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Commodities

KKR, South Korea-Based SK Launch Renewable Platform With Plans for 10-GW Capacity

South Korean investment firm SK has signed agreements enabling funds it managed jointly with KKR (KKR), to launch the country's largest renewable energy platform valued at 2 trillion Korean won ($1.3 billion), the companies said on Tuesday.The platform will bring together existing SK renewables assets that span solar, onshore and offshore wind plus fuel cells, into a single, integrated platform, tapping into SK and KKR's respective areas of operational and investment expertise, a statement said.The launch deepens a long-term relationship between the two companies and will help Korea meet surging demand for clean power from AI data centers, semiconductor production lines and other industries.Initially, KKR will have management control of the platform while SK will participate as an equity investor with the option to pursue control rights at a later date.The platform will become Korea's largest renewable energy business with about 1.7 gigawatts of capacity in operation and a development pipeline that would take that total to 10 GW.

$KKR
Sectors

Sector Update: Financial Stocks Edge Lower Late Afternoon

Financial stocks edged down in late Tuesday afternoon trading, with the NYSE Financial Index 0.1% lower and the State Street Financial Select Sector SPDR ETF (XLF) easing 0.2%.The Philadelphia Housing Index was down 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.4%.Bitcoin (BTC-USD) was falling 2.7% to $58,557, and the yield for 10-year US Treasuries fell 1 basis point to 4.39%.In economic news, US job openings rose to 7.594 million in May, according to the Bureau of Labor Statistics, above the 7.296 million openings expected in a Bloomberg-compiled survey and up from the 7.585 million openings reported in April.The Conference Board's measure of consumer confidence rose to 91.2 in June from a downwardly revised 90.6 in May, below the 94.4 expected in a Bloomberg-compiled poll.The Institute for Supply Management's Chicago PMI fell to 56.7 in June from 62.7 in May, compared with the expected 55.1 reading in a Bloomberg survey.In corporate news, Houlihan Lokey (HLI) agreed to acquire Intrepid Financial Partners, an investment bank specializing in advisory services for the energy sector, for an undisclosed amount. Houlihan Lokey shares rose 1%.Helix Infrastructure Partners, a new AI infrastructure firm backed by KKR (KKR) and Nvidia (NVDA), is looking to buy a data center company to quickly bring new data center space to hyperscalers, The Information reported. KKR shares climbed 3.3%.Ares Management (ARES) and Alibaba (BABA) co-founder Joe Tsai led a $100 million investment in the Premier Lacrosse League, valuing the league at more than $500 million, Bloomberg reported. Ares shares gained 4%.Lloyds (LYG) is planning to raise its focus on workplace pensions to boost its wealth segment as part of its five-year strategy through 2030, Bloomberg reported. Shares added 1.5%.

$ARES$HLI$KKR$LYG
Wire

Goldman, Morgan Stanley, BofA, Citi Cut as Valuations Rise, Oppenheimer Says

Goldman Sachs (GS), Morgan Stanley (MS), Bank of America (BAC) and Citigroup (C) were downgraded as rising valuations make large-cap bank stocks less compelling, prompting a shift toward alternative asset managers, Oppenheimer said Tuesday in a report.Commercial and investment banks remain on solid growth paths, with no near-term catalysts expected to disrupt earnings, the report said. Even so, Oppenheimer noted that valuations have already moved to the upper end of historical ranges for commercial banks and well above average for investment banks, leaving less room for upside despite strong credit conditions, robust trading activity and a buoyant investment-banking cycle.Oppenheimer recommended investors rotate out of large-cap bank stocks and into alternative asset managers, particularly Ares Management (ARES), Blackstone (BX) and KKR (KKR), where it sees more attractive entry points.Oppenheimer downgraded Goldman and Morgan Stanley to underperform from perform, and cut Bank of America and Citigroup to perform from outperform.Price: $1009.49, Change: $-10.72, Percent Change: -1.05%

