Apollo And Blackstone Raise $35 Billion For Anthropic In One Of The Biggest Ever Private Credit SPV Deals Back in January, when we profiled Meta's landmark $27.3 billion SPV deal named "Beignet" for the Hyperion data center located in Louisiana, in which Blue Owl provided the private credit, we said to "expect hundreds of billions of these in 2026." As a reminder, META is already neck deep in off-...
Apollo And Blackstone Raise $35 Billion For Anthropic In One Of The Biggest Ever Private Credit SPV Deals Back in January, when we profiled Meta's landmark $27.3 billion SPV deal named "Beignet" for the Hyperion data center located in Louisiana, in which Blue Owl provided the private credit, we said to "expect hundreds of billions of these in 2026." As a reminder, META is already neck deep in off-balance sheet debt. Here is a schematic of its $27.3 billion SPV with Blue Owl "Project Beignet" for the Hyperion data center. None of this touches META's balance sheet. Expect hundreds of billions of these in 2026 https://t.co/794EgSiiZ9 pic.twitter.com/7hMyVW6Lno — zerohedge (@zerohedge) January 29, 2026 Fast forward five months when we now read that Apollo and Blackstone have finalized a $35BN private credit deal that will help finance Anthropic’s growth plans, even as traditional " banks are choking " on the amount of AI debt they have to issue. The two private credit giants - which in a parallel universe are struggling with soaring redemption requests and gating retail investors in their private credit BDCs as documented here extensively in recent months - led the financing, one of the largest private credit deals completed, which will fund Anthropic’s purchase of Alphabet-developed chips. The deal, dubbed project “Big Sky”, comes amid concerns that the AI frenzy has overheated the broader market. Shares in chipmakers rebounded on Monday after tumbling last week, led by Broadcom’s fall in market value. It also adds to a deluge of chip-backed loans that sparked debate over how quickly graphics processing units would depreciate as AI technology evolves. In this type of financing structure, a special-purpose vehicle raises capital through a mix of debt and equity to purchase the chips, which are then leased to a customer, in this case Anthropic. The debt is primarily backed by the resulting lease payments, along with the unknown long-term value of the chips. In this case,...
(RTTNews) - Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, amid renewed optimism over the Middle East conflict after Iran and Israel agreed to halt attacks against each other following a recent escalation in violence
(RTTNews) - Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, amid renewed optimism over the Middle East conflict after Iran and Israel agreed to halt attacks against each other following a recent escalation in violence
Funtap/iStock via Getty Images Quarterly commentary Financial assets experienced mixed returns in the first quarter. The fund underperformed the benchmark. Asset allocation was the primary driver of the modest shortfall, while underlying manager performance contributed. Market review and outlook The world financial markets, after performing well in the first two months of the year on continued opt...
Funtap/iStock via Getty Images Quarterly commentary Financial assets experienced mixed returns in the first quarter. The fund underperformed the benchmark. Asset allocation was the primary driver of the modest shortfall, while underlying manager performance contributed. Market review and outlook The world financial markets, after performing well in the first two months of the year on continued optimism about trends in economic growth and interest rates, turned lower following the start of the conflict in the Middle East in early March. The ensuing spike in oil prices, together with concerns about possible shortages of other commodities caused by disrupted supply chains, dampened the growth outlook and led to a sharp rise in inflation expectations. The deteriorating inflation picture, in turn, dashed optimism that central banks could continue cutting rates. In combination, these developments led to a surge in global government bond yields that erased the positive total returns achieved in the first two months of the year. The conflict also fueled a sizable downturn in major global equity indexes in March, sending stocks into the red. With this said, the majority of the negative return for equities stemmed from weakness in the growth style in general, and mega-cap U.S. technology stocks in particular. Conversely, the value style, dividend payers, and more defensive companies generally produced positive returns, benefiting diversified investors. We're encouraged by the broadening of leadership away from the "Magnificent Seven" group of U.S. tech companies, as it provided a tailwind for our diversified positioning. Contributors and detractors The fund's modest underperformance was almost entirely due to its overweight position in equities and its corresponding underweight in bonds. On the positive side, we benefited from having an underweight in U.S. large caps in favor of an overweight in U.S. mid caps. Underlying manager performance contributed, highlighted by relativ...
Chinese coking coal futures extended declines following a local media report that authorities in Shaanxi asked miners to maintain output, after a deadly accident in neighboring Shanxi last month raised supply and safety concerns. Shaanxi’s Provincial Development and Reform Commission has issued a notice urging stable coal supply through the summer peak demand period, according to a report from Cai...
Chinese coking coal futures extended declines following a local media report that authorities in Shaanxi asked miners to maintain output, after a deadly accident in neighboring Shanxi last month raised supply and safety concerns. Shaanxi’s Provincial Development and Reform Commission has issued a notice urging stable coal supply through the summer peak demand period, according to a report from Cailian late Monday. Coking coal futures in Dalian tumbled as much as 6.2%, the biggest intraday loss since August 2025, after dropping on Monday for the first time in four sessions. Prices rallied to the highest level in almost two years this week following the fatal blast that abruptly tightened China’s coal market. Around 70 mines with a capacity of 85 million tons in Shanxi have resumed production following halts after the accident, while 65 mines with capacity of nearly 70 million tons remain suspended, according to Mysteel data from June 8. Separately, iron ore futures in Singapore rose 0.4% to $100.55 a ton. Dry bulk freight rates on the Baltic Dry Index dropped 2.2% to 2,916 points at Monday’s close in London, the seventh straight session of losses.