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

65
14
Favorite

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. ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（14）

Terrens
·2021-02-03
Aĺl buy
Reply
3
Report
Fold Replies
- Terrens:
  yes buy open door
  2021-02-09
  Reply
  Report
- Kenwen:
  Quest
  2021-02-09
  Reply
  Report
- Kenwen:
  reply for daily quest please, thank you
  2021-02-03
  Reply
  Report
hitithard
·2021-02-03
Oh wow
Reply
Like
Report
Fold Replies
- Dystinvest:
  Noice
  2021-02-03
  Reply
  Report
MakeItBig
·2021-02-03
Test
Reply
Like
Report
ACEONG77
·2021-02-03
Really?
Reply
Like
Report
Fold Replies
- ACEONG77:
  yes
  2021-02-03
  Reply
  Report
- Jackjackhan:
  Nice
  2021-02-03
  Reply
  Report
KTKC
·2021-02-03
nice
Reply
Like
Report
Fold Replies
- JazzyTazzy:
  Ok
  2021-02-03
  Reply
  Report
Kenwen
·2021-02-03
.....
Reply
1
Report
Fold Replies
- Kenwen:
  ...
  2021-02-03
  Reply
  Report
Hangry
·2021-02-03
Wow
Reply
1
Report
Fold Replies
- 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
  Reply
  Report
Jonlum
·2021-02-02
Why no comment
Reply
Like
Report
Cuiluan
·2021-02-02
Good
Reply
Like
Report
ALT
·2021-02-02
Wow
Reply
Like
Report
johnnyboy
·2021-02-02
Buy time
Reply
Like
Report
La0Hu0Tang
·2021-02-02
Buy buy buy
Reply
Like
Report
Fold Replies
- La0Hu0Tang:
  Or sell?
  2021-02-02
  Reply
  Report
LeeWan
·2021-02-02
Good
Reply
1
Report
Fold Replies
- LeeWan:
  [财迷]
  2021-02-02
  Reply
  Report
xJimmy
·2021-02-02
Tell me your opinion about this news...
Reply
Like
Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2108178483?lang=en_US&edition=fundamental","thumbnail":"https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d","is_english":true,"pubTime":"2021-02-02 17:47","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2108178483","market":"us","top_or_hot":-1,"title":"Mediobanca’s Cairn to Buy Blackstone-Backed Hedge Fund Bybrook","media":"Bloomberg","content":"<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\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","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\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MDIBF","symbol_name":"MedioBanca SpA","start_time":0,"source_url":"https://finance.yahoo.com/news/mediobanca-cairn-buy-blackstone-backed-080353831.html","article_id":"2108178483","we_media_id":null,"thumbnails":["https://static.tigerbbs.com/e43f07c1c5461943957607904ed45a2d"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2108178483","pubTimestamp":1612259262,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distr","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"MDIBF":"MedioBanca SpA","BX":"黑石"},"translate_title":"Mediobanca's Cairn将收购黑石支持的对冲基金Bybrook","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BX":0.9,"MDIBF":0.6},"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.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":314197155,"gmtCreate":1612317154277,"gmtModify":1704869648924,"author":{"id":"3571363097076123","authorId":"3571363097076123","authorIdStr":"3571363097076123","name":"Terrens","avatar":"https://static.tigerbbs.com/3de224a4ccb02f0dbcea7ad782bfd855","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":0,"idStr":"3571363097076123"},"htmlText":"Aĺl buy","listText":"Aĺl buy","text":"Aĺl buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/314197155","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","pubTimestamp":1612259262,"share":"https://ttm.financial/m/news/2108178483?lang=&edition=fundamental","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":3522225,"gmtCreate":1612833104187,"gmtModify":1680776189411,"authorId":3571363097076123,"author":{"id":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"},{"id":3521341,"gmtCreate":1612823290164,"gmtModify":1680776169146,"authorId":3574500206068120,"author":{"id":3574500206068120,"authorId":3574500206068120,"name":"Kenwen","avatar":"https://static.tigerbbs.com/0e40d46e852addbb8143debd4343a58c","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.18%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":9,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314197155,"type":1,"supId":0,"prevId":0,"content":"Quest","text":"Quest","html":"Quest"},{"id":3474718,"gmtCreate":1612321268557,"gmtModify":1680775454167,"authorId":3574500206068120,"author":{"id":3574500206068120,"authorId":3574500206068120,"name":"Kenwen","avatar":"https://static.tigerbbs.com/0e40d46e852addbb8143debd4343a58c","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.18%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