$ARES$BAC$BX$C$GS$KKR$MS
Sectors

Sector Update: Financial Stocks Lower Tuesday Afternoon

Financial stocks were softer in Tuesday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each decreasing about 0.2%.The Philadelphia Housing Index was shedding 0.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.3%.Bitcoin (BTC-USD) dropped 2.9% to $58,402, and the yield for 10-year US Treasuries was rising 3.2 basis points to 4.406%.In economic news, US job openings rose to 7.594 million in May, according to the Bureau of Labor Statistics, above the 7.296 million openings expected in a Bloomberg-compiled survey and up from the 7.585 million openings reported in April.The Conference Board's measure of consumer confidence rose to 91.2 in June from a downwardly revised 90.6 in May, below the 94.4 expected in a Bloomberg-compiled poll.The Institute for Supply Management's Chicago PMI fell to 56.7 in June from 62.7 in May, compared with the expected 55.1 reading in a Bloomberg-compiled survey.The Dallas Federal Reserve's monthly general business services index rose to a reading of 2.9 in June from minus 7.7 in May, indicating expansion.In corporate news, Helix Infrastructure Partners, a new AI infrastructure firm backed by KKR (KKR) and Nvidia (NVDA), is looking to buy a data center company in an effort to quickly bring new data center space to hyperscalers, The Information reported. KKR shares rose 1.6%.Ares Management (ARES) and Alibaba (BABA) co-founder Joe Tsai led a $100 million investment in the Premier Lacrosse League, valuing the league at more than $500 million, Bloomberg reported. Ares shares rose 2%.Deutsche Bank (DB) said Tuesday it has agreed to sell its retail banking, private banking and wealth management business in India to Kotak Mahindra Bank. Deutsche shares were down 0.8%.

$ARES$DB$KKR
Sectors

Sector Update: Financial

Financial stocks were mixed in Tuesday afternoon trading, with the NYSE Financial Index fractionally higher and the State Street Financial Select Sector SPDR ETF (XLF) decreasing 0.1%.The Philadelphia Housing Index was shedding 0.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.3%.Bitcoin (BTC-USD) dropped 2.9% to $58,402, and the yield for 10-year US Treasuries was rising 3.2 basis points to 4.406%.In corporate news, Helix Infrastructure Partners, a new AI infrastructure firm backed by KKR (KKR) and Nvidia (NVDA), is looking to buy a data center company in an effort to quickly bring new data center space to hyperscalers, The Information reported. KKR shares rose 1.6%.

$KKR
Commodities

KKR Enters Deal to Acquire EDF's 5.6 GW North American Renewable Power Arms

French state-backed utility EDF said Friday it has entered an agreement to potentially divest its clean energy businesses in the US and Canada to private equity firm KKR (KKR).Under the terms, KKR has irrevocably undertaken to acquire the unit's 5.6 GW net operational clean energy portfolio as of March 31.The transaction remains subject to customary closing conditions for the energy sector, it said.Financial details of the transaction were not disclosed in the official announcement.

$KKR
Wire

Sector Update: Financial Stocks Advance Friday Afternoon

Financial stocks were higher in Friday afternoon trading, with the NYSE Financial Index increasing 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.4%.The Philadelphia Housing Index was down 0.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) climbed 1%.Bitcoin (BTC-USD) was increasing 0.6% to $59,900, and the yield for 10-year US Treasuries was shedding 1.6 basis points to 4.38%.In economic news, the University of Michigan consumer sentiment index was revised up to 49.5 for June from 48.9 in the preliminary estimate, below expectations of 50.0 in a Bloomberg-compiled poll.In corporate news, JPMorgan Chase (JPM) has been hired by ClearScore as a financial advisor ahead of a possible stock market listing that could value the UK fintech at about 2 billion British pounds ($2.64 billion), Sky News reported. JPMorgan shares were down 1.4%.KKR (KKR) has signed an agreement with EDF under which it has irrevocably undertaken to acquire the operations and assets of EDF Power Solutions in the US and Canada, EDF said Friday. KKR shares were shedding 1.4%.Wise (WSE) reported fiscal 2026 net revenue late Thursday of $2.5 billion, up from $2.1 billion a year earlier. Its shares jumped past 8%.

$JPM$KKR$WSE
Sectors

Sector Update: Financial

Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index increasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.5%.The Philadelphia Housing Index was up 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) climbed 1%.Bitcoin (BTC-USD) was increasing 0.8% to $60,083, and the yield for 10-year US Treasuries was shedding 1.7 basis points to 4.375%.In corporate news, KKR (KKR) has signed an agreement with EDF under which it has irrevocably undertaken to acquire the operations and assets of EDF Power Solutions in the US and Canada, EDF said Friday. KKR shares were down 0.9%.

