Laura Benitez

Today, @laura-benitez.bsky.social and Scott Carpenter are looking at how the retirement savings of ordinary Americans are used to provide a lifeline to private equity funds, in the form of an esoteric type of financing: NAV loans.

Over 3,000 Private Credit Deals From Just 20 Analysts Raise Questions on Wall Street A tiny ratings firm says it’s the market's most prolific grader of private credit. Industry insiders worry trouble is brewing.

In 2024, Egan-Jones says it graded more than 3,000 private credit deals… with a team of about 20 analysts. Industry insiders worry trouble is brewing.

Read our Big Take, by Silas Brown, @laura-benitez.bsky.social and myself below.

www.bloomberg.com/news/article...

Exc: We looked inside the $2trn bond giant Pimco and what life's been like since its founder Bill Gross left 10 years ago.

These days Pimco's hunting for ways to profit from private markets, but results are mixed and some wonder if its "bonds and burgers" recipe still works.
Edited by James Boxell

NEW: Apollo is looking to gather $25b of capital for its flagship PE fund, which is expected to launch early next year, and would be the largest yet.

PE firms are looking to raise record fund volumes in 2025 as the market for IPOs and lower rates are expected to give the sector a needed boost.

Bashar al-Assad reported to have fled Syria as rebels say they have captured Damascus Celebrations on streets of Syrian cities as as Assad regime appears to have fallen * Live updates: celebrations reported in Damascus as rebels claim capital Syrian President Bashar al-Assad is believed to have fled the country his family has ruled…

Bashar al-Assad reported to have fled Syria as rebels say they have captured Damascus

Nomura Fired Bond Trader Sawada After Japanese Spoofing Probe Nomura Holdings Inc., Japan’s biggest brokerage, dismissed senior trader Takushi Sawada after regulators concluded that he had arranged the manipulative transactions that have tipped the firm into sca...

Nomura dismissed a senior trader named Takushi Sawada after regulators found that he had arranged the manipulative transactions that have tipped the firm into scandal. Latest via @bloomberg.com

www.bloomberg.com/news/articles/2024-12-06/nomura-fired-bond-trader-sawada-after-japanese-spoofing-probe

Rebels Seize Control Over Most of Syria’s Largest City The rapid advance on Aleppo came just four days into a surprise opposition offensive that is the most intense escalation in years in the civil war.

Rebels had seized most of Syria’s largest city, Aleppo, as of Saturday, according to a war monitoring group and to fighters who were combing the streets in search of any remaining pockets of government forces.