Market news
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Two new structures for getting retail money into private credit – Blackstone, Vanguard, and Wellington team up
Three structural innovations – i) funds jointly branded by three top-tier managers, ii) a fund that mixes liquid public securities with illiquid private assets, iii) a mixed private fund with a lower redemption cap.
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Hundreds of billions of dollars of AI-infrastructure debt might need re-analysis after surprise release of open-weights (free-to-use) model Kimi K3
This top-tier model being made freely available to use changes the “stories” we use about how the future will unfold for AI…
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Aircraft financing market continues to grow as AIP and Monroe launch a securitization program with a $643 million deal
The deal likely allows AIP and Monroe to book larger profits, free up their own capital to grow scale, and by proving…
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Investment banks raise over $30 billion last week – as deregulation gives us bigger banks
Banks lock in over $30 billion in bond sales this week – as deregulation drives growing balance sheets.
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Jumbo private credit deals in India growing – US$1.6 billion deal arranged by Deutsche Bank with investors including Cerberus, Davidson Kempner and Farallon
Deal split between international and local private credit firms. Potentially offers value as margins compress in “easier” jurisdictions
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$50 billion committed bank financing for PayPal bid – one of the biggest M&A financing commitments ever
Stripe and private equity firm Advent secured $50 billion in committed bank financing for their joint bid for PayPal.
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UK announces 2027 first G7 digital sovereign bond – a benchmark towards global DLT bonds at scale
Issuance of a DLT bond by a G7 sovereign could be a major milestone towards relatively rapid digitisation of bond markets.