Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook_老虎社区_美港股上老虎

Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook

Bloomberg2021-02-02

(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments. ...

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Terrens
·2021-02-03
Aĺl buy
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3
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- Kenwen:
  reply for daily quest please, thank you
  2021-02-03
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- Kenwen:
  Quest
  2021-02-09
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- Terrens:
  yes buy open door
  2021-02-09
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hitithard
·2021-02-03
Oh wow
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- Dystinvest:
  Noice
  2021-02-03
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MakeItBig
·2021-02-03
Test
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2a6a341c
·2021-02-03
Really?
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- Jackjackhan:
  Nice
  2021-02-03
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- 2a6a341c:
  yes
  2021-02-03
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KTKC
·2021-02-03
nice
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- JazzyTazzy:
  Ok
  2021-02-03
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Kenwen
·2021-02-03
.....
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1
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- Kenwen:
  ...
  2021-02-03
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Hangry
·2021-02-03
Wow
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1
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- 社区成长助手:
  终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看老虎社区创作指引
  2021-02-03
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Jonlum
·2021-02-02
Why no comment
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Cuiluan
·2021-02-02
Good
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ALT
·2021-02-02
Wow
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johnnyboy
·2021-02-02
Buy time
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La0Hu0Tang
·2021-02-02
Buy buy buy
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- La0Hu0Tang:
  Or sell?
  2021-02-02
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LeeWan
·2021-02-02
Good
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1
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- LeeWan:
  [财迷]
  2021-02-02
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xJimmy
·2021-02-02
Tell me your opinion about this news...
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He did not disclose the value of the deal.\nThe deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.\nIt’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.\nInvestors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.\nLondon-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.\nThe firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.\nUnder the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3474718,"gmtCreate":1612321268557,"gmtModify":1635766845388,"authorId":3574500206068120,"author":{"id":3574500206068120,"idStr":"3574500206068120","authorId":3574500206068120,"name":"Kenwen","avatar":"https://static.tigerbbs.com/0e40d46e852addbb8143debd4343a58c","vip":1,"crmLevel":9,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314197155,"type":1,"supId":0,"prevId":0,"content":"<p>reply for daily quest please, thank you</p>","text":"<p>reply for daily quest please, thank you</p>","html":"<p>reply for daily quest please, thank you</p>"},{"id":3521341,"gmtCreate":1612823290164,"gmtModify":1635765727179,"authorId":3574500206068120,"author":{"id":3574500206068120,"idStr":"3574500206068120","authorId":3574500206068120,"name":"Kenwen","avatar":"https://static.tigerbbs.com/0e40d46e852addbb8143debd4343a58c","vip":1,"crmLevel":9,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314197155,"type":1,"supId":0,"prevId":0,"content":"Quest","text":"Quest","html":"Quest"},{"id":3522225,"gmtCreate":1612833104187,"gmtModify":1635765693960,"authorId":3571363097076123,"author":{"id":3571363097076123,"idStr":"3571363097076123","authorId":3571363097076123,"name":"Terrens","avatar":"https://static.tigerbbs.com/3de224a4ccb02f0dbcea7ad782bfd855","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314197155,"type":1,"supId":3521341,"prevId":0,"content":"yes buy open door","text":"yes buy open door","html":"yes buy open door"}],"langContent":"EN"},{"id":314372597,"gmtCreate":1612315254319,"gmtModify":1703760240705,"author":{"id":"3570063321997588","authorId":"3570063321997588","name":"hitithard","avatar":"https://static.tigerbbs.com/309ce7b357018aa7b946332c2fe8725c","vip":1,"crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3570063321997588","idStr":"3570063321997588"},"htmlText":"Oh wow","listText":"Oh wow","text":"Oh wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/314372597","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","kind":"news","pubTimestamp":1612259262,"share":"https://www.laohu8.com/m/news/2108178483?lang=&edition=full","pubTime":"2021-02-02 17:47","market":"us","language":"en","title":"Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook","url":"https://stock-news.laohu8.com/highlight/detail?id=2108178483","media":"Bloomberg","summary":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distr","content":"<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.</p>\n<p>The acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.</p>\n<p>The deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.</p>\n<p>It’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.</p>\n<p>Investors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.</p>\n<p>London-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.</p>\n<p>The firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.