All articles tagged with #atlas sp partners
HSBC faces a roughly $400 million loss from a back-leverage loan to Market Financial Solutions, with Atlas SP Partners (an Apollo unit) handling sponsor due diligence; the episode underscores the risks of sponsor-led private credit where lenders rely on intermediaries and non-recourse structures, highlighting the need to verify sponsors’ checks even as the industry prioritizes speed and diversification.
Pacific Western Bank has reported that customers have withdrawn 20% of their deposits since the start of the year, and it has raised $1.4 billion in cash from a facility provided by Atlas SP Partners, backed by some of the bank's assets. The bank has also borrowed about $15 billion from various federal programs, including just over $2 billion from the emergency lending program that the Federal Reserve set up after the collapse of Silicon Valley Bank and Signature Bank. PacWest Bancorp, the bank's parent company, saw its stock slip after the announcement, which also detailed the measures the company has taken to raise cash to bolster its balance sheet.