Investments

The giant asset manager is launching new CLO funds that generate higher returns without significantly increasing risk–by focusing on the less-favored tiers of CLO stacks.

The bond market in the past month has been caught between signs that US economic growth is slowing.

He also reiterated that he and Trump are focused on bringing down 10-year Treasury yields, rather than on the Fed's short-term benchmark rate.

The fund closes ahead of separate news that it formed the Private Real Estate Credit platform, which will originate senior and subordinated commercial real estate loans.

Rubin, who oversaw a shift to budget surpluses as Treasury chief under Democrat Bill Clinton in the 1990s after serving as co-chairman of Goldman Sachs Group Inc., said that while some federal spending can be cut, "as a practical matter" there's insufficient scope for that to rein in deficits.

Alternative asset managers, emboldened by the boom, will continue buying life insurers or seek more partnerships with them as they hunt for more capital to feed their dedicated funds.

The rally gained additional pace late in the session after President Donald Trump said there was no room left for a deal on Canada and Mexico tariffs ahead of their effective date Tuesday.

Apollo will assume about $2.2 billion of private credit and renewable assets from Irradiant, while RRAM will add almost $11 billion of CLO assets to its firm.

Treasuries gained for a sixth straight session. Morgan Stanley say the 10-year has scope to fall back below 4% if the prevailing view on the Fed shifts.

With that sizable fire power, Alcentra hopes to meet the growing market demand for collateralized loan obligations.