</p>\n<p>Under the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-02 17:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d","relate_stocks":{"MDIBF":"MedioBanca SpA","BX":"黑石"},"source_url":"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108178483","content_text":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\nThe acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.\nThe deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.\nIt’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.\nInvestors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.\nLondon-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.\nThe firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.\nUnder the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3474029,"gmtCreate":1612315990767,"gmtModify":1635766865717,"authorId":3573044991181175,"author":{"id":3573044991181175,"idStr":"3573044991181175","authorId":3573044991181175,"name":"Dystinvest","avatar":"https://static.tigerbbs.com/b694d4209d8456f46a47b42c4e0ab22c","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314372597,"type":1,"supId":0,"prevId":0,"content":"Noice","text":"Noice","html":"Noice"}],"langContent":"EN"},{"id":314334291,"gmtCreate":1612308510013,"gmtModify":1703760146009,"author":{"id":"3559079837305868","authorId":"3559079837305868","name":"MakeItBig","avatar":"https://static.tigerbbs.com/b44111d8243dcade2c28446e4d9c03ce","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3559079837305868","idStr":"3559079837305868"},"htmlText":"Test","listText":"Test","text":"Test","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/314334291","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","kind":"news","pubTimestamp":1612259262,"share":"https://www.laohu8.com/m/news/2108178483?lang=&edition=full","pubTime":"2021-02-02 17:47","market":"us","language":"en","title":"Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook","url":"https://stock-news.laohu8.com/highlight/detail?id=2108178483","media":"Bloomberg","summary":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distr","content":"<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.</p>\n<p>The acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.</p>\n<p>The deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.</p>\n<p>It’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.</p>\n<p>Investors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.</p>\n<p>London-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.</p>\n<p>The firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.</p>\n<p>Under the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-02 17:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d","relate_stocks":{"MDIBF":"MedioBanca SpA","BX":"黑石"},"source_url":"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108178483","content_text":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\nThe acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.\nThe deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.\nIt’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.\nInvestors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.\nLondon-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.\nThe firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.\nUnder the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":314330240,"gmtCreate":1612307189880,"gmtModify":1703760133632,"author":{"id":"3574923462420975","authorId":"3574923462420975","name":"2a6a341c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3574923462420975","idStr":"3574923462420975"},"htmlText":"Really?","listText":"Really?","text":"Really?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/314330240","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","kind":"news","pubTimestamp":1612259262,"share":"https://www.laohu8.com/m/news/2108178483?lang=&edition=full","pubTime":"2021-02-02 17:47","market":"us","language":"en","title":"Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook","url":"https://stock-news.laohu8.com/highlight/detail?id=2108178483","media":"Bloomberg","summary":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distr","content":"<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.</p>\n<p>The acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.</p>\n<p>The deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.</p>\n<p>It’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.</p>\n<p>Investors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.</p>\n<p>London-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.</p>\n<p>The firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.</p>\n<p>Under the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-02 17:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d","relate_stocks":{"MDIBF":"MedioBanca SpA","BX":"黑石"},"source_url":"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108178483","content_text":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\nThe acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.\nThe deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.\nIt’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.\nInvestors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.\nLondon-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.\nThe firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.\nUnder the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3473319,"gmtCreate":1612310952633,"gmtModify":1635766881976,"authorId":3562322754388190,"author":{"id":3562322754388190,"idStr":"3562322754388190","authorId":3562322754388190,"name":"Jackjackhan","avatar":"https://static.tigerbbs.com/93da13b08a8b08d39aee823b7078ba2e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314330240,"type":1,"supId":0,"prevId":0,"content":"Nice","text":"Nice","html":"Nice"},{"id":3474253,"gmtCreate":1612317494984,"gmtModify":1635766860134,"authorId":3574923462420975,"author":{"id":3574923462420975,"idStr":"3574923462420975","authorId":3574923462420975,"name":"2a6a341c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314330240,"type":1,"supId":3473319,"prevId":0,"content":"<u>yes</u>","text":"<u>yes</u>","html":"<u>yes</u>"}],"langContent":"EN"},{"id":314304102,"gmtCreate":1612304064206,"gmtModify":1703760116114,"author":{"id":"3565231232776689","authorId":"3565231232776689","name":"KTKC","avatar":"https://static.tigerbbs.com/3297cecf6a456dbf873aad32896ad1fd","vip":1,"crmLevel":5,"crmLevelSwitch":0,"authorIdStr":"3565231232776689","idStr":"3565231232776689"},"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/314304102","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","kind":"news","pubTimestamp":1612259262,"share":"https://www.laohu8.com/m/news/2108178483?lang=&edition=full","pubTime":"2021-02-02 17:47","market":"us","language":"en","title":"Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook","url":"https://stock-news.laohu8.com/highlight/detail?id=2108178483","media":"Bloomberg","summary":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distr","content":"<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.