{ }
Trump has appointed hedge fund manager Scott Bessent as Treasury Secretary, leveraging his investment expertise to navigate a slowing global economy and the dollar's status. Bessent advocates for bank deregulation and supports a friendlier approach to cryptocurrency, earning praise from Republicans and Wall Street figures, while facing criticism from Democrats and progressive groups for his ties to the financial elite.
President-elect Donald Trump is set to nominate hedge fund executive Scott Bessent as Treasury secretary, a role critical for advancing his economic agenda. Bessent, founder of Key Square Group, is known for his market expertise and advocacy for tariffs, deregulation, and energy independence. However, his previous ties to George Soros may pose challenges during the confirmation process.
US collateralized loan obligation (CLO) sales have surged to nearly $185 billion this year, surpassing the previous record of $184.7 billion. This marks the third consecutive year of record issuance since 2018, with sales exceeding the $183.8 billion set in 2021 and the earlier benchmark of $130.4 billion.
The speculative frenzy on Wall Street is intensifying, with gamblers pouring billions into leveraged markets despite a cooling trend in traditional stocks and corporate credit. Heavy trading and significant price fluctuations are evident in assets like cryptocurrencies and leveraged exchange-traded funds, even as volatility in the S&P 500 and Nasdaq 100 begins to stabilize.
Hearthside Food Solutions, a snack manufacturer involved in a child labor scandal, has filed for Chapter 11 bankruptcy in Texas after failing to refinance its debt. The privately-owned company, known for products like frozen burritos and crackers, reported assets and liabilities between $1 billion and $10 billion. Bloomberg had previously indicated that a bankruptcy filing was imminent.
European buyout firm Permira has launched its first collateralized loan obligation (CLO) in the US market, pricing a $430.6 million deal as issuance approaches record levels. This move, arranged by JPMorgan Chase & Co., aims to expand Permira's presence in the $1 trillion CLO market, which is a key buyer of leveraged loans.
Bill Ackman's hedge fund, Pershing Square, is struggling due to a significant investment in Universal Music Group, which has declined approximately 14% this year. Despite a strong overall market, the fund's performance is hindered, marking its second-worst year since 2018. Ackman proposed moving Universal's listing to the U.S. to boost its stock price, but the company denied his claims of having the right to enforce such a change.
Harvard's endowment, once the largest in the university sector, faces challenges that may lead to its decline, particularly against the backdrop of the University of Texas's rising fortunes fueled by energy revenues. Factors contributing to Harvard's struggles include management issues, external controversies, and a decrease in donations, alongside scrutiny over its investment strategies and leadership changes. As the competition intensifies, the future of Harvard's financial dominance hangs in the balance.
Apollo Global Management and Citadel are raising concerns about the risks associated with the growing dominance of passive funds, highlighting hidden costs such as increased volatility and reduced liquidity. Citadel argues that regulators are underestimating the importance of active managers, which hampers their growth. This comes as US exchange-traded funds, a key component of passive investing, see record net inflows of $913 billion this year, pushing total assets beyond $10 trillion amid a strong US stock market.
D.E. Shaw & Co. is seeking to sell approximately $400 million in assets accumulated over the past decade in Spain. The US-based hedge fund has engaged Alantra Partners SA to find potential buyers for a portfolio primarily comprising non-performing loans and real estate assets.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.