Latest news with #CarmenArroyo
Bloomberg
20-07-2025
- Business
- Bloomberg
DOJ Probing for Collusion in CLO Market During Libor Transition
By and Carmen Arroyo Save The US Justice Department is conducting a criminal antitrust investigation into whether some investors in collateralized loan obligations colluded to bolster their positions as markets transitioned away from the scandal-plagued London interbank offer rate in early 2023, according to people familiar with the matter. Antitrust prosecutors in New York have sent subpoenas to financial firms as they seek to determine whether investors with an equity stake in the $1.3 trillion CLO market illegally coordinated as the underlying buyout debt was repriced, said the people, who asked not to be identified discussing the confidential probe. The investigation was opened about a year-and-a-half ago, the people said.
Yahoo
27-06-2025
- Business
- Yahoo
JPMorgan Traders Get Shut Out of Private Credit Market
JPMorgan traders send out a list of dozens of loans they're looking to buy about once a month and then fail to get their hands on a single one on most occasions. The problem is almost no one in private credit is willing to sell, let alone to a Wall Street bank. Carmen Arroyo has more in today's "Big Take" on Bloomberg Television.
Bloomberg
17-06-2025
- Entertainment
- Bloomberg
Elon, Inc: Can ‘MAMUWT' Be to Musk What ‘TACO' Is to Trump?
On this week's episode of Elon, Inc., host David and Max chat about the latest Musk-Trump drama. A detente had just emerged when we last recorded, and now it feels like it's just a matter of time before Musk (and little X) are back in the Oval Office sparring with reporters (and playing on the floor). Will the apologies help Musk secure eased restrictions for self-driving cars and access to Star Wars 2.0 (Trump's 'golden dome' project)? And will Max and David be able to introduce MAMUWT (Musk Always Makes Up With Trump) into the lexicon alongside TACO (Trump Always Chickens Out)? What about MADRA (Musk Always Delays Robotaxi Announcements)? Meanwhile, xAI is in talks to raise $4.3 billion (on top of the $5 billion it's been trying to raise) since the company has already spent most of the $14 billion it previously raised. Commitments on the debt sale are due Tuesday. Bloomberg's Carmen Arroyo joins the crew to break down what it means for the future of Musk's company.
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Business Standard
17-06-2025
- Business
- Business Standard
Elon musk's xAI in talks to raise $4.3 billion via fresh equity funding
Carmen Arroyo and Jill R. Shah Elon Musk's artificial intelligence startup xAI is in talks to raise $4.3 billion through an equity investment on top of the $5 billion it has recently been trying to borrow from debt investors, according to information the company shared with investors who asked not to be identified because it is private. Musk's company, which is responsible for the AI chatbot Grok, needs the new money, in part, because it has already spent most of what it previously raised, the materials shared with investors indicate. Between its founding in 2023 and when the debt sale was launched this year, xAI raised $14 billion via equity fundraising, according to the materials. But as of March 31, only $4 billion of that was left on the company's balance sheet, the information showed. The new equity infusion is luring investors back into xAI's debt offering, which was being circulated just as Musk's public spat with President Donald Trump was playing out. The company has also offered changes to the debt documents to assuage investors' concerns, people familiar with the matter said. The changes make it more difficult for xAI to shift assets, which protects lenders' collateral, and also set a ceiling on the amount of secured debt it can raise, the people added. Commitments on the $5 billion debt sale are due Tuesday, according to a different person with knowledge of the matter. In addition to the fresh funding, xAI may also get a $650 million rebate from one of its manufacturers that will help the firm cut costs, people familiar with the matter said. A spokesperson for the company declined to comment, as did a spokesperson for Morgan Stanley, the bank in charge of xAI's debt sale. Huge fundraising rounds have become a standard feature of the fiercely competitive artificial intelligence industry, in which the top players are jockeying to secure the expensive computer chips and infrastructure needed to train advanced AI models like Grok and ChatGPT. Despite the big spending, potential xAI investors have been told that the company's valuation grew to $80 billion at the end of the first quarter, up from $51 billion at the end of 2024. Investors in previous rounds have included Andreessen Horowitz, Sequoia and VY Capital.
Bloomberg
23-05-2025
- Business
- Bloomberg
Spate of New Deals Unveil Deep Shift in Private Equity Takeovers
Welcome to Going Private, Bloomberg's twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we examine the growing convergence of private and public markets, bleak prospects for up-and-coming venture capitalists and a rare private credit auction. But first, a look at how private equity firms are revolutionizing the way they finance buyouts. If you're not already on our list, sign up here. Have feedback? Email us at goingprivate@ — Erin Fuchs, Carmen Arroyo and Davide Scigliuzzo Times are tough for private equity. Endowments and pensions have reined in their PE allocations, and a protracted lull in deals and initial public offerings have slowed fundraising.