</p>\n<p>The acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.</p>\n<p>The deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.</p>\n<p>It’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.</p>\n<p>Investors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.</p>\n<p>London-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.</p>\n<p>The firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.</p>\n<p>Under the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-02 17:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d","relate_stocks":{"MDIBF":"MedioBanca SpA","BX":"黑石"},"source_url":"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108178483","content_text":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\nThe acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.\nThe deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.\nIt’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.\nInvestors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.\nLondon-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.\nThe firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.\nUnder the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3474113,"gmtCreate":1612316576355,"gmtModify":1635766863966,"authorId":3567658644109643,"author":{"id":3567658644109643,"idStr":"3567658644109643","authorId":3567658644109643,"name":"JazzyTazzy","avatar":"https://static.tigerbbs.com/cd4a9dd018fb8d987d99b520851b607a","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314304102,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":314301073,"gmtCreate":1612302108592,"gmtModify":1703760108558,"author":{"id":"3574500206068120","authorId":"3574500206068120","name":"Kenwen","avatar":"https://static.tigerbbs.com/0e40d46e852addbb8143debd4343a58c","vip":1,"crmLevel":9,"crmLevelSwitch":0,"authorIdStr":"3574500206068120","idStr":"3574500206068120"},"htmlText":".....&nbsp;","listText":".....&nbsp;","text":".....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/314301073","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","kind":"news","pubTimestamp":1612259262,"share":"https://www.laohu8.com/m/news/2108178483?lang=&edition=full","pubTime":"2021-02-02 17:47","market":"us","language":"en","title":"Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook","url":"https://stock-news.laohu8.com/highlight/detail?id=2108178483","media":"Bloomberg","summary":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distr","content":"<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.</p>\n<p>The acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.</p>\n<p>The deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.</p>\n<p>It’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.</p>\n<p>Investors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.</p>\n<p>London-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.</p>\n<p>The firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.</p>\n<p>Under the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-02 17:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d","relate_stocks":{"MDIBF":"MedioBanca SpA","BX":"黑石"},"source_url":"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108178483","content_text":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\nThe acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.\nThe deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.\nIt’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.\nInvestors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.\nLondon-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.\nThe firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.\nUnder the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3472531,"gmtCreate":1612302167835,"gmtModify":1635766900422,"authorId":3574500206068120,"author":{"id":3574500206068120,"idStr":"3574500206068120","authorId":3574500206068120,"name":"Kenwen","avatar":"https://static.tigerbbs.com/0e40d46e852addbb8143debd4343a58c","vip":1,"crmLevel":9,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314301073,"type":1,"supId":0,"prevId":0,"content":"...<br>","text":"...<br>","html":"...<br>"}],"langContent":"EN"},{"id":314915627,"gmtCreate":1612284761469,"gmtModify":1703760028222,"author":{"id":"3561799921489676","authorId":"3561799921489676","name":"Hangry","avatar":"https://static.tigerbbs.com/ad025b87748517512879dc0a56ddd144","vip":1,"crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3561799921489676","idStr":"3561799921489676"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/314915627","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","kind":"news","pubTimestamp":1612259262,"share":"https://www.laohu8.com/m/news/2108178483?lang=&edition=full","pubTime":"2021-02-02 17:47","market":"us","language":"en","title":"Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook","url":"https://stock-news.laohu8.com/highlight/detail?id=2108178483","media":"Bloomberg","summary":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distr","content":"<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.</p>\n<p>The acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.</p>\n<p>The deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.</p>\n<p>It’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.