Wealth management

TCW is launching a real estate debt strategy as it seeks to grow its alternatives business and compete with other money managers moving into the $1.6 trillion private credit industry.

Analysts say lenders' shares could rally on deregulation, lighter tax burdens and a resurgence of M&A. Declining interest rates and lower loan losses could further bolster bottom lines and attract investor interest.

Clients have been yanking their cash since the Pasadena, California-based company said on Aug. 21 that Leech was going on leave after he received a notice from the SEC that it may recommend enforcement action.

Anticipated interest rate cuts could help stressed borrowers, but such a shift in monetary policy may curb lending income.

The sale of the $318 million-asset portfolio comes five weeks after the Greenville, South Carolina-based company agreed to sell its investment advisory unit.

The pension plan's investment is a show of support from one of the world's largest private markets investors for the securities.

With Theorem, Pagaya's fund management business is expected to grow to more than $3 billion of capital

Transportation, automotive, healthcare, and commercial real estate are the sectors most affected, but borrowers are doing better than expected.

Bank stocks are up this year as interest rates have leveled off and there are hopes that pressure on lenders' profits could moderate.

Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies.