And a cracking quote from @CBinsights on capital markets #fintech!
“Legacy technologies are pivotal in the functioning of the capital markets ecosystem, yet on average are ~38 years old and have remained static. Further, incumbent players have been slow to innovate if at all.”
It was pitched as a collaborative process, but some asset managers felt like they didn't have a choice and were “volun-told” to engage in the stress test.
The BoE said no firm had withdrawn or notified the Bank of an intention to withdraw.
🚨 Amazing story from @9finHQ on emerging tensions between the Bank of England and #PrivateCredit firms.
At least two asset managers participating in the BoE's private markets stress test are considering dropping out due to the "excessive workload"
https://t.co/p3gPD4L397
Building @9finHQ forward deployed team for credit. The coolest job in finance 🔥 I'd want it myself if I didn't already have a role!
Forward Deployed Banker: https://t.co/aNiDISHEyP
Forward Deployed Investor: https://t.co/WBNZbtZGwP
#LevFin#HighYield#DistressedDebt#AI
First Brands must read per the FT. Apollo basically shorted because:
- The PnL didn't tie to the cash flows
- The company reported 20% margins while buying businesses that ran below 10%
- The CEO controlled dozens of entities, many ending in litigation/liquidation, and a SIMPLE Google search revealed nothing about him (biggest red flag imo).
That's the whole thesis. No leak or whistleblower. Just common sense.
I hate to say I told you so (because I didnt) but anyone with five minutes of experience covering markets could have told you what inevitably happens to the young person inevitably hailed as a generational genius for yoloing into the market theme du jour.
We need equity to be real with sizeable outcomes for employees, not something that's discounted as a pipe dream. Esp. important in Europe where fewer equity $ events vs. US. That's why we did employee secondary as part of our Series C at @9finHQ
https://t.co/Dm6qB7JS3j
Very excited to have @9finHQ 's #MCP go live today. Amazing client feedback and very strong demand. We also just launched a new dockets product, DIP financing database, and v2 of our AI Research Grid.
Ridiculous product velocity from the team 🚀
#LevFin#Distressed#HighYield
This is why everyone should learn restructuring
Did you think a contract is a contract and you cannot get out?
Well, you should learn about Section 365 of the Bankruptcy Code
The debtor can reject a contract, and you are left holding an unsecured claim (which most likely will become a donut)
Dustin Johnson with an unsecured claim against PIF is kind of hilarious to picture
Ulster lads were epic today, Baloucoune and McCloskey! Both made massive ground to make try saving tackles and had strong line breaks. Gibson Park at 9 also the best I’ve ever seen him play. #ENGvIRE
7 missed points from the tee and a few marginal calls on try scoring line breaks (knock on, tackle in the air). Could easily have been 36-7. Hope it doesn't cost us! @BBCSport#ENGvIRE