</p>\n<p>Investors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.</p>\n<p>London-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.</p>\n<p>The firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.</p>\n<p>Under the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-02 17:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d","relate_stocks":{"MDIBF":"MedioBanca SpA","BX":"黑石"},"source_url":"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108178483","content_text":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\nThe acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.\nThe deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.\nIt’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.\nInvestors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.\nLondon-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.\nThe firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.\nUnder the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3471670,"gmtCreate":1612285041220,"gmtModify":1612285041220,"authorId":3527667803686145,"author":{"id":3527667803686145,"idStr":"3527667803686145","authorId":3527667803686145,"name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314915627,"type":1,"supId":0,"prevId":0,"content":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看<a href=\"https://laohu8.com/TW/934879903\">老虎社区创作指引</a>","text":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看<a href=\"https://laohu8.com/TW/934879903\">老虎社区创作指引</a>","html":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看<a href=\"https://laohu8.com/TW/934879903\">老虎社区创作指引</a>"}],"langContent":"EN"},{"id":315772457,"gmtCreate":1612278463379,"gmtModify":1703759838471,"author":{"id":"3555365473641011","authorId":"3555365473641011","name":"Jonlum","avatar":"https://static.tigerbbs.com/a0561a2384b9accd5dface2757284f58","vip":1,"crmLevel":5,"crmLevelSwitch":0,"authorIdStr":"3555365473641011","idStr":"3555365473641011"},"htmlText":"Why no comment&nbsp;","listText":"Why no comment&nbsp;","text":"Why no comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/315772457","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","kind":"news","pubTimestamp":1612259262,"share":"https://www.laohu8.com/m/news/2108178483?lang=&edition=full","pubTime":"2021-02-02 17:47","market":"us","language":"en","title":"Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook","url":"https://stock-news.laohu8.com/highlight/detail?id=2108178483","media":"Bloomberg","summary":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distr","content":"<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.</p>\n<p>The acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.</p>\n<p>The deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.</p>\n<p>It’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.</p>\n<p>Investors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.</p>\n<p>London-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.</p>\n<p>The firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.</p>\n<p>Under the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-02 17:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d","relate_stocks":{"MDIBF":"MedioBanca SpA","BX":"黑石"},"source_url":"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108178483","content_text":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\nThe acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.\nThe deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.\nIt’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.\nInvestors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.\nLondon-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.\nThe firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.\nUnder the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":315485412,"gmtCreate":1612271918636,"gmtModify":1703759634170,"author":{"id":"3572592153317675","authorId":"3572592153317675","name":"Cuiluan","avatar":"https://static.tigerbbs.com/6081fb4b5ab84dec716a63691ea6919b","vip":1,"crmLevel":5,"crmLevelSwitch":0,"authorIdStr":"3572592153317675","idStr":"3572592153317675"},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/315485412","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","kind":"news","pubTimestamp":1612259262,"share":"https://www.laohu8.com/m/news/2108178483?lang=&edition=full","pubTime":"2021-02-02 17:47","market":"us","language":"en","title":"Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook","url":"https://stock-news.laohu8.com/highlight/detail?id=2108178483","media":"Bloomberg","summary":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distr","content":"<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.</p>\n<p>The acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.</p>\n<p>The deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.</p>\n<p>It’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.</p>\n<p>Investors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.</p>\n<p>London-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.</p>\n<p>The firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.</p>\n<p>Under the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-02 17:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d","relate_stocks":{"MDIBF":"MedioBanca SpA","BX":"黑石"},"source_url":"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108178483","content_text":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\nThe acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.\nThe deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.\nIt’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.\nInvestors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.\nLondon-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.\nThe firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.