$KKR
Wire

KKR to Acquire EDF Power Solutions' US, Canada Operations

KKR (KKR) has signed an agreement with EDF under which it has irrevocably undertaken to acquire the operations and assets of EDF Power Solutions in the US and Canada, EDF said Friday.The transaction will be subject to an information and consultation procedure with employee representative bodies and the approval of the governance bodies, according to the statement.Financial details related to the deal were not disclosed.Price: $93.45, Change: $+0.80, Percent Change: +0.86%

$KKR
Sectors

Sector Update: Financial Stocks Softer Late Afternoon

Financial stocks were decreasing in late Wednesday afternoon trading, with the NYSE Financial Index down 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.2%.The Philadelphia Housing Index was climbing 5.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.2%.Bitcoin (BTC-USD) was dropping 4.8% to $59,625, and the yield for 10-year US Treasuries fell 9.3 basis points to 4.40%.In economic news, US new-home sales decelerated to a 580,000 annual rate in May from an upwardly revised 626,000 rate in April, below the 640,000 rate expected in a Bloomberg-compiled survey. Home sales were down 6.8% from May 2025.Mortgage applications in the US increased last week as refinancing activity improved while home purchase demand edged lower, the Mortgage Bankers Association said. The market composite index, which measures loan application volume, increased 1% in the week ended June 19. On an unadjusted basis, the index decreased 10% compared with the previous week.In sector news, the US Securities and Exchange Commission's enforcement division is investigating funds popular among private equity firms that allow them to hold assets they either cannot or do not wish to sell, Reuters reported. The investigators are looking into potential conflicts of interest around continuation vehicles, how assets are valued and whether disclosures are consistent and sufficient, the report said.In corporate news, a Blackstone Mortgage Trust-originated (BXMT) loan on a 40-story Chicago office tower defaulted after the debt reached its maturity deadline on June 9, Bloomberg reported, citing a mortgage filing. New York-based real estate firm 601W defaulted on the $343 million loan on June 9, the filing showed, according to the report. Blackstone Mortgage Trust shares were down 3.8%.Morgan Stanley's (MS) $7 billion private credit fund capped investor withdrawals at 5% in Q2 after shareholders sought to redeem 11.6% of outstanding shares, Bloomberg reported. More than half of the latest redemption requests at the North Haven Private Income Fund came from investors who were unable to fully exit the fund in the previous quarter, the report said. Morgan Stanley shares fell 2.2%.Brookfield Asset Management (BAM) and the Artificial Intelligence Infrastructure Partnership are among possible bidders for Stack Infrastructure's data centers in the Asia Pacific, Bloomberg reported. Other potential suitors include KKR (KKR), the report said. Brookfield shares were down 4.2%, and KKR shed 2.6%.ProAssurance (PRA) shares rose 1.4% after the company said it has received all regulatory approvals for its planned merger with The Doctors Co.

$BAM$BXMT$KKR$MS$PRA
Sectors

Sector Update: Financial Stocks Lower in Afternoon Trading

Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index down 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.4%.The Philadelphia Housing Index was climbing 5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.7%.Bitcoin (BTC-USD) was dropping 5.3% to $59,125, and the yield for 10-year US Treasuries was falling 8.9 basis points to 4.40%.In economic news, US new-home sales decelerated to a 580,000 annual rate in May from an upwardly revised 626,000 rate in April, below the 640,000 rate expected in a Bloomberg-compiled survey. Home sales were down 6.8% from May 2025.Mortgage applications in the US increased last week as refinancing activity improved while home purchase demand edged lower, the Mortgage Bankers Association said. The market composite index, which measures loan application volume, increased 1% in the week ended June 19. On an unadjusted basis, the index decreased 10% compared with the previous week.In sector news, the US Securities and Exchange Commission's enforcement division is investigating funds popular among private equity firms that allow them to hold assets they either cannot or do not wish to sell, Reuters reported. The investigators are looking into potential conflicts of interest around continuation vehicles, how assets are valued and whether disclosures are consistent and sufficient, the report said.In corporate news, Brookfield Asset Management (BAM) and the Artificial Intelligence Infrastructure Partnership are among possible bidders for Stack Infrastructure's data centers in the Asia Pacific, Bloomberg reported. Other potential suitors include KKR (KKR), the report said. Brookfield shares were down 3.5%, and KKR shed 1.6%.Morgan Stanley's (MS) $7 billion private credit fund capped investor withdrawals at 5% in Q2 after shareholders sought to redeem 11.6% of outstanding shares, Bloomberg reported. More than half of the latest redemption requests at the North Haven Private Income Fund came from investors who were unable to fully exit the fund in the previous quarter, the report said. Morgan Stanley shares fell 2.4%.ProAssurance (PRA) shares rose 1.4% after the company said it has received all regulatory approvals for its planned merger with The Doctors Company, clearing the final major hurdle for the deal.

