Latest news with #SSGA
Yahoo
6 days ago
- Business
- Yahoo
Carlyle Announces Partnership With Citigroup on Asset-Backed Lending
Carlyle Group Inc. CG has announced a collaboration with Citigroup Inc. C to expand asset-backed financing opportunities within the fintech specialty lending space. Both companies have formalized a framework to exchange market intelligence and explore co-investment and financing opportunities to align strategic objectives and deepen integration. The collaboration will integrate Carlyle's extensive investment network with the expertise of Citigroup's Spread Products Investment in Technologies (SPRINT) team, a leading venture equity investor in fintech specialty lending. Akhil Bansal, head of asset-backed finance at Carlyle, stated that 'Demand for scalable and tailored asset-backed financing solutions from fintech lenders has increased as they mature and seek efficient ways to fund their growth.' Bansal further added that, 'By combining our deep credit and structuring expertise with Citi's leading presence in the fintech investment landscape, we're well-positioned to capture emerging opportunities and support the next generation of financial technology leaders.' On the other hand, Rajiv Amlani, head of Private Markets Coverage at Citigroup, further added that 'This collaboration leverages the best of both our firms. Through the scale of our franchise, we are uniquely positioned to unlock opportunities by bringing the dynamism of innovative tech platforms to an established global leader such as Carlyle.' Over the past three months, shares of Carlyle have risen 9% compared with the industry's growth of 1.1%. Image Source: Zacks Investment Research Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Last month, State Street Corporation's STT asset management arm, State Street Global Advisors ('SSGA'), entered a strategic alliance with smallcase. The alliance aims to expand global market access for Indian investors and enhance SSGA's presence in India's fintech sector. The partnership will provide STT's arm with a distribution opportunity for its SPDR ETFs by featuring them on smallcase's platform technology. This will enhance SSGA's global investment accessibility for Indian investors through technology-driven solutions. Similarly, in the same month, UBS Group AG UBS entered a strategic partnership with General Atlantic, a US-based investment firm, to focus on private credit opportunities. The collaboration between UBS and General Atlantic aims to expand the access of investing clients and borrowers to a broader range of direct lending and other credit products. By combining UBS's advisory and investment banking origination capabilities with General Atlantic's extensive global network, the partnership will create compelling private credit solutions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Citigroup Inc. (C) : Free Stock Analysis Report UBS Group AG (UBS) : Free Stock Analysis Report State Street Corporation (STT) : Free Stock Analysis Report Carlyle Group Inc. (CG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Reuters
23-05-2025
- Business
- Reuters
BlackRock says coal competition case risks US energy independence
LONDON, May 23 (Reuters) - U.S. government support for a "baseless" case alleging asset managers conspired to reduce competition in the coal sector risks undermining its goal of energy independence, BlackRock (BLK.N), opens new tab, the world's biggest asset manager, said on Friday. The U.S. Department of Justice and Federal Trade Commission on Thursday filed a statement of interest in the case by Texas and 12 other states against BlackRock and fellow large investors Vanguard and State Street Global Advisors (STT.N), opens new tab (SSGA). The states claim the companies used their substantial holdings in U.S. coal companies to discourage competition. "DOJ and FTC's support for this baseless case undermines the Trump Administration's goal of American energy independence," BlackRock said in a statement. "As we made clear in our earlier motion to dismiss, this case is trying to re-write antitrust law and is based on an absurd theory that coal companies conspired with their shareholders to reduce coal production," it said. "Forcing asset managers to divest from coal companies will harm their ability to access capital and invest in their businesses and employees, likely leading to higher energy prices." SSGA also called the case "baseless" in a separate statement, adding "we look forward to presenting the facts through the legal process. Additional filings do not change our assessment". In its own statement, Vanguard said it had "concerns with many of the legal interpretations promoted by the agencies", but that it "appreciates" their support for passive fund investing, shareholder advocacy for better corporate governance and active investing that doesn't harm competition. "The facts show Vanguard has stayed well within this construct," it said.
Yahoo
23-05-2025
- Business
- Yahoo
BlackRock says coal competition case risks US energy independence
LONDON (Reuters) -U.S. government support for a "baseless" case alleging asset managers conspired to reduce competition in the coal sector risks undermining its goal of energy independence, BlackRock, the world's biggest asset manager, said on Friday. The U.S. Department of Justice and Federal Trade Commission on Thursday filed a statement of interest in the case by Texas and 12 other states against BlackRock and fellow large investors Vanguard and State Street Global Advisors (SSGA). The states claim the companies used their substantial holdings in U.S. coal companies to discourage competition. "DOJ and FTC's support for this baseless case undermines the Trump Administration's goal of American energy independence," BlackRock said in a statement. "As we made clear in our earlier motion to dismiss, this case is trying to re-write antitrust law and is based on an absurd theory that coal companies conspired with their shareholders to reduce coal production," it said. "Forcing asset managers to divest from coal companies will harm their ability to access capital and invest in their businesses and employees, likely leading to higher energy prices." SSGA also called the case "baseless" in a separate statement, adding "we look forward to presenting the facts through the legal process. Additional filings do not change our assessment". In its own statement, Vanguard said it had "concerns with many of the legal interpretations promoted by the agencies", but that it "appreciates" their support for passive fund investing, shareholder advocacy for better corporate governance and active investing that doesn't harm competition. "The facts show Vanguard has stayed well within this construct," it said.
Yahoo
23-05-2025
- Business
- Yahoo
BlackRock says coal competition case risks US energy independence
LONDON (Reuters) -U.S. government support for a "baseless" case alleging asset managers conspired to reduce competition in the coal sector risks undermining its goal of energy independence, BlackRock, the world's biggest asset manager, said on Friday. The U.S. Department of Justice and Federal Trade Commission on Thursday filed a statement of interest in the case by Texas and 12 other states against BlackRock and fellow large investors Vanguard and State Street Global Advisors (SSGA). The states claim the companies used their substantial holdings in U.S. coal companies to discourage competition. "DOJ and FTC's support for this baseless case undermines the Trump Administration's goal of American energy independence," BlackRock said in a statement. "As we made clear in our earlier motion to dismiss, this case is trying to re-write antitrust law and is based on an absurd theory that coal companies conspired with their shareholders to reduce coal production," it said. "Forcing asset managers to divest from coal companies will harm their ability to access capital and invest in their businesses and employees, likely leading to higher energy prices." SSGA also called the case "baseless" in a separate statement, adding "we look forward to presenting the facts through the legal process. Additional filings do not change our assessment". In its own statement, Vanguard said it had "concerns with many of the legal interpretations promoted by the agencies", but that it "appreciates" their support for passive fund investing, shareholder advocacy for better corporate governance and active investing that doesn't harm competition. "The facts show Vanguard has stayed well within this construct," it said.
Yahoo
22-05-2025
- Business
- Yahoo
SSGA's Hung on Tariff Impact to the US Economy
State Street Global Advisors President and CEO Yie-Hsin Hung says she believes the recent tariff increases will likely have a negative impact on US economic growth and inflation. SSGA is one of the world's largest asset managers with nearly $5 trillion in assets under management. Hung speaks with David Rubenstein for an episode of Bloomberg Wealth. This interview was recorded April 3 in New York.
