Market Moves
-
Market moves - 25 May
Analytics acquisition
IHS Markit has signed a definitive agreement to acquire Ipreo for US$1.855bn from private equity funds managed by Blackstone and the Goldman Sachs merchant banking division. The acquisition is expected to close in 2H18, subject to customary closing conditions and regulatory approvals. Following a detailed review of its financial services businesses, the firm has also initiated a process .......
Market Moves 25 May 2018
-
Market moves - 18 May
Europe
CIFC has hired Joshua Hughes as head of European marketing, based out of London and reporting to co-ceo, Oliver Wriedt. Hughes was previously head of global distribution at Muzinich & Co. He will lead the firm’s fundraising efforts in the UK and throughout Europe as the firm establishes its European platform.
Simon Collingridge and Tony Ward of Home Funding Limited and Jaap .......
Market Moves 18 May 2018
-
Market moves - 11 May
Acquisitions
Blackstone is set to acquire all outstanding common shares of Gramercy Property Trust for US$27.50 per share in an all-cash transaction valued at US$7.6bn. The transaction represents a premium of 23% over the 30-day volume-weighted average share price ending 4 May 2018 and a premium of 15% over the closing stock price on that date. Completion of the acquisition .......
Market Moves 11 May 2018
-
Market moves - 4 May
Acquisitions
Five Oaks Investment Corporation has acquired 100% of the equity interests of Hunt CMT Equity from hunt Mortgage Group for US$68m. Assets of Hunt CMT Equity include the junior retained notes and preferred shares of a commercial real estate CLO, a licensed commercial mortgage lender and eight loan participations. The assets of the CLO consist of performing transitional floating .......
Market Moves 4 May 2018
-
Market moves - 27 April
Australia
FIIG Securities has hired Anne-Marie Hunter-Brown to the role of markets business manager, Australia. She was previously at Deutsche Bank as IB markets coo and business manager across global credit including structured credit.
Assured Guaranty rebuttal
Hedge fund manager David Einhorn recently stated that he is betting on Assured Guaranty’s stock falling, and that it .......
Market Moves 27 April 2018
-
Market moves - 20 April
Acquisitions
BlackRock has acquired Tennenbaum Capital Partners (TCP), complementing its global credit business at a time when clients are increasingly turning to private credit as a higher-yielding alternative to traditional fixed income allocations. A key element of the transaction – which is expected to close in Q3 - is the continuity of TCP's senior management team, including all five partners .......
Market Moves 20 April 2018
-
Market moves - 13 April
Aircraft ABS on watch
Market Moves 13 April 2018
KBRA has placed the class A, B and C notes of the US$411m Prop 2017-1 ABS on watch for downgrade. The ABS represents the first securitisation from Elix Aviation Capital, with the proceeds being used to buy 63 aircraft on lease to 17 airlines in 12 countries. KBRA notes that one aircraft was not delivered to .......
-
Market moves - 6 April
Europe
CSC has hired Robert Berry as chairman of its capital markets group in London and Debra Parsall as director, also in London. Berry was most recently global head of capital markets at Intertrust Group. Parsall was most recently a director of capital markets at SFM Europe.
The Bank of England has hired Antonio Guevara as an ILS specialist. Guevara .......
Market Moves 6 April 2018
-
Market moves - 29 March
Europe
Man Group has hired Simon Finch as cio of credit at Man GLG, its discretionary investment management engine. In this newly created role, Finch will be responsible for Man GLG’s credit business and will have oversight of the credit portfolio management teams. He will report to Teun Johnston, ceo of Man GLG, and work closely with Man GLG’s cio, .......
Market Moves 29 March 2018
-
Market moves - 16 March
EMEA
Citigroup has appointed Laura Coady to the newly created position of head of EMEA, structured finance syndicate desk and she will continue to report locally to EMEA co-heads of global structured finance and securitisation Peter Keller and Bob Liao, and report globally to Vikram Prasad, global head of credit syndicate desk, taking responsibility for distributing all products from the .......
