News

The latest analysis from Dominic Pappalardo, chief multi-asset strategist at Morningstar, reveals important trends in the U.S. corporate credit market, such as the market’s stabilization, the impact of the Fed’s rate cut and a cautious outlook on high yield.

XS Financial closed an agreement to be taken private by Mavik Capital, an investment firm, and Axar Capital Management, an alternative asset management firm.

Onity, a non-bank mortgage servicer and originator, closed multiple transactions to accelerate its ongoing capital restructuring plans.

Salute, a provider of integrated asset management services for the data center industry, received a majority investment from funds managed by New Mountain Capital, an alternative investment firm. Current investor LLR Partners will maintain a minority investment in the company.

According to a new report, the delinquency rate among KBRA-rated U.S. private label commercial mortgage-backed securities (CMBS) in September increased to 5.32%, up 34 basis points from August.

Beyond Air, a commercial stage medical device and biopharmaceutical company, terminated its loan and security agreements with Avenue Capital and entered into an $11.5 million loan agreement with an insider-led investor group.

J.P. Morgan Asset Management launched its latest active exchange-traded fund (ETF), the JPMorgan Dividend Leaders ETF (JDIV), on the NYSE Arca. This fund leverages a dividend strategy, offering a solution that is now broadly accessible to clients.

SVB Financial Group completed the sale of its investment platform business, SVB Capital, to affiliates of Pinegrove Capital Partners, backed by evergreen capital from Brookfield Asset Management and Sequoia Heritage.

Citigroup and Apollo entered into an exclusive agreement for a subsidiary of Citi and certain affiliates of Apollo to form a $25 billion private credit, direct lending program initially in North America, with the potential to expand to additional geographies.

Gordon Brothers has forecasted U.S. retail sales for this upcoming holiday season, predicting a modest increase of 1.2% to 3.5% relative to last year amid economic and political uncertainty.