Latest news with #BloombergInvest
Yahoo
8 hours ago
- Business
- Yahoo
Wall Street Giant Hunts Japan's $7.4 Trillion Piggy Bank
Apollo Global Management (NYSE:APO) is going all in on Asia. At the Bloomberg Invest conference in Hong Kong, Asia-Pacific head Matthew Michelini laid out a vision centered on high-net-worth individuals and untapped retirement capital across the region. Japan alone holds $7.4 trillion in household cash deposits. Australia's pension system is on track to become the world's second-largest by 2030. It's ripe for what we provide, Michelini said, noting Apollo plans to massively expand its team in Japan and deepen its presence across Hong Kong and Singapore. Warning! GuruFocus has detected 8 Warning Signs with APO. The shift isn't just demographicit's strategic. From 2022 to 2024, Apollo raised $35 billion in Asia by partnering with insurers and pension managers, much of it funneled into private credit via its insurance unit Athene. Michelini says that private credit in Asia is commanding a premiumtypically 150 to 200 basis points above public debtand the firm is ramping up capital deployment in places like Australia and Southeast Asia. These markets, he argued, offer spreads on par with the US and Europe, but with stronger long-term financing demand and less competition. What's pushing this capital east? Trade turbulence. According to Michelini, investors who previously planned to put $100 into US assets are now allocating $70 to the US and sending the remaining $30 to Asiamostly India and Australia. For Apollo, this macro rebalancing could be a once-in-a-decade opening. As global supply chains rewire and infrastructure needs balloon, the firm's private credit strategy is positioning itself not just as a yield play, but as a core pillar of Asia's next growth cycle. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
9 hours ago
- Business
- Yahoo
Wall Street Giant Hunts Japan's $7.4 Trillion Piggy Bank
Apollo Global Management (NYSE:APO) is going all in on Asia. At the Bloomberg Invest conference in Hong Kong, Asia-Pacific head Matthew Michelini laid out a vision centered on high-net-worth individuals and untapped retirement capital across the region. Japan alone holds $7.4 trillion in household cash deposits. Australia's pension system is on track to become the world's second-largest by 2030. It's ripe for what we provide, Michelini said, noting Apollo plans to massively expand its team in Japan and deepen its presence across Hong Kong and Singapore. Warning! GuruFocus has detected 8 Warning Signs with APO. The shift isn't just demographicit's strategic. From 2022 to 2024, Apollo raised $35 billion in Asia by partnering with insurers and pension managers, much of it funneled into private credit via its insurance unit Athene. Michelini says that private credit in Asia is commanding a premiumtypically 150 to 200 basis points above public debtand the firm is ramping up capital deployment in places like Australia and Southeast Asia. These markets, he argued, offer spreads on par with the US and Europe, but with stronger long-term financing demand and less competition. What's pushing this capital east? Trade turbulence. According to Michelini, investors who previously planned to put $100 into US assets are now allocating $70 to the US and sending the remaining $30 to Asiamostly India and Australia. For Apollo, this macro rebalancing could be a once-in-a-decade opening. As global supply chains rewire and infrastructure needs balloon, the firm's private credit strategy is positioning itself not just as a yield play, but as a core pillar of Asia's next growth cycle. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
19 hours ago
- Business
- Mint
Canada's Ex-Minister Urges Better China Ties to Hedge US Risks
Canada should bolster ties with China to hedge against uncertainty from US President Donald Trump's approach to bilateral relations, according to a former top Canadian official. 'Who are the other reliable partners we have in the world?' said Bill Morneau, who served as finance minister under former Canadian Prime Minister Justin Trudeau through 2020. Noting that China is Canada's second-largest trading partner, after the US, he said it's no surprise that Prime Minister Mark Carney is looking to build 'a more stable and expansive trading relationship with China and other countries.' Morneau's comments come as Canada seeks to diversify its economic partnerships while talks with the US drag on. Earlier this month, Carney spoke with Chinese Premier Li Qiang about trade and tackling the fentanyl crisis in a sign of warming ties. Carney's government also invited Saudi Crown Prince Mohammed bin Salman to the Group of Seven leaders' summit in Alberta this weekend. Morneau, speaking Wednesday at the Bloomberg Invest conference in Hong Kong, said that while Ottawa should look to reach a trade deal with Washington and maintain strong ties, officials also need to protect the economy and Canada's own interests from the currently 'very volatile' relationship with its southern neighbor. Canadian and US officials have been holding trade talks for months, with Trump and Carney in direct contact ahead of the G-7 meeting beginning June 15. The two sides are looking to negotiate a deal to ease tariffs on each other's goods. Meanwhile, many of the issues Trump has raised, including undocumented migration into the US, don't relate to Canada, Morneau said. 'My expectation is that much of this is obviously posturing,' said Morneau, who was also previously governor of the International Monetary Fund and World Bank. The renegotiation of the trade agreement between the nations will likely include greater access into Canada's protected dairy market and an increased Canadian role in NATO, Morneau said, while any major change to natural-resource sharing — such as Canadian fresh water — is off the table. Carney this week announced a boost to defense spending to meet NATO's target this year, saying it's needed in a 'darker, more competitive world.' Trump has called for all countries to increase their share of global military spending in order to rely less on the US. 'You want to get to as best you can with as many partners as you can, whether its with China or with other parts of the world,' Morneau said. This article was generated from an automated news agency feed without modifications to text.
Bloomberg
a day ago
- Business
- Bloomberg
Indian Investors Are Moving to Alternatives, Kotak Mahindra Says
Gautami Gavankar, president of Kotak Mahindra Bank Ltd., says Indian investors are increasingly considering alternative assets and private credit. Real estate plays, private equity funds like pre-IPO funds, infrastructure funds and special situation funds are also gaining traction, she tells the audience at the Bloomberg Invest conference in Hong Kong. (Source: Bloomberg)
Yahoo
a day ago
- Business
- Yahoo
Apollo's Michelini on Japan Insurance, Consumer Trends
Apollo Global Management's Matthew Michelini says the Japanese insurance industry is "really interesting" right now and adds that "accessing retail consumers is one of the biggest opportunity sets." He discusses his views in a conversation with Sonali Basak at the Bloomberg Invest conference in Hong Kong. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
