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Five months in, Alessandro Melzi is getting started on the plan, but his boss is about to change
A slow destruction of misallocated investment is more likely than a sudden stop
Investors confident software fears are overblown
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The Carlyle Group has raised $3.1bn of investable capital and $2.4bn of equity commitments for its new credit opportunities fund, tapping investors’ interest in private debt to surpass the firm’s target goal. -
Deutsche Bank may devote more resources to its Schuldschein business after its restructuring and cutting of its equities business, a senior banker has said, though it does not plan to hire any extra staff in the area.
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Iceland’s Landsvirkjun has signed a $150m-equivalent revolver, with the state owned energy company the latest borrower to refinance bank debt with a sustainability-linked facility.
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The European Securities and Markets Authority (Esma) has had to row back on fines for four Nordic banks for issuing credit ratings, after an appeal board found that the banks had not broken the rules negligently.
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Nine Dragons Paper has moved a HK$3.9bn ($498m) loan into general syndication, giving a small group of banks two weeks to make a decision on the deal.
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Event-driven hedge fund Sand Grove Capital Management has disclosed a 5% stake in UK car dealer BCA Marketplace, the subject of a takeover offer from TDR Capital. The purchase follows big sales from some of BCA’s cornerstone shareholders who had agreed to support the bid, including embattled Woodford Investment Management, and Invesco.
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