Sign Up Now!

Sign up and get personalized intelligence briefing delivered daily.


Sign Up

Articles related to "investing"


Meet the power players in Carlyle's $53 billion lending division - Business Insider

  • One of Kewsong Lee's biggest priorities as CEO of The Carlyle Group has been to build out a lending division that offers new financial products for investors and serves as a true equal to its long-standing private-equity team, which has bought thousands of companies over its 34 years of existence, from the luxury fashion brand Golden Goose to the digital-content company Getty Images.
  • Riddhi Bhalla, a managing director who serves as the head of Europe investor relations for Carlyle Global Credit, joined the firm in August and is based in London.
  • Before joining The Carlyle Group in January 2020, Boye was a managing director at HPS Investment Partners, a private-equity firm based in New York.
  • Mark Jenkins is the global head of credit and the chief architect of Carlyle's credit group, whose assets under management have more than doubled, to $53 billion from $25 billion, during his four years at the firm.

save | comments | report | share on


Intel to Cap Off Difficult Year Ahead of New Chief

  • is poised to post full-year results that outline the breadth of challenges awaiting the incoming chief executive as the chip maker looks to fend off competitive pressures and rebuild its technological leadership.
  • The earnings Thursday afternoon mark the end of a challenging yet lucrative year for the semiconductor giant that saw it surpassed in market valuation by rival Nvidia Corp.
  • Wall Street expects the semiconductor giant to report record full-year revenue of $75.4 billion, up from $72 billion the year prior.
  • Bob Swan, the company’s departing chief executive, said last year that a decision was forthcoming by early this year on whether to have the company’s advanced chips made by a third party after Intel fell behind Asian rivals in the development of the next generation of superfast semiconductors.

save | comments | report | share on


Hedge Funds’ Bets on Fannie and Freddie Cause Pain

  • The end of the Trump administration is the end of the best hope for hedge-fund investors in a long and painful trade: Betting that Fannie Mae and Freddie Mac would one day be returned to private hands.
  • A long list of investors has bet that policy makers would eventually privatize the companies, and that once that path became clear, the value of the shares in these companies would increase dramatically.
  • These shares are junior to the government’s stake and thus don’t get paid dividends until after the government is paid.
  • In one scenario where hedge funds would profit, Fannie and Freddie would raise fresh capital, junior preferred shares would be converted to common stock, and the government would write down or eliminate its senior preferred shares.
  • But other complex, long-shot trades, including the subprime bet that the housing market would collapse, resulted in big paydays for some funds.

save | comments | report | share on


Third SPAC ETF Launch Taps Into Blank-Check Company Boom

  • Wall Street is launching a third exchange-traded fund that invests in special-purpose acquisition companies, accelerating a rush to cash in on investors’ enthusiasm for so-called blank-check firms.
  • The hedge fund Morgan Creek Capital Management and the financial-technology company Exos Financial plan to launch the SPAC ETF on Tuesday, the companies said.
  • The new Morgan Creek-Exos SPAC Originated ETF will trade under the ticker SPXZ and consist of a mix of firms that recently went public by merging with a SPAC plus shell companies that are still seeking startups to take public.
  • Morgan Creek Chief Executive Officer Mark Yusko is the former endowment head at the University of North Carolina, Chapel Hill, and Exos is run by former Credit Suisse Group AG CEO Brady Dougan.
  • Morgan Creek and Exos are the latest companies trying to make money from SPACs, which go public and then have up to two years to merge with a company.

save | comments | report | share on


A big infrastructure spending bill might finally be in the cards

  • But economists and investing experts say that spending more to rebuild roads and bridges, as well as building out high-tech infrastructure such as 5G networks, could also help provide jobs to those who need them and give a lift to the broader economy.
  • President Biden and other Democrats are likely to push for increased spending on other types of infrastructure as well, including sources of renewable energy.
  • With that in mind, Duitz said his fund owns renewable energy companies such as NextEra and Atlantica Sustainable Infrastructure but does not own more traditional infrastructure investments such as construction equipment giants Caterpillar and Deere.
  • But even if Biden and other Democrats are able to make that case, they will still need to convince enough Republicans to come on board and support a big spending package.