":9,"crmLevelSwitch":1,"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>"}],"langContent":"EN"},{"id":314372597,"gmtCreate":1612315254319,"gmtModify":1704869621555,"author":{"id":"3570063321997588","authorId":"3570063321997588","authorIdStr":"3570063321997588","name":"hitithard","avatar":"https://static.tigerbbs.com/309ce7b357018aa7b946332c2fe8725c","vip":1,"crmLevel":5,"crmLevelSwitch":0,"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://ttm.financial/post/314372597","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","pubTimestamp":1612259262,"share":"https://ttm.financial/m/news/2108178483?lang=&edition=fundamental","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":1680775448468,"authorId":3573044991181175,"author":{"id":3573044991181175,"authorId":3573044991181175,"name":"Dystinvest","avatar":"https://static.tigerbbs.com/b694d4209d8456f46a47b42c4e0ab22c","vip":1,"crmLevel":2,"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":1704869526799,"author":{"id":"3559079837305868","authorId":"3559079837305868","authorIdStr":"3559079837305868","name":"MakeItBig","avatar":"https://static.tigerbbs.com/b44111d8243dcade2c28446e4d9c03ce","vip":1,"crmLevel":2,"crmLevelSwitch":0,"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://ttm.financial/post/314334291","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","pubTimestamp":1612259262,"share":"https://ttm.financial/m/news/2108178483?lang=&edition=fundamental","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":1704869515426,"author":{"id":"3574923462420975","authorId":"3574923462420975","authorIdStr":"3574923462420975","name":"ACEONG77","avatar":"https://static.tigerbbs.com/1f21e9272dac440520286b3add23ef26","vip":1,"crmLevel":2,"crmLevelSwitch":0,"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://ttm.financial/post/314330240","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","pubTimestamp":1612259262,"share":"https://ttm.financial/m/news/2108178483?lang=&edition=fundamental","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":3474253,"gmtCreate":1612317494984,"gmtModify":1680775446841,"authorId":3574923462420975,"author":{"id":3574923462420975,"authorId":3574923462420975,"name":"ACEONG77","avatar":"https://static.tigerbbs.com/1f21e9272dac440520286b3add23ef26","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>"},{"id":3473319,"gmtCreate":1612310952633,"gmtModify":1680775426929,"authorId":3562322754388190,"author":{"id":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"}],"langContent":"EN"},{"id":314304102,"gmtCreate":1612304064206,"gmtModify":1704869498100,"author":{"id":"3565231232776689","authorId":"3565231232776689","authorIdStr":"3565231232776689","name":"KTKC","avatar":"https://static.tigerbbs.com/3297cecf6a456dbf873aad32896ad1fd","vip":1,"crmLevel":6,"crmLevelSwitch":0,"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://ttm.financial/post/314304102","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","pubTimestamp":1612259262,"share":"https://ttm.financial/m/news/2108178483?lang=&edition=fundamental","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":1680775449613,"authorId":3567658644109643,"author":{"id":3567658644109643,"authorId":3567658644109643,"name":"JazzyTazzy","avatar":"https://static.tigerbbs.com/cd4a9dd018fb8d987d99b520851b607a","vip":1,"crmLevel":3,"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":1704869491276,"author":{"id":"3574500206068120","authorId":"3574500206068120","authorIdStr":"3574500206068120","name":"Kenwen","avatar":"https://static.tigerbbs.com/0e40d46e852addbb8143debd4343a58c","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":9,"crmLevelSwitch":1,"idStr":"3574500206068120"},"htmlText":".....&nbsp;","listText":".....&nbsp;","text":".....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/314301073","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","pubTimestamp":1612259262,"share":"https://ttm.financial/m/news/2108178483?lang=&edition=fundamental","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":1680775425571,"authorId":3574500206068120,"author":{"id":3574500206068120,"authorId":3574500206068120,"name":"Kenwen","avatar":"https://static.tigerbbs.com/0e40d46e852addbb8143debd4343a58c","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.18%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":9,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":314301073,"type":1,"supId":0,"prevId":0,"content":"...<br>","text":"...<br>","html":"...