$BAM$KKR$MS$PRA
Sectors

Sector Update: Financial

Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index down 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.3%.The Philadelphia Housing Index was climbing 5.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.8%.Bitcoin (BTC-USD) was dropping 4.6% to $59,574, and the yield for 10-year US Treasuries was falling 8.3 basis points to 4.41%.In corporate news, Brookfield Asset Management (BAM) and the Artificial Intelligence Infrastructure Partnership are among possible bidders for Stack Infrastructure's data centers in Asia Pacific, Bloomberg reported. Other potential suitors include KKR (KKR), the report said. Brookfield shares were down 3.3%, and KKR shed 1.4%.

$BN$KKR
Sectors

Sector Update: Financial Stocks Softer Late Afternoon

Financial stocks fell in late Wednesday afternoon trading with the NYSE Financial Index declining 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) decreasing 0.8%.The Philadelphia Housing Index fell 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) dropped 2.3%.Bitcoin (BTC-USD) dropped 0.9% to $65,060, and the yield for 10-year US Treasuries rose 3.5 basis points to 4.463%.In economic news, the Federal Reserve kept its benchmark lending rate steady, leaving the easing bias out of its policy statement. The Federal Open Market Committee maintained its federal funds rate target at 3.5% to 3.75%, in line with Wall Street's expectations and marking the fourth straight pause.Separately, US retail sales rose more than expected in May as consumers kept spending despite higher prices. Sales climbed 0.9% after a downwardly revised 0.4% gain in April, the Census Bureau reported Wednesday. The consensus was for a 0.6% increase in May, based on a Bloomberg survey.In corporate news, Ellington Financial (EFC) shares fell 2.2% after BTIG downgraded the stock to neutral from buy.CME (CME) said Terry Duffy will step down as CEO and become executive chairman of the board, effective March 1. He will be succeeded by Lynne Fitzpatrick, 48, the current chief financial officer and president, the company said Wednesday in a regulatory filing. CME shares were down 4%.JPMorgan Chase's (JPM) asset management division is advising investors to hold on to stocks and other higher-risk assets in H2, saying that AI investments should keep the markets rising despite higher inflation and a Federal Reserve that continues to maintain rates, Bloomberg reported. JPMorgan shares were up 0.4%.KKR-backed (KKR) BMC Software agreed to sell a majority stake in BMC Helix to Montagu in a carve-out deal, Montagu said. KKR shares were down 2.1%.

$CME$EFC$JPM$KKR
Sectors

Sector Update: Financial Stocks Advance Wednesday Afternoon

Financial stocks were higher in Wednesday afternoon trading, with the NYSE Financial Index rising 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.4%.The Philadelphia Housing Index was up 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.2%.Bitcoin (BTC-USD) was increasing 0.4% to $65,844, and the yield for 10-year US Treasuries was steady around 4.428%.In economic news, the US Federal Reserve's monetary policy committee will conclude its two-day meeting and announce its latest decision on interest rates at 2 pm ET. Markets widely expect the central bank to keep interest rates unchanged for a fourth consecutive time, according to the CME FedWatch tool.US retail sales rose more than expected in May as consumers kept spending despite higher prices. Sales climbed 0.9% after a downwardly revised 0.4% gain in April, the Census Bureau reported Wednesday. The consensus was for a 0.6% increase in May, based on a Bloomberg survey.In corporate news, JPMorgan Chase's (JPM) asset management division is advising investors to hold on to stocks and other higher-risk assets in H2, saying that AI investments should keep the markets rising despite higher inflation and a Federal Reserve that continues to maintain rates, Bloomberg reported. JPMorgan shares were up 1.6%.KKR-backed (KKR) BMC Software agreed to sell a majority stake in BMC Helix to Montagu in a carve-out deal, Montagu said. KKR shares rose 0.8%.Blackstone (BX), Apollo Global Management (APO) and FS KKR Capital (FSK) are among creditors investing $150 million to take over software firm Medallia after its owner Thoma Bravo indicated it would not inject more funds into the company, Bloomberg reported. Blackstone shares increased 0.8%, Apollo rose 1.4%, and FS KKR Capital added 0.8%.

