Rasi Bhadramani JPMorgan Chase ( JPM ) and other large Wall Street banks are working with S&P Global ( SPGI ) to launch an index of credit-default swaps, The Wall Street Journal reported on Friday. Banks, including Bank of America ( BAC ), Barclays ( BCS ) ( BCLYF ), Deutsche Bank ( DB ), and Goldman Sachs ( GS ), are set to begin selling the derivatives next week, according to people familiar wit...
Rasi Bhadramani JPMorgan Chase ( JPM ) and other large Wall Street banks are working with S&P Global ( SPGI ) to launch an index of credit-default swaps, The Wall Street Journal reported on Friday. Banks, including Bank of America ( BAC ), Barclays ( BCS ) ( BCLYF ), Deutsche Bank ( DB ), and Goldman Sachs ( GS ), are set to begin selling the derivatives next week, according to people familiar with the matter. The CDX Financials index is expected to protect buyers against defaults by companies included in the index. "This will be the first credit-default swap product linked to private credit," Nicholas Godec, head of fixed-income tradeables & commodities at S&P Dow Jones Indices, reportedly said. Private credit funds managed by Apollo Global Management ( APO ), Ares Management ( ARES ), and Blackstone ( BX ) will reportedly make up 12% of the index. Insurers including MetLife ( MET ) and Radian Group ( RDN ); banks such as Jefferies Financial Group ( JEF ) and Truist Financial ( TFC ); and credit card companies like American Express ( AXP ) and Capital One Financial ( COF ) are also set to be a part of the index. The so-called FINDX index, which rises when the market sentiment on such firms turns negative, is expected to give debt investors and traders a fast way to hedge or short the industry. Hedge funds, said to be keen for a way to make bets on a downturn in private credit, began trying to short individual stocks and bonds issued by firms that invest in private credit. The process was cumbersome and costly, the report noted, citing one hedge-fund manager. Investors are said to have sought to get back more than $20B of their investments from private credit firms in Q1 2026, a sign of the increasing concern after a boom in the asset class. The sector, including Apollo Global Management ( APO ), Ares ( ARES ), Blackstone ( BX ), Blue Owl Capital ( OWL ), and KKR ( KKR ), received $20.8B in redemption requests during the quarter. Activist investor Boaz Weinstein's S...
Private equity interest and the rising popularity of live sports are poised to extend an advance in National Hockey League team valuations after years of strong gains, said Dallas Stars Chief Executive Officer Brad Alberts . “I don’t think it’s stopping,” Alberts said in an interview Friday at Bloomberg’s Dallas office. “Sports are a real spice for people to look to invest.” The Stars are explorin...
Private equity interest and the rising popularity of live sports are poised to extend an advance in National Hockey League team valuations after years of strong gains, said Dallas Stars Chief Executive Officer Brad Alberts . “I don’t think it’s stopping,” Alberts said in an interview Friday at Bloomberg’s Dallas office. “Sports are a real spice for people to look to invest.” The Stars are exploring ways to develop a mixed-use real estate project centered around a new arena when their lease expires with the American Airlines Center in 2031. The plans have been up in the air amid a legal battle with the NBA’s Dallas Mavericks , who share the arena. The Mavericks have dropped part of their claim against the Stars and said they’re looking to “move past this issue,” the Dallas Morning News reported this week. Alberts, discussing the litigation, said, “I hope that this ends.” “We want to get back to normal business at the arena,” he said. Both franchises have discussed building separate new arenas. While the Mavericks have said they’re aiming to stay within Dallas city limits, the Stars have weighed a potential move to nearby Plano, Texas. Alberts said the next four to five months will be key as the team considers its next steps. “It still seems like a long time to 2031, but it isn’t,” he said. “This summer decisions have to be made.”
Bloomberg's Olivia Fishlow and Aaron Weinman join Katie Greifeld on "Bloomberg Real Yield." A $7 billion private credit fund managed by Carlyle Group capped redemptions after investors asked to pull 15.7% of the shares in the first quarter. The software problem roiling private markets is about to face a big new test. A wall of debt maturities is looming for the industry. (Source: Bloomberg)
Bloomberg's Olivia Fishlow and Aaron Weinman join Katie Greifeld on "Bloomberg Real Yield." A $7 billion private credit fund managed by Carlyle Group capped redemptions after investors asked to pull 15.7% of the shares in the first quarter. The software problem roiling private markets is about to face a big new test. A wall of debt maturities is looming for the industry. (Source: Bloomberg)
(RTTNews) - Unite Group plc (UTG.L) announced on Friday that it has secured 74 percent of bookings for the upcoming 2026/27 academic year, which is a slight dip from last year.
(RTTNews) - Unite Group plc (UTG.L) announced on Friday that it has secured 74 percent of bookings for the upcoming 2026/27 academic year, which is a slight dip from last year.