language of money’
▼ + stars: | 2022-12-26 | by ( Frank Holland | In | ) www.cnbc.com time to read: +4 min

"Our goal is that by the time your kids grow up, financial literacy is in school — kindergarten through college — as a requirement so that everyone learns the language of money." To that end, Operation Hope in 2021 launched Financial Literacy for All, a joint initiative with businesses such as Walmart, Bank of America, Disney and many others. Ambassador Andrew Young were among the business leaders joining Bryant on stage at the Hope Global Forums in Atlanta to talk about silver rights and the power of financial literacy. "John Hope Bryant and I have come together to form Financial Literacy for All to take on financial education. Operation Hope is focused on wealth inequality in the Black community and communities of color, and narrowing that gap.

LONDON/NEW YORK, Dec 22 (Reuters Breakingviews) - Private credit has grown into a $1.3 trillion mountain over the last decade. When banks stopped lending to private equity firms in 2022, private credit firms stayed active. High-yield loans issued by banks and then sold on to investors in the market fell 80% in the first nine months of 2022, according to Fitch Ratings. Specialist private lenders, however, had some $390 billion of spare capital to spend, according to Preqin data. Investors who funded private lenders may be in for a shock.

☆ Analysis: Private debt markets face reality check as companies grapple with rising rates, recession
▼ + stars: | 2022-12-20 | by ( Chiara Elisei | ) www.reuters.com time to read: +5 min

An era of ultra-easy cash from central banks lured investors into private credit, attracted by juicy returns in the high-single to low-double-digits. The private debt market has expanded to $1.4 trillion, up from $250 billion in 2010, according to data provider Prequin, with funds including Ares, Blackstone (BX.N) and KKR (KKR.N) holding big positions. Corporate default risks are rising, making investors think twice about holding riskier private debt. A Private Credit Default Index by law firm Proskauer showed a default rate of 1.56% on U.S. dollar-denominated deals in the third quarter, the first notable increase over the past 18 months. "While the default rate is likely to go up, I wouldn't expect to see a significant spike in 2023," he added.

☆ Revlon and key creditors strike deal, April bankruptcy exit
▼ + stars: | 2022-12-19 | by ( Dietrich Knauth | ) www.reuters.com time to read: +1 min

Dec 19 (Reuters) - Bankrupt cosmetics giant Revlon Inc on Monday reached a restructuring agreement which would turn over ownership of the company to its lenders and wipe out current shareholders. Revlon now has the support of a faction of critical secured lenders and its unsecured creditors, who had previously been at odds during the company's bankruptcy. The restructuring agreement requires Revlon to get court approval on April 3, which would allow the company to exit bankruptcy on April 17, 2023. Revlon has said it is exploring a sale of the company as a potential exit from Chapter 11. The restructuring agreement allows Revlon to pursue a sale, as long as the offer is high enough to fully repay the Brandco lenders.

☆ Meet the 20 private-credit power players shaping the $1.2 trillion asset class as it faces uncharted waters
▼ + stars: | 2022-12-16 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +2 min

The expansion of private credit underscores the growing influence of the market's dealmakers. Insider has pinpointed influential private-credit executives and top dealmakers to watch. Private-credit markets, overall, have fared better than their public counterparts this year. Some of these top officials run investment vehicles known as business-development companies, which often invest in private companies' debt and have grown common across the credit-investing ecosystem. Insider has pinpointed influential private-credit executives and top dealmakers to watch.

☆ These 20 execs are powering the $1.2 trillion private-credit market
▼ + stars: | 2022-12-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

So who's behind this mysterious market that has now swelled to $1.2 trillion and accounts for more than 20% of the aggregate capital leverage companies borrowed? Insider's Rebecca Ungarino mapped out 20 of the most powerful people in the space from firms like Sixth Street, Golub Capital, Ares, and Blackstone. When PE firms start hunting for deals, these are the tech companies they'll target. Some tech companies are instructing managers to label low performers on their teams, potentially signally more cuts at some point in 2023. Turns out, having one room dedicated to booze isn't enough for the ultra-wealthy, The Wall Street Journal reports.

☆ We're raising our standards around rates of return for the underwriting process, says David Kaplan
▼ + stars: | 2022-12-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're raising our standards around rates of return for the underwriting process, says David KaplanDavid Kaplan, Ares Management co-founder and director, joins 'Squawk on the Street' to discuss the change in the underwriting process and more.

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