On Monday, September 15, 2008, shortly after the close of the New York Stock Exchange, Lehman Brothers surprised the world by filing for bankruptcy. This came on the heels of rescues/bankruptcies of Bear Stearns and Merrill Lynch and was followed quite soon by more of the same at Wachovia, Washington Mutual, and AIG. Market participants quickly concluded that the U.S. financial sector was on the verge of melting down
The Roundup by Howard Marks and Oaktree Capital Management, the quarterly must read if you work in credit
High-income assets will likely benefit, but investors should avoid complacency, particularly given the unpredictability of macroeconomic factors. In the current installment of The Roundup,1 Oaktree experts examine the risks and opportunities in various asset classes.
Latest blueprint, from VC leading firm XAnge, on early-stage companies
The fundraising climate is dynamic, with higher levels of activity compared to pre-2021 benchmarks.The venture industry is more active than any time before 2021, with over 500 rounds of $2M+ raised by European startups in Q1 2024. Valuations are more heavily weighted towards earnings than revenues. In Q2 2024, EBITDA multiples generally rose, while revenue multiples fell.
Castlelake wisdom with regards to lenders diversifying away from cash flow-based lending
After a decade of booming activity in mid-market direct lending, many lenders are eyeing an opportunity to diversify away from cash flow-based lending into more esoteric asset-based finance. Whether lending against portfolios of performing or non-performing consumer loans, music royalties or trade finance receivables, the asset-based credit landscape is a fast-expanding frontier for creative lenders.
The secrets of Fintech lending uncovered by Scayl’s CEO Medjit Yalmaz (Part. 2)
Part 2: Dark sides of Fintech lending...and why the market needs to be revolutionised to capture its full potential. This is a three-part series about what’s wrong with the Fintech lending value chain as we know it and why we believe it needs to be revolutionised for it to truly prosper and grow into what it can be
The secrets of Fintech lending uncovered by Scayl’s CEO Medjit Yalmaz (Part. 1)
Part 1: Dark sides of Fintech lending...and why the market needs to be revolutionised to capture its full potential. This is a three-part series about what’s wrong with the Fintech lending value chain as we know it and why we believe it needs to be revolutionised for it to truly prosper and grow into what it can be