Bank mergers and acquisitions in doubt with tariff whiplash
After rapid changes in U.S. trade policy, banks and their clients are putting merger deals on ice until the dust settles.
M&A
Non-QM lending shops announce merger
Wholesale firm Ardri's acquisition of The Lending Spot comes after the company installed a mortgage industry veteran as its new president earlier this year.
Why Brookfield and Angel Oak are teaming up
The global asset manager wanted access to the smaller company's residential mortgage credit strategies, which will become available to a larger investor base.
Why credit union-bank mergers have hit a lull
Following a record-setting 2024, only one transaction involving a credit union buying a bank has been announced so far this year. Seller concerns about regulatory approval and pushback from bank industry groups have contributed to the slowdown.
Apollo’s RRAM buys CLO manager Irradiant, adding $11 billion
Apollo will assume about $2.2 billion of private credit and renewable assets from Irradiant, while RRAM will add almost $11 billion of CLO assets to its firm.
SocGen’s CLO desk restructuring bears plentiful fruit
The French bank foresees CLO growth in U.S. and Europe but cautions wariness around the current administration's potential impacts to inflation and the economy.
By
John Hintze
Bessent, Republicans in Congress kick start tax cut talks
The confabs are a sign that Republicans are getting serious about negotiating the contours of a tax deal, even as the House and Senate are pursuing separate strategies.
Why bank M&A is off to a sluggish start in 2025
Deal advisors said the Trump administration's tariff threats and the specter of inflation have given some bankers reason to pause on acquisition plans. Momentum could still mount, but uncertainty in Washington is a detriment early in the new year.
Appeals court erects roadblock for uptier LMEs
Borrowers to test court restrictions as record liability management exercises volume continues
By
John Hintze
A quarter of banks expect M&A deals in 2025: Research
Banks are expecting increased M&A activity across the financial sector, but are concerned about acquisition by credit unions and tech integration challenges.
A&D Mortgage to acquire Flagstar’s former TPO business
Over 300 ex-Flagstar employees, initially acquired by Mr. Cooper, will transition to A&D Mortgage.
Crestline delivered one of 2024’s biggest middle-market CLOs
The $1 billion deal included classes A-L-A and A-L-B were offered as loans.
More European middle-market CLOs likely in 2025
Overall CLO growth indicates the asset going mainstream in Europe
By
John Hintze
Georgia CU-bank deal unravels; another pops up in Michigan
A record 22 credit unions announced plans to acquire banks in 2024, though the year ended on a discordant note as regulatory concerns appear to have derailed a planned CU-bank deal in Georgia.
HomeStreet agrees to sell nearly $1 billion in multifamily loans
The Seattle-based company's deal with Bank of America comes five weeks after the termination of its planned sale to FirstSun Capital Bancorp in Denver.
Private credit should trade at premium, Franklin’s Johnson says
Franklin Templeton Investments Chief Executive Officer Jenny Johnson said she's concerned that some investment- and non-investment-grade private credit assets are trading at the same spreads as traditional fixed-income investments like corporate bonds.
Fiscal debt binge is biggest threat to global stability, BIS says
Public-finance repair should be prioritized before alarm among bond investors takes hold, the Bank for International Settlements said.
Fed governor: Regulators just ‘don’t understand’ implications of new rules
Federal Reserve Gov. Michelle Bowman said a lack of banking experience among regulatory officials has led to unintended consequences. She flagged mergers, fintech partnerships and liquidity proposals as prime examples.
Credit union-bank mergers approach all-time high
REV Federal Credit Union in suburban Charleston, South Carolina, plans to acquire First Neighborhood Bank in West Virginia. It marks the 15th deal this year involving a credit union buying a bank, closing in on 2022's record of 16 deals.
Citadel Securities, Jane Street on track for record revenue haul
First-half net trading revenue rose 81% to $4.9 billion from the same period a year earlier at Citadel Securities, and gained 78% to $8.4 billion at Jane Street.
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