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World first deals could break new ground in sport risk management
Capital increase follows deal to buy HSBC Malta stake
Five months in, Alessandro Melzi is getting started on the plan, but his boss is about to change
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The Federal Reserve on Thursday announced that the Term Asset Backed Lending Facility (TALF) will be expanded to include triple-A rated CMBS and CLO paper as eligible collateral, part of another sweeping set of relief measures to support the economy as damage from the virus pandemic mounts.
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Bronte Capital’s funds posted bumper gains in March. The hedge fund founded by the famous Australian short seller John Hempton benefitted from puts and shorts purchased before other investors panicked about the spread of coronavirus.
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The International Monetary Fund has doubled its emergency financial package for emerging and developing countries hit by the Covid-19 pandemic, its managing director said on Thursday, as she warned that the global economy would suffer its worst slump since the Great Depression.
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Rating agency Fitch says that the bleak economic outlook has exposed many of Germany’s banks’ weaknesses, prompting it to take action on the ratings of many of them. Deutsche Bank could become one of Europe’s banks most affected by the recession.
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The International Private Equity and Venture Capital Valuation Guidelines (Ipev) body has warned funds to take special care over quarter-end reporting and valuation of portfolios, so that marks for sponsor-owned companies reflect as well as they can the devastation of the coronavrius pandemic, rather than the benign conditions prevailing at the start of the year.
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The European Bank of Reconstruction and Development told GlobalCapital that alongside providing €1bn of emergency short-term funding, it is also considering debt repayment extensions for existing clients amid the coronavirus crisis.