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All articles tagged with #asset management

Jain Global Teams Up Exclusively with Millennium, Returns $6B to Investors
business1 month ago

Jain Global Teams Up Exclusively with Millennium, Returns $6B to Investors

Jain Global is pivoting to manage money solely for Millennium, its founder’s former employer, and will return about $6 billion to investors. The exclusive deal gives Millennium access to Jain Global’s multi‑strategy platform while Jain remains independent, with the partnership expected to close in Q3 and aimed at accelerating Jain Global’s growth and offsetting startup costs. Millennium, with about $84 billion AUM, has recently backed external hedge fund talent, and Jain plans to hire roughly 15 portfolio managers by year’s end.

via Business Insider|
#asset-management#business#exclusive-deal
Jain Global to return investor capital as it joins forces with Millennium for exclusive management
business1 month ago

Jain Global to return investor capital as it joins forces with Millennium for exclusive management

Jain Global, the multi‑strategy hedge fund founded in 2024 by Bobby Jain, plans to return investor cash in Q3 and will instead manage money exclusively for Millennium Management under an internal deal, allowing Jain Global to stay independent while Millennium gains scale. The move highlights the high costs and capital needs of multi‑strategy funds, as Jain Global—about $6 billion in AUM—faced difficult fundraising and competition from giants like Citadel and DE Shaw amid volatile markets.

via Financial Times|
#asset-management#bobby-jain#business
Billions in private-capital fees fuel wealth advisers' profits
finance1 month ago

Billions in private-capital fees fuel wealth advisers' profits

A Financial Times analysis shows wealth advisers at banks and independent brokerages earned over $2 billion in servicing and placement fees from evergreen private-capital funds across 16 products since 2017, led by Blackstone Breit and Bcred, with typical fees around 0.25-0.85% annually plus about 0.5% placement and up to 3.5% commissions; critics say adviser incentives helped grow private-capital allocations, while banks defend fiduciary duty and say fees vary by fund, though some have faced outflows recently.

via Financial Times|
#asset-management#finance#financial-services
Private Credit's Hidden Dangers: A Cautionary Look at Unregulated Lending
business1 month ago

Private Credit's Hidden Dangers: A Cautionary Look at Unregulated Lending

Edward Zitron’s Premium piece warns that private credit has become a vast, mostly unregulated market fueling trillions in loans via asset managers and PE firms. Illiquidity, opaque valuation, and inflated software bets have created systemic risk tied to pension and insurance funds, with recent fund troubles (and redemption freezes) exposing how deeply embedded these loans are in the financial system. The author lambastes asset managers for conflicts and misleading labeling, argues that the sector’s reliance on debt-funded growth is unsustainable, and suggests a looming series of smaller crises rather than a single catastrophe as a real threat.

via Ed Zitron's Where's Your Ed At|
#asset-management#business#pensionsretirement-funds
Distressed-debt funds chase post-2008 windfall amid private-credit turmoil
business1 month ago

Distressed-debt funds chase post-2008 windfall amid private-credit turmoil

Investors specializing in distressed assets are targeting the private‑credit downturn as the biggest opportunity since the 2008 financial crisis, betting on bargains as redemptions hit funds and lenders face exposure shifts to AI-influenced software; while industry leaders warn the cycle could yield outsized returns, some observers caution that hype may outpace reality, as firms deploy capital, raise new funds and brace for tougher conditions.

via Financial Times|
#asset-management#business#distressed-debt
Apollo Trims Withdrawals in Flagship Private Credit Vehicle
business2 months ago

Apollo Trims Withdrawals in Flagship Private Credit Vehicle

Apollo Global Management capped redemptions from its flagship Apollo Debt Solutions BDC after investors sought about $1.6 billion (11.2% of its $15 billion net assets), above the 5% threshold for limiting withdrawals. The firm honoured roughly half of withdrawal requests, joining peers like Morgan Stanley and BlackRock in restricting outflows as investor sentiment cools on semi-liquid private markets. The fund, with about $25 billion in investments, posted roughly flat net flows for the quarter after new commitments and redemptions, and recorded its first monthly loss in February due to a sell-off in more liquid loans.

via Financial Times|
#apollo-global-management#asset-management#business
PIMCO Links Private Credit Crisis to Underwriting Lapses
business2 months ago

PIMCO Links Private Credit Crisis to Underwriting Lapses

PIMCO argues the ongoing private credit crisis is driven by bad underwriting, with optimistic projections and technical sloppiness cited as factors; fund managers like Blackstone and Blue Owl have responded to redemption pressures with increased repurchase offers and withdrawal restrictions, while the broader market could see tighter credit conditions and lower investor returns—mid-single-digit default rates with returns shrinking from about 10% to 6-8%.

via Seeking Alpha|
#asset-management#business#credit-crisis
Private-credit fears spark a selloff in asset-manager stocks
markets3 months ago

Private-credit fears spark a selloff in asset-manager stocks

Investors dumped asset-manager stocks last week after concerns about Blue Owl Capital’s private‑credit fund sparked fears of liquidity strain and possible spillovers to other private‑debt lenders and BDCs, prompting worries about how quickly portfolios could be exited and at what prices. While analysts say private credit has grown large and isn’t yet a systemic crisis, the episode highlights liquidity risk in publicly traded vehicles that hold private loans and the sensitivity of the asset-management sector to private‑debt conditions.

via MarketWatch|
#asset-management#bdcs#blue-owl-capital
BlackRock tops $14tn in assets after record quarter
business4 months ago

BlackRock tops $14tn in assets after record quarter

BlackRock surpassed $14tn in assets under management after a record quarter, with $342bn of inflows in Q4 and almost $700bn for the year, driven by strong equity and fixed‑income ETF flows and a rally in stocks. The firm also expanded private‑markets activity (private credit and infrastructure) and took on about $80bn of Citigroup assets, as it pursues roughly $400bn in private‑markets fundraising by 2030. Revenue rose 23% to $7bn in the quarter, while net profit fell about a third due to higher costs tied to its acquisition spree.

via Financial Times|
#asset-management#blackrock#business