The Dallas City Council approved an economic incentive package that would grant the bank up to $18.5 million in economic development grants.
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The firm estimates that gross outflows from Apollo Debt Solutions will be roughly $700 million for the quarter.
The six portfolios will be made of ETFs and interval funds managed by Apollo, Franklin Tempelton and JPMorgan.
Most of JPMorgan’s big banking peers don’t have NAV loan agreements that let them proactively revalue assets.
Papa Johns said last month it’ll close more than 300 stores by the end of next year, following declining sales over the past two years.
Ackman’s move comes at a time when many young retail investors have grown tired of their classic stock-and-bond portfolios.
For prospective buyers, this could lead to not having to go up against, say, Blackstone, when you put in a bid for a home.
The recent investment from private equity firms could help protect Keurig Dr Pepper from activist investors like Starboard.
The announcement follows the introduction of a public and private ETF from State Street and Apollo last month.
The next frontier for private credit may be the mass market where fund managers are launching new products, like exchange-traded funds.
New filings with the Securities and Exchange Commission are requesting permission to launch ETFs that hold both public and private assets.
Fidelity has hired an industry veteran to lead one of the world’s largest professional networks of family offices.
BlackRock is acquiring HPS Investment Partners in a deal that could increase its private assets under management to $600 billion.
The asset managers are hoping to offer the first private asset ETF and open up alternative investments to the masses.