事件概述 - 贝莱德旗下HPS Investment Partners及其他贷款机构因一起据称“惊人”的欺诈案而寻求追回数亿美元资金 这揭示了美国债务市场一个不透明领域的弱点 [1] - 贷款机构指控商人Bankim Brahmbhatt伪造发票和应收账款 以此作为其电信服务公司Broadband Telecom和Bridgevoice总计超过5亿美元贷款的抵押品 [3] - 该涉嫌欺诈计划已成为8月一起诉讼和多项破产案的主题 Brahmbhatt通过其律师否认了欺诈指控 [3] 欺诈案细节 - HPS在发现贷款抵押品涉嫌造假后 已将其约1.5亿美元的风险敞口减记至零 [7][8] - 法国巴黎银行协助提供了近一半的融资 并为其“特定信贷情况”计提了1.9亿欧元（合2.2亿美元）的贷款损失拨备 [7][8] - 调查发现 Brahmbhatt公司在过去两年中为验证发票而提供的所有客户电子邮件均为伪造 比利时公司BICS书面确认相关发票为“欺诈企图” [14] - 贷款机构律师在诉状中称“Brahmbhatt制造了一个仅存在于纸面上的复杂资产负债表” [14] 事件影响与后续 - Brahmbhatt旗下公司（Broadband Telecom、Bridgevoice和Carriox Capital）及相关实体已于8月申请第11章破产保护 [7][15] - 贷款机构指控数百万美元的抵押资产在违约前被悄然转移至印度和毛里求斯的离岸账户 同日 Brahmbhatt本人也申请了个人破产保护 [15] - 据信Brahmbhatt已前往印度 [16] - 对贝莱德和HPS而言 直接财务影响似乎不大 该风险敞口仅占公司1790亿美元管理资产的很小一部分 不会对基金表现产生实质性影响 [10][16] 行业背景与影响 - 此次争议核心是资产支持融资 这是私人信贷的一种形式 贷款以借款企业现金流或应收账款为担保 该市场随着全球私人信贷热潮已膨胀至超过1.7万亿美元 [4] - 一系列崩溃事件（包括First Brands和Tricolor Auto Group的破产）引发担忧 即私人贷款机构的尽职调查标准可能被放宽 [5] - 摩根大通首席执行官Jamie Dimon等金融业巨头据此发出警告 认为一个问题可能预示着更多问题 [6] - 然而 如Blue Owl Capital Inc的Marc Lipschultz等私人信贷高管则反驳称 并未看到违约率上升 并指出最引人注目的问题出现在银行主导的贷款中 [6] - 该事件凸显了即使最大的资产管理公司在向直接贷款投入数十亿美元时 也难以控制风险 对规模已可与杠杆贷款市场媲美的更广泛的私人信贷行业而言 声誉损害可能更为持久 [10][16]

Digesting the first batch of Mag 7 earnings… Presidents Trump and Xi sign off on a trade framework… nuclear stocks jump on news of U.S. government buildout… beware of the “cockroaches”VIEW IN BROWSERComing into this week, one of the big questions was “Will the Magnificent Seven post earnings that keep the market party going?”We’ve now got part of the answer.“Sort of.”After yesterday’s closing bell, three of the Magnificent Seven posted quarterly results. While the numbers were mostly impressive, the size of ...

Blue Owl Capital (NYSE:OWL) Q3 2025 Earnings Call October 30, 2025 10:00 AM ET Company ParticipantsMarc Lipschultz - Co-CEOPatrick Davitt - PartnerSteven Chubak - Manging DirectorChris Kotowski - Managing DirectorAlan Kirshenbaum - CFOBenjamin Budish - DirectorCraig Siegenthaler - Managing DirectorBrian Bedell - DirectorAnn Dai - Managing Director and Head of Investor RelationsBrian Mckenna - Director of Equity ResearchAlex Blostein - Managing DirectorConference Call ParticipantsGlenn Schorr - Senior Managi ...

Blue Owl Capital (NYSE:OWL) Q3 2025 Earnings Call October 30, 2025 10:00 AM ET Company ParticipantsMarc Lipschultz - Co-CEOPatrick Davitt - PartnerSteven Chubak - Manging DirectorChris Kotowski - Managing DirectorAlan Kirshenbaum - CFOBenjamin Budish - DirectorCraig Siegenthaler - Managing DirectorBrian Bedell - DirectorAnn Dai - Managing Director and Head of Investor RelationsBrian Mckenna - Director of Equity ResearchAlex Blostein - Managing DirectorConference Call ParticipantsGlenn Schorr - Senior Managi ...

Blue Owl Capital (NYSE:OWL) Q3 2025 Earnings Call October 30, 2025 10:00 AM ET Speaker5Good morning and welcome to Blue Owl Capital's third quarter 2025 earnings call. During the presentation, your lines will remain on listen only. After the presentation, there will be a question and answer session. To ask a question, please press star one on your telephone keypad. I'd like to advise all parties that this conference call is being recorded. I will now turn the call over to Ann Dai, Head of Investor Relations ...

Oct 30, 2025 6:00 AM Eastern Daylight Time Monroe Capital Supports Westbourne Capital Partners' Acquisition of Harvey Vogel, a Metal Fabrication Company Share CHICAGO--(BUSINESS WIRE)--Monroe Capital LLC ("Monroe†) announced it led the debt financing and made an equity co-investment to support the acquisition of Harvey Vogel Manufacturing Co., ("Harvey Vogel†), a metal fabrication platform, by Westbourne Capital Partners LLC ("Westbourne†). Harvey Vogel is a leading high-precision stamper and fabricat ...

Thomas Nides, Vice Chairman at Blackstone, discusses the investment opportunities in private credit markets. He speaks with Haslinda Amin from the sidelines of the Barclays Asia Forum in Singapore. ...

Moelis & Company (NYSE:MC) Q3 2025 Earnings Call October 29, 2025 05:00 PM ET Speaker6Good afternoon and welcome to the Moelis & Company earnings conference call for the third quarter of 2025. To begin, I'll turn the call over to Mr. Matt Tsukroff.Speaker2Good afternoon and thank you for joining us for Moelis & Company's third quarter 2025 financial results conference call. On the phone today are Navid Mahmoodzadegan, CEO and Co-Founder, and Chris Callesano, Chief Financial Officer. Before we begin, I would ...

First Brands' Fram air filters at an auto parts store in Provo, Utah. Recent failures in the credit markets, including First Brands Group and Tricolor Holdings, have fueled a frenzy around how much risk is sitting in private debt portfolios. But for Ares Management Corp. executives, the losses actually make private credit look good, while presenting an opportunity to snag more deals. Neither of the collapses are “really impacting our market that much so far,” Kort Schnabel, the chief executive officer of ...

Ares Capital (NasdaqGS:ARCC) Q3 2025 Earnings Call October 28, 2025 12:00 PM ET Company ParticipantsBrian McKenna - DirectorJohn Hecht - Managing DirectorJim Miller - PresidentKort Schnabel - CEOJohn Stilmar - Partner and Co-Head of Public Markets Investor RelationsScott Lem - CFOMelissa Wedel - VP of U.S. Equities ResearchEthan Kaye - VP of Equity ResearchConference Call ParticipantsDoug Harter - AnalystArren Cyganovich - Senior AnalystPaul Johnson - Equity Research AnalystSean-Paul Adams - Equity Research ...