Market Moves 16 March 2018
-
Market moves - 9 March
North America
Market Moves 9 March 2018
Anthony Orso has joined NKF Capital Markets as president of capital markets strategies. Orso will support the integration of Berkeley Point Capital with ARA, two companies recently acquired by NKF Capital Markets, an affiliate of the Newmark Group. He will work closely with Jeff Day, ceo of Berkeley Point Capital and Blake Okland, vice chairman and head of US multifamily. .......
-
Market moves - 2 March
North America
Cowen and Company has named Philip Cushman as head of global institutional sales which includes managing both the institutional equity and credit sales teams and Burton Welly has been named head of special situations and distressed credit trading, Cowen and Company, increasing his responsibilities to include all distressed credit trading initiatives. Prior to joining Cowen, Cushman served as md and .......
Market Moves 2 March 2018
-
Market moves - 23 February
North America
David Sykes has rejoined Chapman and Cutler as a partner, expanding the firm's San Francisco office and asset securitisation department. Prior to rejoining, he was most recently at Renew Financial where he served as general counsel.
Onex has appointed Tate Abols to its investor relations and fund development team as md. Abols was most recently a principal on .......
Market Moves 23 February 2018
-
Market moves - 16 February
EMEA
Fulcrum Asset Management has recruited Mark Horne as a director within the newly created Fulcrum Alternative Strategies team, reporting to partner Matthew Roberts. Horne previously worked as an independent asset management consultant in London and Paris. Prior to that, he was a senior credit manager researcher at Willis Towers Watson and was director of client services at Natixis Global .......
Market Moves 16 February 2018
-
Market moves - 9 February
North America
Greystone has hired Anthony Alicea as head of production of the portfolio lending group. He will report to Mark Jarrell, who leads the group, and he will oversee production for the firm's bridge and mezzanine lending products that complement Greystone's lending products. In his 20-year career, he has led CMBS and securitisation projects for Arthur Andersen's real estate .......
Market Moves 9 February 2018
-
Market moves - 2 February
North America
CVC Credit Partners has named Gretchen Bergstresser as global head of performing credit - a new role within the firm - having led its US performing credit strategy. Phil Raciti, senior md in CVC's New York office, will become head of US performing credit. Additionally, from 1 February partner and London-based senior portfolio manager Jonathan Bowers will become .......
Market Moves 2 February 2018
-
Market moves - 26 January
North America
Schulte Roth & Zabel has elected Stephen Schauder as a partner in the structured finance and derivatives group, working with co-heads Craig Stein and Boris Ziser. Schauder joined the firm as an associate in 2015 after having previously worked at Stroock & Stroock & Lavan in the structured finance department.
CIFC has hired Jay Huang as md, senior .......
Market Moves 26 January 2018
-
Market moves - 19 January
Acquisitions
Market Moves 19 January 2018
RenaissanceRe Ventures is set to acquire a minority shareholding in Catalina Holdings (Bermuda), with the aim of helping the business to explore a wider range of transaction structures. The agreement is subject to regulatory approval and is expected to close concurrently with the majority acquisition of Catalina by affiliates of Apollo Global Management. Aditya Dutt, president of Renaissance Underwriting Managers, will .......
-
Market moves - 12 January
Acquisition
Acrisure is set to acquire 100% of Beach & Associates equity from the firm's existing shareholders, which include Aquiline Capital Partners and Beach management. Under new ownership, Beach will retain its name and continue to operate as an independent advisory and transactional broking business within Acrisure. The existing Beach management team will remain following the transaction and have elected to become .......
Market Moves 12 January 2018
-
Market moves - 5 January
Acquisitions/Investments
Market Moves 5 January 2018
SoftBank Group Corp has acquired Fortress Investment Group for US$3.3bn in cash and now – along with its subsidiaries – owns all outstanding Fortress shares. Fortress shareholders approved the transaction last summer and all necessary regulatory approvals have now also been received. As a result of the acquisition, each outstanding Fortress class A share has been converted into the right to .......
