Latest news with #KevinFoley
Yahoo
a day ago
- Business
- Yahoo
BlackRock Dissolves Private Credit Partnership With Mubadala in Asia
BlackRock Inc. BLK and Mubadala Investment have jointly agreed to end their Asian private credit collaboration, which focused on investments in China and Indonesia, due to challenges in sourcing deals. This was reported by Bloomberg, citing people familiar with the matter. As part of the partnership launched in 2023, Mubadala had committed to matching every U.S. dollar that BlackRock invested. The partnership has allocated only a small portion of its capital so far, as deal origination in China has been challenging, with the targeted return profile being in the mid-teens Ganis, head of private credit in Indonesia, departed in the early days of the partnership, making deal origination in the country more challenging. BlackRock has been aiming to boost its private markets capabilities to generate higher returns. In March 2025, it acquired Preqin for $3.2 billion to enhance its private markets offerings. In December 2024, it agreed to acquire HPS Investment Partners to deepen its presence in the private credit market. In October 2024, the company acquired Global Infrastructure Partners to enhance its infrastructure offerings and origination in its investor presentation last month, BLK predicted that the private credit market could expand to $4.5 trillion by 2030, and hence it targeted $400 billion in private markets fundraising by that time. Recently, BLK got selected by Great Gray Trust Company, LLC to offer a retirement solution featuring private equity and credit has also collaborated with Partners Group to combine a varied pool of private assets into a single portfolio of alternatives for retail clients. Over the past year, BLK shares have gained 33%, outperforming the industry's 20.7% growth. Image Source: Zacks Investment Research Currently, BlackRock carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. This February, JPMorgan JPM announced an additional $50 billion allocation toward direct lending, solidifying its presence in the credit market. The move, unveiled at its 30th annual Global Leveraged Finance Conference, signals the company's intent to become a dominant force in private 2021, JPMorgan has deployed more than $10 billion across 100+ private credit transactions, leveraging its extensive client base and vast origination platform. The bank's partnerships with multiple co-lenders have further strengthened its position, bringing in an additional $15 billion in capital. According to Kevin Foley, global head of Capital Markets at JPM, the company's ability to integrate its origination platform with lender partners has significantly increased deal flow and lending 2024, Citigroup C inked a deal with Apollo Global APO for its subsidiary and certain affiliates of Apollo to establish a revolutionary $25-billion private credit, direct lending program. The program will initially focus on North America, potentially expanding to additional geographies. Both Citigroup and Apollo expect the program to finance approximately $25 billion of debt opportunities over the next several years, including corporate and financial sponsor transactions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Citigroup Inc. (C) : Free Stock Analysis Report BlackRock (BLK) : Free Stock Analysis Report Apollo Global Management Inc. (APO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research 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
Yahoo
09-06-2025
- Health
- Yahoo
High school student airlifted to safety after rattlesnake bite on remote fishing trip
A high school student was airlifted to the hospital after being bitten by a rattlesnake while on a remote fishing trip in North Carolina. Zain Shah, 17, was hiking in the Pisgah National Forest when he was bitten by the snake about two miles from the nearest road. A North Carolina National Guard Blackhawk was dispatched to the area along with a rescue team. The rattlesnake bit him around 5 p.m. on June 5 while he was walking along Lost Cove Creek. He was later airlifted to Johnson City Medical Center in Tennessee, according to The News & Observer. The teenager was hiking with his friend Kevin Foley, 18. The two had planned to fish until it got dark and then camp for the evening. 'At the point where we were about to turn back, I stepped over a log and as my foot landed, I felt a prick,' he told the newspaper. 'It was painless. I looked down and see a rattlesnake sitting there. I think: 'No way that just happened.' But I rolled down my sock and see two red dots and blood coming out. I knew it was potentially deadly.' Zain Shah did not have cell service but used his friend's phone to dial 911. A dispatcher told him it would be too dangerous for him to try to walk back to his vehicle. It's believed the teen, who took a photo of the reptile, was bitten by a timber rattlesnake. The reptile can reach up to seven feet and has venom that is 'potent enough to kill a human,' according to the Smithsonian's National Zoo & Conservation Biology Institute. After the reptile bit him, Zain Shah said his body began to tingle and he developed pins and needles. At one point, he thought he was going into shock. It took two hours for rescuers to reach him. He told the outlet he did not have a strong reaction to the bite, leading medical professionals to believe it may have been a dry bite, which means either little or no venom was released. Still, bloodwork later confirmed he was still at risk of uncontrolled bleeding. Medical professionals administered 12 vials of antivenom over three days in the hospital, he told the outlet. Zain Shah, who is due to graduate from high school later this month, is grateful to the first responders and his friend for coming to his aid. 'All of them saved my life,' he said. 'I wouldn't be here without the help of so many people. I have ventured alone into the mountains before, but I'll never do that again. The buddy system only from now on, but this will not keep me from going back out there.' His father took to social media to also thank the medical team. 'What started as a fun end-of-high-school fishing trip for my son and his buddy in the western North Carolina mountains turned deadly when he was bitten by a timber rattlesnake deep in the woods,' Imran Shah wrote on Facebook. 'I'm beyond grateful for the incredible NCHART and Linville-Central Rescue teams, who got to them in the middle of nowhere and saved his life! He was air-lifted to and treated at Johnson City Medical Center, Tennessee, and is now recovering at home. We are forever in your debt.'
