Developed markets have a debt problem — some investors are looking elsewhere

Hitting the history books once again 

Just asking for a private credit fund friend

Hiring star bankers and letting them bring their own posse has had mixed results

Also in today’s newsletter, Santander’s Wall Street ambitions and OnlyFans’ revenues surge as it explores sale

Plus, Thoma Bravo’s $12bn software deal and Jefferies overhauls banker bonuses

European Commission proposals include clear improvements such as new punishments on investors who fall short

Individuals should be wary of the Trump administration’s plans to broaden the access to the asset class

Developing world stocks outperform US as dollar languishes at three-year lows

Sell-off provides a reminder of the risks of the sector’s dominance in public and private markets

Avoid the hype — most companies are seeing no return on generative AI spending

Partnership with Midjourney marks shift away from internal product development

Reinsurance trade group lobbies US commerce secretary about potential impact to monitoring hurricanes and drought conditions

Proposal to weaken rules follows exodus of members since Trump election

Letters were sent to South Africa, Indonesia and Vietnam about withdrawal

Policymakers and banking industry should push for convergence on rules

European Commission proposals include clear improvements such as new punishments on investors who fall short

It is still a struggle for management and regulators to get a clear view of what is really happening inside lenders

Mario Greco says asset-gathering philosophy of groups such as Apollo and KKR will meet resistance

Plus, Apollo’s finger-pointing game and London’s bankers get creative

US life insurers’ related-party assets have come under scrutiny as private equity has piled into the sector

How wealthy taxpayers are trying to shield their assets from an increasingly cash-strapped UK Treasury

Historic items including Picassos are available for viewing, but out-of-date HMRC records render many inaccessible

Report published in association with Henley & Partners criticised for use of LinkedIn data and definition of ‘private wealth’

Governments of African countries need to adapt to the cuts in assistance; development finance institutions could fill gaps left by the retreat of aid; Japan eyes low-cost debt to mitigate aid cuts; Malawi introduces teaching tablets to children across the country

A new series examining common management challenges and featuring two case studies of executives who have encountered them, in the past and present

A monthly series that examines how the legal ecosystem uses new technologies to serve fast-changing business needs. This month: the response to generative AI from alternative legal services businesses

Sketchy stocks are soaring… and crashing

Tech accounts for 40 per cent of the value of the S&P 500. Is that too much?

Wall Street climbs a wall of worry