-- Blackstone Inc. is “doubling down” on opportunities in its international credit business, as it targets growth in a broader array of debt including local-currency investments, according the firm’s global credit head.“There’s a lot more to do for us in Europe and in Asia,” Gilles Dellaert, global head of credit & insurance at Blackstone, said in an interview in Tokyo. “We want to ensure that we’re of the same scale and breadth everywhere around the world.
Many investors with large high-grade government and corporate debt holdings want to put more into private credit where they can pick up an additional 150-200 basis points in spread, according to Dellaert. The International Monetary Fund in its April global financial stability report encouraged authorities to “consider a more intrusive supervisory and regulatory approach to private credit.” The European Union is also pushing to bring more transparency in the market, with the bloc agreeing in February on new requirements for what private credit investment funds have to disclose.
Berkshire Hathaway trimmed its holdings of Bank of America stock for the first time in at least four years. U.S. Bancorp, Wells Fargo, Bank of New York Mellon, and HP Inc. were once large positions at Berkshire and have been eliminated. The risk of further sales appears to be depressing Bank of America stock, which was off 1.5% on Monday afternoon.Do you like Enbridge stock for its dividend but not the share growth? Consider these two top monthly payers instead.
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