The Independent
09-06-2025
- Health
- The Independent
High school student airlifted to safety after rattlesnake bite on remote fishing trip
A high school student was airlifted to the hospital after being bitten by a rattlesnake while on a remote fishing trip in North Carolina. Zain Shah, 17, was hiking in the Pisgah National Forest when he was bitten by the snake about two miles from the nearest road. A North Carolina National Guard Blackhawk was dispatched to the area along with a rescue team. The rattlesnake bit him around 5 p.m. on June 5 while he was walking along Lost Cove Creek. He was later airlifted to Johnson City Medical Center in Tennessee, according to The News & Observer. The teenager was hiking with his friend Kevin Foley, 18. The two had planned to fish until it got dark and then camp for the evening. 'At the point where we were about to turn back, I stepped over a log and as my foot landed, I felt a prick,' he told the newspaper. 'It was painless. I looked down and see a rattlesnake sitting there. I think: 'No way that just happened.' But I rolled down my sock and see two red dots and blood coming out. I knew it was potentially deadly.' Zain Shah did not have cell service but used his friend's phone to dial 911. A dispatcher told him it would be too dangerous for him to try to walk back to his vehicle. It's believed the teen, who took a photo of the reptile, was bitten by a timber rattlesnake. The reptile can reach up to seven feet and has venom that is 'potent enough to kill a human,' according to the Smithsonian's National Zoo & Conservation Biology Institute. After the reptile bit him, Zain Shah said his body began to tingle and he developed pins and needles. At one point, he thought he was going into shock. It took two hours for rescuers to reach him. He told the outlet he did not have a strong reaction to the bite, leading medical professionals to believe it may have been a dry bite, which means either little or no venom was released. Still, bloodwork later confirmed he was still at risk of uncontrolled bleeding. Medical professionals administered 12 vials of antivenom over three days in the hospital, he told the outlet. Zain Shah, who is due to graduate from high school later this month, is grateful to the first responders and his friend for coming to his aid. 'All of them saved my life,' he said. 'I wouldn't be here without the help of so many people. I have ventured alone into the mountains before, but I'll never do that again. The buddy system only from now on, but this will not keep me from going back out there.' His father took to social media to also thank the medical team. 'What started as a fun end-of-high-school fishing trip for my son and his buddy in the western North Carolina mountains turned deadly when he was bitten by a timber rattlesnake deep in the woods,' Imran Shah wrote on Facebook. 'I'm beyond grateful for the incredible NCHART and Linville-Central Rescue teams, who got to them in the middle of nowhere and saved his life! He was air-lifted to and treated at Johnson City Medical Center, Tennessee, and is now recovering at home. We are forever in your debt.'
BBC News
08-05-2025
- Business
- BBC News
Fakenham's first McDonald's allowed despite opposition
Plans for a town's first McDonald's have been approved by a council for the second time, after concerns were raised over its proximity to schools. North Norfolk District Council originally approved the application in March for a new drive-through fast food restaurant on Holt Road in Fakenham, Norfolk. Opponents, however, claimed the authority had not adequately considered the potential adverse health effects the restaurant could have, due to its position near a number of schools. Despite the opposition, the application has been approved for a second time. The planning proposal was put forward by Kevin Foley, who already owns 13 branches of McDonald's in Norfolk as a franchise. While the proposal had been debated by councillors, according to the National Planning Policy Framework, which guides planning decisions, councils should refuse applications for fast-food outlets "within walking distance" of schools, the Local Democracy Reporting Service said. The proposed McDonald's is within a 20-minute walk of Fakenham Academy, Duke of Lancaster Academy, Fakenham Junior School and Fakenham Infant and Nursery School. Following a complaint over the handling of the application, the authority agreed to reconsider the proposals at a planning committee meeting. Despite this, council officials determined all four schools were a suitable distance living in the area also previously expressed concern over increased traffic, noise, litter and competition for local businesses. The site would create up to 120 full and part-time jobs, McDonald's said. Follow Norfolk news on BBC Sounds, Facebook, Instagram and X.
Reuters
24-02-2025
- Business
- Reuters
JPMorgan sets aside $50 billion more for direct lending push
Feb 24 (Reuters) - JPMorgan Chase (JPM.N), opens new tab said on Monday it was setting aside another $50 billion for its direct lending push, as the Wall Street giant looks to expand its foothold in the rapidly growing private credit market. Traditional lenders such as JPMorgan, Citigroup (C.N), opens new tab, and Wells Fargo (WFC.N), opens new tab are rushing to grab a bigger slice of the booming market that has been dominated by private capital providers. The asset class is expected to expand, opens new tab to $3 trillion by 2028, reflecting stronger momentum than in the past two years, according to Moody's. JPMorgan, since 2021, has already deployed over $10 billion across more than 100 private credit transactions serving corporate and sponsor clients, the bank said. It has also tied up with multiple co-lending partners that have allocated nearly $15 billion more to the private credit push. "Pairing our vast origination platform with our lender client base has supercharged our ability to deliver in size for borrowers and increased deal flow for lenders," said Kevin Foley, global head of capital markets at JPMorgan. Banks have increasingly also joined forces with investment firms to further their push into the private credit market. Citigroup last year teamed up with asset management giant Apollo (APO.N), opens new tab for a $25 billion private credit platform, while Wells Fargo in 2023 partnered with investment firm Centerbridge Partners on a $5 billion direct lending fund. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.
