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Berkshire investors have been questioning the motivations behind Warren Buffett’s sales of Apple shares. Some see valuation as the culprit. Others are asking if he is clearing the deck for his successor, or if he sees a crisis on the horizon. My story: ft.com/content/4ebb68…

It’s a new day on Wall Street. Investment shops including Blackstone and Elliott that struggled with financing deals in 2022 as markets seized up are taking advantage of the recent rally to pay themselves dividends and cut borrowing costs ft.com/content/631f4b…

Warren Buffett picks 3 potential new trustees to execute his will (in the event his children die before he does) ft.com/content/435e2b…

first Apollo, now Blackstone. Create equity JV with IG corporate, design waterfall, put the senior tranches on insurance balance sheet after getting a credit rating. Rinse, repeat: on.ft.com/3Z4TTy7

Breaking news: BlackRock, the world's largest asset manager, has a deal to buy private credit group HPS Investment Partners on.ft.com/3ZaBTCl

Blackrock has swung a heavy bat this year as Larry Fink's ambition in private capital has come into full view. Nearly $20bn of BLK's M&A uses its stock, underscoring the importance of a valid acquisition currency + cash. Eric Platt Brooke Masters ft.com/content/70a053…

New Financial Times big read with Valentina Romei & Will Crofton on why America’s economy is soaring ahead of its rivals US labour productivity has grown by 30% since the 2008-09 financial crisis, more than three times the pace in the Eurozone and the UK and far outstripping that of other

Banks are close to selling $3bn of loans backing Elon Musk’s takeover of Twitter, offloading another huge portion of the risk they’re holding. Demand has been so strong, they’ve eliminated a discount they had offered, expecting to price the loans at par ft.com/content/653bff…

You already know what I'm about to say. Golden age of private credit: Carwash rollup PC lenders never revalued marks while effectively in default for ~10 months before filing only 60 days after being marked in the 90s edition Tell me again about the default stats for BSL vs PC

Larry Fink briefed the White House including President Trump on BlackRock’s mega deal today to buy ports including in Panama from Hong Kong's CK Hutchison. Full details: Eric Platt Kaye Wiggins Chan Ho-him ft.com/content/b3a1ea…

BlackRock chief executive Larry Fink says US economy ‘weakening as we speak’ ft.com/content/44ea27…

A late Friday scoop: European buyout group CVC has explored a deal for $75bn private credit lender Golub Capital, sources tell the Financial Times. Story with Harriet Agnew Alexandra Heal Robert Smith ft.com/content/536ca1…

NEW: Apollo, in partnership with Citigroup, is leading an about $4bn unitranche Thoma Bravo is raising to carve out Jeppesen and other assets from Boeing. A BIG proof point on Apollo and Citi's $25bn lending partnership From Eric Platt and myself: ft.com/content/68e4a5…

the high quality M&A boom we were promised:

Scoop: Jane Street trading revenues nearly doubled in 2024 to more than $20bn and the boom continued into Q1 amid the tariff-induced market turmoil ft.com/content/24fea1…

Ken Griffin's Citadel Securities profits jump 70% to record $1.7bn in Q1 on surge in trading revenues - scoop here: ft.com/content/d0f4e9…

Elon Musk promised his bankers they would not lose money on the $13bn they lent to finance his Twitter takeover in 2022. The world’s richest man has now largely made good on his vow after Donald Trump’s re-election helped rescue the debt deal. ft.com/content/51c51b…

Excited to have gotten the word "fugazi" into the FT. The context, of course, is around xAI's $5bn debt raise and the slide deck with projections the company provided investors ft.com/content/57d5b7…?

story here: ft.com/content/e99253…

Policymakers in Washington are considering a multibillion-dollar tax break for private credit funds as part of President Donald Trump’s flagship spending plan, even as the bill would swell US debt and cut programmes such as medical care ft.com/content/1e633d…