Ares Management Corp News

20.12 / 06:49

markets Digital security Software awards show rights NARCL offer for JAL triggers Swiss challenge, a dozen entities interested

NARCL) for the debt-laden Jaiprakash Associates Ltd (JAL) has triggered a Swiss Challenge auction, with close to a dozen entities showing interest in acquiring the Noida-based conglomerate on an all-cash basis. Distressed aggregators such as the Kotak Mahindra Group-backed Phoenix ARC, US-based Ares Management Corp-backed Acre ARC (asset reconstruction company), Avenue Capital’s Arcil ARC and CFM ARC have expressed initial interest in submitting a bid, said senior executives of these entities. NBFC Capri Global and US-based alternative investment fund Cerberus Capital have also expressed interest, people familiar with the matter said. ET could not ascertain the names of all entities interested in the asset.

23.05 / 15:03

UPS JPMorgan Opinion wellness President reports JPMorgan on the prowl for a partner in private credit

JPMorgan Chase & Co. is on the hunt to buy a private credit firm to augment its $3.6 trillion asset management arm, as the biggest US bank makes more inroads into Wall Street’s buzziest sector.

03.05 / 21:27

Platform Strategy Basketball information rights Sporting Spurs co-owner Sixth Street laying ground for debut sports fund

Sixth Street, the investment firm that owns a 20% stake in the San Antonio Spurs, is planning to raise its first fund dedicated to the sports ecosystem, according to people with knowledge of the matter.

01.12 / 13:06

IPO JPMorgan Remark Patterson blues information reports Private credit carve-out from JPMorgan filed ‘secret’ IPO plan

HPS Investment Partners, the private credit firm carved out of JPMorgan Chase & Co. in 2016, confidentially filed for an initial public offering, according to people with knowledge of the matter.

29.12 / 13:45

UPS CLOs wrap up record year as Libor phases out

Investors’ search for higher yields and Wall Street’s shift to a new interest-rate benchmark powered a record year in sales of collateralized loan obligations—securities made of bundles of low-rated corporate loans.

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