save | comments | report | share on


Morgan Stanley Profit Shoots Higher, Fueled by Wall Street

  • Morgan Stanley said fourth-quarter profit rose 51% from a year earlier, another big U.S. bank to emerge from a turbulent year in better shape than was expected at the onset of the coronavirus pandemic.
  • That beat the consensus estimates of analysts polled by FactSet, who predicted per-share earnings of $1.30 on revenue of $11.58 billion.
  • Morgan Stanley rounded out fourth-quarter earnings reports from the nation’s big banks, which continued to benefit from a recovery on Wall Street and federal pandemic-response measures that forestalled the worst-case economic scenario.
  • On Tuesday, rival Goldman Sachs Group Inc. reported a fourth-quarter profit that was more than twice as large as year-earlier results and annual revenue that was at an 11-year high.
  • Stock- and bond-trading revenue at Morgan Stanley rose 32% to $4.22 billion.
  • Fees from advising on deals and underwriting stock and bond offerings increased 46% to $2.30 billion.

save | comments | report | share on


Morgan Stanley Quarterly Profit Climbs 51%

  • Morgan Stanley said fourth-quarter profit rose 51% from a year earlier, another big U.S. bank to emerge from a turbulent year in better shape than was expected at the onset of the coronavirus pandemic.
  • That beat the consensus estimates of analysts polled by FactSet, who predicted per-share earnings of $1.30 on revenue of $11.58 billion.
  • Morgan Stanley rounded out fourth-quarter earnings reports from the nation’s big banks, which continued to benefit from a recovery on Wall Street and federal pandemic-response measures that forestalled the worst-case economic scenario.
  • On Tuesday, rival Goldman Sachs Group Inc. reported a fourth-quarter profit that was more than twice as large as year-earlier results and annual revenue that was at an 11-year high.
  • Stock- and bond-trading revenue at Morgan Stanley rose 32% to $4.22 billion.
  • Fees from advising on deals and underwriting stock and bond offerings increased 46% to $2.30 billion.

save | comments | report | share on


Americans Aren’t Draining Their Retirement Funds in the Pandemic

  • But, as happened earlier in the year, the increase in the number of people taking withdrawals was modest.
  • Congress in late March let people pull as much as $100,000 from individual retirement accounts or 401(k)-type plans by Dec. 31 without the 10% early-withdrawal penalty that generally applies under age 59½.
  • In 2020, Fidelity Investments, the nation’s largest 401(k) provider, said 1.6 million people, or 6.3% of eligible participants in plans it administers, took some money out.
  • Fidelity and many other 401(k) record-keepers reported that although the number of people taking Covid-19-related withdrawals continued to grow in the final three months of 2020, the rate of increase was modest and largely in line with what occurred in earlier months, even as the option to take a penalty-free withdrawal ended on Dec. 31.

save | comments | report | share on


Commercial Real Estate Debt Sustained by Central Bank Bond Buying

  • Europe’s downtown office buildings are empty, and malls and main streets are deserted, yet the biggest landlords are staying afloat during the Covid-19 pandemic thanks to robust central-bank buying of bonds backed by property debt.
  • In addition to buying corporate bonds issued by property developers, it has supported commercial real estate by being a huge buyer of covered bonds, a popular type of debt instrument in Europe issued by banks and backed by a pool of loans made to commercial and residential borrowers.
  • Banks last year created mountains of a flavor of “retained” covered bonds that are used exclusively as collateral for ECB loans.
  • A Danske Bank covered bond backed by commercial mortgages traded at minus 0.32% on Tuesday.
  • A similar bond from Danske Bank that is linked to a collateral pool containing only residential mortgages was at minus 0.47%.

save | comments | report | share on


Americans Aren’t Draining Their Retirements Funds in the Pandemic

  • But, as happened earlier in the year, the increase in the number of people taking withdrawals was modest.
  • Congress in late March let people pull as much as $100,000 from individual retirement accounts or 401(k)-type plans by Dec. 31 without the 10% early-withdrawal penalty that generally applies under age 59½.
  • In 2020, Fidelity Investments, the nation’s largest 401(k) provider, said 1.6 million people, or 6.3% of eligible participants in plans it administers, took some money out.
  • Fidelity and many other 401(k) record-keepers reported that although the number of people taking Covid-19-related withdrawals continued to grow in the final three months of 2020, the rate of increase was modest and largely in line with what occurred in earlier months, even as the option to take a penalty-free withdrawal ended on Dec. 31.

save | comments | report | share on