\nUnder the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":315578727,"gmtCreate":1612267980169,"gmtModify":1703759562121,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/315578727","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","kind":"news","pubTimestamp":1612259262,"share":"https://www.laohu8.com/m/news/2108178483?lang=&edition=full","pubTime":"2021-02-02 17:47","market":"us","language":"en","title":"Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook","url":"https://stock-news.laohu8.com/highlight/detail?id=2108178483","media":"Bloomberg","summary":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distr","content":"<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.</p>\n<p>The acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.</p>\n<p>The deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.</p>\n<p>It’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.</p>\n<p>Investors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.</p>\n<p>London-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.</p>\n<p>The firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.</p>\n<p>Under the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-02 17:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d","relate_stocks":{"MDIBF":"MedioBanca SpA","BX":"黑石"},"source_url":"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108178483","content_text":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\nThe acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.\nThe deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.\nIt’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.\nInvestors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.\nLondon-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.\nThe firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.\nUnder the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":315552597,"gmtCreate":1612266911519,"gmtModify":1703759536712,"author":{"id":"3574470863456268","authorId":"3574470863456268","name":"johnnyboy","avatar":"https://static.tigerbbs.com/3f1ae504243dd90e4d179be3cee5a24f","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3574470863456268","idStr":"3574470863456268"},"htmlText":"Buy time","listText":"Buy time","text":"Buy time","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/315552597","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","kind":"news","pubTimestamp":1612259262,"share":"https://www.laohu8.com/m/news/2108178483?lang=&edition=full","pubTime":"2021-02-02 17:47","market":"us","language":"en","title":"Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook","url":"https://stock-news.laohu8.com/highlight/detail?id=2108178483","media":"Bloomberg","summary":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distr","content":"<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.</p>\n<p>The acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.</p>\n<p>The deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.</p>\n<p>It’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.</p>\n<p>Investors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.</p>\n<p>London-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.</p>\n<p>The firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.</p>\n<p>Under the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-02 17:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d","relate_stocks":{"MDIBF":"MedioBanca SpA","BX":"黑石"},"source_url":"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108178483","content_text":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\nThe acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.\nThe deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.\nIt’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.\nInvestors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.\nLondon-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.\nThe firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.\nUnder the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":315271875,"gmtCreate":1612259656397,"gmtModify":1703759419899,"author":{"id":"3556520970499983","authorId":"3556520970499983","name":"La0Hu0Tang","avatar":"https://static.tigerbbs.com/75337e153897f5c0f3b5f47674132fd1","vip":1,"crmLevel":5,"crmLevelSwitch":0,"authorIdStr":"3556520970499983","idStr":"3556520970499983"},"htmlText":"Buy buy buy&nbsp;","listText":"Buy buy buy&nbsp;","text":"Buy buy buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/315271875","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","kind":"news","pubTimestamp":1612259262,"share":"https://www.laohu8.com/m/news/2108178483?lang=&edition=full","pubTime":"2021-02-02 17:47","market":"us","language":"en","title":"Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook","url":"https://stock-news.laohu8.com/highlight/detail?id=2108178483","media":"Bloomberg","summary":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distr","content":"<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.</p>\n<p>The acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.</p>\n<p>The deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.</p>\n<p>It’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.</p>\n<p>Investors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.</p>\n<p>London-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.</p>\n<p>The firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.</p>\n<p>Under the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-02 17:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d","relate_stocks":{"MDIBF":"MedioBanca SpA","BX":"黑石"},"source_url":"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108178483","content_text":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\nThe acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.\nThe deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.\nIt’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.\nInvestors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.\nLondon-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.\nThe firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.\nUnder the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3465943,"gmtCreate":1612259761093,"gmtModify":1635767010527,"authorId":3556520970499983,"author":{"id":3556520970499983,"idStr":"3556520970499983","authorId":3556520970499983,"name":"La0Hu0Tang","avatar":"https://static.tigerbbs.com/75337e153897f5c0f3b5f47674132fd1","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":315271875,"type":1,"supId":0,"prevId":0,"content":"Or sell?","text":"Or sell?","html":"Or sell?"