<br>"}],"langContent":"EN"},{"id":314915627,"gmtCreate":1612284761469,"gmtModify":1704869415310,"author":{"id":"3561799921489676","authorId":"3561799921489676","authorIdStr":"3561799921489676","name":"Hangry","avatar":"https://static.tigerbbs.com/ad025b87748517512879dc0a56ddd144","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":6,"crmLevelSwitch":1,"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://ttm.financial/post/314915627","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","pubTimestamp":1612259262,"share":"https://ttm.financial/m/news/2108178483?lang=&edition=fundamental","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":1680775406350,"authorId":3527667803686145,"author":{"id":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":1704869232466,"author":{"id":"3555365473641011","authorId":"3555365473641011","authorIdStr":"3555365473641011","name":"Jonlum","avatar":"https://static.tigerbbs.com/a0561a2384b9accd5dface2757284f58","vip":1,"crmLevel":5,"crmLevelSwitch":0,"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://ttm.financial/post/315772457","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","pubTimestamp":1612259262,"share":"https://ttm.financial/m/news/2108178483?lang=&edition=fundamental","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":1704869037038,"author":{"id":"3572592153317675","authorId":"3572592153317675","authorIdStr":"3572592153317675","name":"Cuiluan","avatar":"https://static.tigerbbs.com/6081fb4b5ab84dec716a63691ea6919b","vip":1,"crmLevel":5,"crmLevelSwitch":0,"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://ttm.financial/post/315485412","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","pubTimestamp":1612259262,"share":"https://ttm.financial/m/news/2108178483?lang=&edition=fundamental","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":1704868969024,"author":{"id":"3575346220147121","authorId":"3575346220147121","authorIdStr":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"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://ttm.financial/post/315578727","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","pubTimestamp":1612259262,"share":"https://ttm.financial/m/news/2108178483?lang=&edition=fundamental","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":1704868944459,"author":{"id":"3574470863456268","authorId":"3574470863456268","authorIdStr":"3574470863456268","name":"johnnyboy","avatar":"https://static.tigerbbs.com/3f1ae504243dd90e4d179be3cee5a24f","vip":1,"crmLevel":3,"crmLevelSwitch":0,"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://ttm.financial/post/315552597","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","pubTimestamp":1612259262,"share":"https://ttm.financial/m/news/2108178483?lang=&edition=fundamental","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":1704868832468,"author":{"id":"3556520970499983","authorId":"3556520970499983","authorIdStr":"3556520970499983","name":"La0Hu0Tang","avatar":"https://static.tigerbbs.com/75337e153897f5c0f3b5f47674132fd1","vip":1,"crmLevel":5,"crmLevelSwitch":0,"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://ttm.financial/post/315271875","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","pubTimestamp":1612259262,"share":"https://ttm.financial/m/news/2108178483?lang=&edition=fundamental","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":1680775318087,"authorId":3556520970499983,"author":{"id":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":1704868830668,"author":{"id":"3558097748623340","authorId":"3558097748623340","authorIdStr":"3558097748623340","name":"LeeWan","avatar":"https://static.tigerbbs.com/88769849d29a340fce73355c249755a4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"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://ttm.financial/post/315273882","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","pubTimestamp":1612259262,"share":"https://ttm.financial/m/news/2108178483?lang=&edition=fundamental","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":1680775318568,"authorId":3558097748623340,"author":{"id":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":1704868829499,"author":{"id":"3570511255316785","authorId":"3570511255316785","authorIdStr":"3570511255316785","name":"xJimmy","avatar":"https://static.tigerbbs.com/b24d4b1856cd8d6958f25fff0e8a85b6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"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://ttm.financial/post/315279336","repostId":2108178483,"repostType":4,"repost":{"id":"2108178483","pubTimestamp":1612259262,"share":"https://ttm.financial/m/news/2108178483?lang=&edition=fundamental","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}}