Stifel Bank’s Post

Another day, another new entrant into private credit! Former Goldman Sachs Group Inc. partners Tom Connolly and Mike Koester are betting on one of the hottest corners on Wall Street for their next act. The New York-based duo have co-founded a new firm, 5C Investment Partners, that aims to capture a slice of the burgeoning private credit market, where alternative asset managers are increasingly displacing banks by providing multi-billion financings to companies. 5C, which describes itself as a credit-centric alternative investment firm, will be initially focused on the US, with scope to expand in Europe. Story by Gillian Tan https://lnkd.in/d8q5zdPq #privatecredit #directlending

BCRED’s impressive growth over the past quarter highlights a number of things: 1. The appetite of investors for private credit exposure driven by ‘rich’ public equities markets combined with the opportunities presented by the pullback in the bank lending 2. The growing importance of the wealth management and retail segment for the likes of Blackstone, Apollo, KKR etc 3. An increased focus on delivering products targeting investors outside of the U.S. and Europe which are typically chronically under-allocated to the international private markets I see big opportunities for growth for managers that can effectively grow their client coverage in the emerging markets through a blended insourced and outsourced model.

Private credit is marketed as a relationship business, so it comes as no great surprise when existing lenders to a business are hanging on to continue that relationship come LBO or refi. Goldman Sachs is the latest to use its incumbent status to great advantage as it lines up a €1bn+ package for Triton Partners sale of All4Labels - Global Packaging Group. 💰 In this weeks Taking the Credit 9fin’s private credit editor, Josie Shillito explores the power of incumbent lenders, banks’ significant risk transfer trades and dry powder. Plus clients can access 9fin’s european deal pipeline that shows 44 deals coming as well as freshly closed situations. 👉 Read now — https://lnkd.in/es2kN36y 📧 Contact us now via subscriptions@9fin.com to access the pipeline! #privatecredit #financeinsights #directlending #debtcapitalmarkets

In the paper's Closing Bell column, looked at how documents lodged with SEC show Bill Ackman is set to IPO his biggest fund yet for retail investors, targeting a $US26b raising, zero performance fees, zero management fees for 12 months, close-ended structure, UBS, Citi underwriting, spoke to Geoff Wilson Wilson Asset Management https://lnkd.in/gHgd9te5

most active wealthtech investors in 2023. This is a category where strategics can provide a big boost to companies so not surprising to see folks like: - Citi - Fidelity - FJ - UBs etc represented.

I recently read an encouraging piece in The Wall Street Journal exploring how Wall Street banks have been experiencing dealmaking “green shoots.” This has resulted in renewed optimism, despite declining M&A revenue.   We have seen a lot of speculation about how macro uncertainties are impacting dealmaking across the globe. However, success in dealmaking is not always contingent on macro uncertainties.   Over the course of my career, I have always found that M&A, when executed in a strategic and mindful manner, can be an effective way for financial services firms to rejuvenate their strategies, complement synergies, and explore new ways to drive growth. Macro uncertainties are important and should be considered, but what takes deals over the line are established and trusted partnerships, tenacity across the deal teams and – despite short-term headwinds – a clear, forward-looking view of the transaction’s ultimate value and potential.   #financialservices #mergersandacquisitions #transactions #regulatory

Following nearly 30 years at Citigroup, most recently as Global Co-Head of Institutional Credit Management, Ted Yarbrough joined Yieldstreet in May as Chief Investment Officer. In his first quarterly letter, Ted discusses the following: ✓ Perspectives on private markets in the current environment ✓ Our focus on delivering a balanced portfolio of investments that can provide capital preservation, income, and capital appreciation ✓ What you can expect from Yieldstreet as we close out 2023 https://lnkd.in/e5G4KTDP

🎉 Proud to announce that I have successfully completed the "What is Investment Banking?" course by WallStreetMojo! 🎓 This comprehensive course has provided me with invaluable insights into the world of investment banking, enhancing my understanding of financial markets, mergers and acquisitions, and capital raising strategies. A big thank you to Dheeraj Vaidya, CFA, FRM, for his expert guidance throughout the course. I'm excited to apply these new skills and knowledge in my professional journey. Certificate Number: R7RTODO JAG Date: 02 June 2024 #InvestmentBanking #Finance #ProfessionalDevelopment #WallStreetMojo #LifelongLearning

Our Q2 Middle-Market M&A Update is here! There continues to be near-record high levels of dry powder amongst private equity firms, who are hungry to do deals. Corporate (strategic) buyers continue to have both an interest and an advantage in the M&A markets due to their ability to use equity and cash to complete an acquisition and are keeping things competitive and holding multiples relatively steady. For more insights into what is going on in Middle-Market M&A, check out our Investment Banking Team’s full report here: https://ow.ly/1s0l50PHTXT If you have any questions or would like to discuss the Q2 update further, feel free to reach out to David Dinolfo, CPA or John Rogers today!

📊 The Fund Monitor: Tender offers, preliminary results, and dividend heroes. Third Point LLC Investors launches a tender offer to shareholders for up to 25% of the issued share capital of the Company. 🤝 The Merchants Trust PLC makes it 42 years in a row of dividend increases 📈 Elsewhere, which firm is eyeing ‘Dividend Hero��� status? Catch up on the latest here. #Dividends #InvestmentTrusts