}],"langContent":"EN"},{"id":315273882,"gmtCreate":1612259604346,"gmtModify":1703759418345,"author":{"id":"3558097748623340","authorId":"3558097748623340","name":"LeeWan","avatar":"https://static.tigerbbs.com/88769849d29a340fce73355c249755a4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3558097748623340","idStr":"3558097748623340"},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/315273882","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","kind":"news","pubTimestamp":1612259262,"share":"https://www.laohu8.com/m/news/2108178483?lang=&edition=full","pubTime":"2021-02-02 17:47","market":"us","language":"en","title":"Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook","url":"https://stock-news.laohu8.com/highlight/detail?id=2108178483","media":"Bloomberg","summary":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distr","content":"<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.</p>\n<p>The acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.</p>\n<p>The deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.</p>\n<p>It’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.</p>\n<p>Investors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.</p>\n<p>London-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.</p>\n<p>The firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.</p>\n<p>Under the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-02 17:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d","relate_stocks":{"MDIBF":"MedioBanca SpA","BX":"黑石"},"source_url":"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108178483","content_text":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\nThe acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.\nThe deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.\nIt’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.\nInvestors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.\nLondon-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.\nThe firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.\nUnder the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3465905,"gmtCreate":1612259614207,"gmtModify":1635767011284,"authorId":3558097748623340,"author":{"id":3558097748623340,"idStr":"3558097748623340","authorId":3558097748623340,"name":"LeeWan","avatar":"https://static.tigerbbs.com/88769849d29a340fce73355c249755a4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":315273882,"type":1,"supId":0,"prevId":0,"content":"[财迷]","text":"[财迷]","html":"[财迷]"}],"langContent":"EN"},{"id":315279336,"gmtCreate":1612259505825,"gmtModify":1703759416963,"author":{"id":"3570511255316785","authorId":"3570511255316785","name":"xJimmy","avatar":"https://static.tigerbbs.com/b24d4b1856cd8d6958f25fff0e8a85b6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3570511255316785","idStr":"3570511255316785"},"htmlText":"Tell me your opinion about this news...","listText":"Tell me your opinion about this news...","text":"Tell me your opinion about this news...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/315279336","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","kind":"news","pubTimestamp":1612259262,"share":"https://www.laohu8.com/m/news/2108178483?lang=&edition=full","pubTime":"2021-02-02 17:47","market":"us","language":"en","title":"Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook","url":"https://stock-news.laohu8.com/highlight/detail?id=2108178483","media":"Bloomberg","summary":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distr","content":"<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.</p>\n<p>The acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.</p>\n<p>The deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.</p>\n<p>It’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.</p>\n<p>Investors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.</p>\n<p>London-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.</p>\n<p>The firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.</p>\n<p>Under the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-02 17:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d","relate_stocks":{"MDIBF":"MedioBanca SpA","BX":"黑石"},"source_url":"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108178483","content_text":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments.\nThe acquisition, set to complete by the end of June, will add around $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.\nThe deal fits with the Italian bank’s strategy to expand in wealth and alternative asset management in order to maintain higher margins compared with its larger domestic rivals.\nIt’s also a rare example of consolidation in the alternative asset management industry, which signals the drive to gain complementary expertise as money managers try to improve returns.\nInvestors are looking for managers who can provide different solutions through the cycle, including distressed, said Chalmers. “This is a transaction driven by synergies on the investment side and not a desire for additional scale,” he said.\nLondon-based Bybrook, founded by Robert Dafforn in 2014 with private equity giant Blackstone investing $150 million of seed capital, is still waiting for its first major credit market downturn.\nThe firm has been involved in high profile debt situations, such as Banca Monte dei Paschi di Siena SpA’s debt, and it’s preparing for a new wave of defaults. Misallocation of capital by European governments and low growth are now “sowing the seeds” for the next wave of distressed debt, Dafforn said in a phone interview.\nUnder the deal, Bybrook’s shareholders will take a minority stake in Cairn, with Mediobanca remaining the controlling shareholder with 64%, Chalmers said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":65,"commentSize":14,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}