Egan-Jones weighs in ahead of XFLT trustees vote on Octagon removal
Shareholders of XAI Floating Rate & Alternative Income should not support Octagon's removal as the fund's sub-adviser, Egan-Jones said, citing limited benefits to shareholders.
Asset management
Jupiter fund cut Treasuries to zero as inflation risks rise
Signs of "overheating" in the U.S. economy mean interest-rate hikes are more likely there than in Europe, dimming the appeal of Treasuries.
Northern Trust shares jump on report of BNY merger interest
The CEOs of Bank of New York Mellon and Northern Trust have had at least one discussion about a potential merger, according to a Wall Street Journal article. On Monday, a spokesperson for Northern Trust said the bank "is fully committed to remaining independent."
TCW’s Koch says firm is entering private real estate debt market
TCW is launching a real estate debt strategy as it seeks to grow its alternatives business and compete with other money managers moving into the $1.6 trillion private credit industry. The firm, which oversees more than $200 billion, will provide privately arranged debt to borrowers for core real estate and value-add credit, Chief Executive Officer […]
Wamco key bond fund falls below $10 billion as clients flee
Clients have been yanking their cash since the Pasadena, California-based company said on Aug. 21 that Leech was going on leave after he received a notice from the SEC that it may recommend enforcement action.
Pagaya Technologies agrees to buy asset manager Theorem
With Theorem, Pagaya's fund management business is expected to grow to more than $3 billion of capital
Janus Henderson launches ETF for broad U.S. securitized market
A robust selection of securitized products, including ABS, CMBS, CLOs, and agency and non-agency MBS, will be included in the new fund.
CQS explores selling parts of $15 billion fund business
The U.K. manager's assets have declined from peak of nearly $20 billion before a spate of 2020 losses.
Rising ‘Anti-ESG’ Sentiment in US Is Impacting Funds, HSBC Says
Nearly a quarter of respondents in North America this year said sustainability is a primary or secondary objective, compared to 37% who said the same last year, according to an HSBC survey of professionals in roles related to ESG decision making.
Blackstone profit slides as dealmaking hit by market tumult
It has to wrestle with how the Federal Reserve's rate increases are crimping dealmaking, raising the cost of borrowing and ending a period of rapid growth.
Weekly Wrap: Libor transition goes on even with SOFR term rate uncertain
Deals, trends and research in structured finance and asset-backed securities for the week of March 19-25
Apollo’s Rowan makes imprint felt with $11 billion Athene deal
The Athene acquisition completes a process that Rowan – who succeeds Black as CEO no later than July – started in 2009, when he created the annuity business so that it would send vast sums of cash to Apollo for investments
Wells Fargo sheds its asset manager as Scharf reshapes bank
Wells Fargo plans to sell its asset management business to two private equity firms, part of Chief Executive Charlie Scharf's efforts to dump nonessential operations and help the bank emerge from years of scandals.
Ameriprise, CI eyeing Wells Fargo’s asset management arm
Wells Fargo, reeling from years of scandals, is unloading several businesses as it seeks to simplify its structure. The sale of the asset management unit could fetch more than $3 billion, according to industry sources.
Wells Fargo is said to discuss sale of its asset management arm
Wells Fargo is exploring the sale of its asset management unit, a business that could fetch more than $3 billion, according to a person briefed on the matter.
Apollo board to examine Leon Black’s ties to Jeffrey Epstein
Apollo Global Management Inc. board members are investigating co-founder Leon Black’s ties to disgraced financier Jeffrey Epstein after more information emerged this month about their longtime business dealings.
CIFC names new head of global research
Veteran debt and equity analyst David Walker steer investment research for CIFC's $26 billion of assets under management, most of which are in long-term vehicles.
By
Glen Fest
Packaged by AI, managed by AI
Banks and lenders have made inroads in analytics and automation with machine-learning technology. Will asset management follow suit?
By
Glen Fest
Oaktree plans methodical cleanup of Fifth Street BDCs
The unwinding and rebuilding of the struggling portfolios of Fifth Street's business development companies could take two to three years, Oaktree management stated in an earnings call Thursday.
By
Glen Fest
Let’s talk: Replacing Libor ‘crazy,’ but procrastinating worse
U.K. authorities are years away from phasing out the London Interbank Offered Rate, but Conning's Paul Norris is urging the industry to pick up the pace on alternative benchmarks now that it's a matter of "when," not "if."
By
Glen Fest
