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Citigroup reported its best quarterly revenue in a decade and a 56% year-over-year jump in earnings per share.
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Adams Street Partners has picked up $7.5bn including leverage for its third private credit fund, citing strong demand from both existing and new institutional backers.
The post Adams Street seals $7.5bn of new private credit firepower through new fund close appeared first on AltAssets Private Equity News.
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Since the start of the Iran conflict, investors around the world have been worried that tight global oil supplies and high prices could eventually lead to a drop in demand. According to the International Energy Agency, these risks are finally starting to materialize.
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Another Woman Accuses Eric Swalwell of Sexually Assaulting Her The New York TimesSen. Ruben Gallego alleges Eric Swalwell 'lied' and 'betrayed' him, says he never saw inappropriate behavior NBC NewsNew Eric Swalwell accuser Lonna Drewes says 'he raped me,' plans to file police report CNBCExclusive: Four women describe sexual misconduct by Rep. Eric Swalwell, including a former staffer who says he raped her CNN
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Most people view debt as something to be avoided at all costs. But that's because most people don't use debt properly. A prime example of improper debt use is the credit card. People charge too much, fail to pay the card in full at the end of the month, then find themselves unable to pay down the debt without also paying exceedingly high interest, often for years.
However, some kinds of debt, such as a securities-backed line of credit, or SBLOC, can be helpful. They can even save or earn you money. SBLOCs are rolling lines of credit based on the value of assets in your accounts. They're excellent ways to use debt to your advantage.
How Securities-Backed Lending Works
Borrowing money by collateralizing securities held in after-tax investment accounts is called securities-backed lending. The interest rate will often be lower than other types of loans, and you'll generally get access to funds in just a few days.
SEE MORE 3 Dated Rules of Thumb Retirees Should Think Twice About
However, as with almost anything, there are caveats to taking out an SBLOC. While you can keep buying and selling securities in the collateralized account, you can't use the loaned money for other securities-based dealings, such as trading or buying. And setting up an SBLOC will make it more challenging to move those collateralized assets to a different firm.
As an example of how SBLOCs can benefit you, suppose you need $75,000 for a one-time purchase of a car or a once-in-a-lifetime vacation. A typical way to acquire it would be to sell assets in a retirement account. That presents a number of drawbacks:
First, your income for that year would increase by $75,000 and could put you in a
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 Global stock markets drifted lower on Thursday as an increase in new coronavirus cases in some U.S. states and China crushed hopes of a swift economic comeback from the pandemic, underpinning demand for safe-haven currencies such as the dollar and Japanese yen.
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