$APO$BX$FSK$JPM$KKR
Sectors

Sector Update: Financial Stocks Decline Premarket Wednesday

Financial stocks were declining premarket Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.1% lower.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% higher.Progressive (PGR) stock was up more than 1% after the company reported net income for May of $2.47 per share, up from $1.81 a year earlier.HSBC Holdings (HSBC) announced a multi-year partnership with Google Cloud aimed at expanding the bank's artificial intelligence capabilities, Reuters reported. HSBC Holdings shares were up more than 1% premarket.KKR (KKR) said it is making a $1.4 billion equity commitment to expand its global portfolio of leased commercial aircraft in partnership with Altavair. KKR stock was down nearly 1% pre-bell.

$FAS$FAZ$HSBC$KKR$PGR$XLF
Sectors

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks advanced in late Thursday afternoon trading, with the NYSE Financial Index rising 1.2% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1%.The Philadelphia Housing Index climbed 3.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.4%.Bitcoin (BTC-USD) gained 3.2% to $63,436, and the yield for 10-year US Treasuries dropped 8.3 basis points to 4.459%.In economic news, core producer price index, which excludes the more volatile food and energy prices, increased by 0.4% in May, slower than the 0.5% gain expected in a Bloomberg-compiled poll and following a 0.7% gain in April. Core PPI remained at 4.9% year-over-year, but below the 5.4% consensus.US initial jobless claims rose to a level of 229,000 in the week ended June 6 from an unrevised level of 225,000 in the previous week, compared with expectations for an increase to 220,000 in a survey of analysts compiled by Bloomberg.In sector news, the US Supreme Court on Thursday overturned a lower court ruling, blocking activist investors from suing closed-end mutual funds over maneuvers they take to avoid activist-investor takeovers. Saba Capital Master Fund, which led the suing investors, alleged that such moves, like incorporating in favorable jurisdictions, violate the Investment Company Act of 1940.In corporate news, Citigroup (C) launched tokenized depositary receipts for private-company shares, expanding its use of blockchain technology in private markets. Citi shares rose 3.6%.BlackRock (BLK) placed an order to buy at least $5 billion worth of SpaceX shares, the Wall Street Journal reported. Individual investors placed more than $70 billion in orders, and the company also attracted demand from sovereign wealth funds and family offices, including a single family office order of over $1 billion, the report said. BlackRock shares were up 0.8%.KKR (KKR) and co-investors will acquire a majority stake in Chicago-based accounting firm Crowe in a $3 billion deal, The Wall Street Journal reported. Separately, KKR said it launched Helix Digital Infrastructure, a platform with over $10 billion in committed capital to finance AI infrastructure. KKR shares were up 0.1%.Charles Schwab (SCHW) said Thursday that it has lowered expense ratios on four of its equity index ETFs, including funds tracking US mid-cap, small-cap, international small-cap, and emerging markets stocks. Its shares eased 0.1%.

$BLK$C$KKR$SCHW
Wire

Market Chatter: KKR to Acquire Majority Stake in Crowe in $3 Billion Deal

KKR (KKR) and co-investors will acquire a majority stake in Chicago-based accounting firm Crowe in a $3 billion deal, The Wall Street Journal reported Thursday, citing people familiar with the matter.Crowe partners will retain a minority stake, and the deal is expected to close in Q3, according to the report.Crowe expects the fresh capital to accelerate its AI adoption as part of efforts to serve clients better, according to the media outlet.KKR did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $94.34, Change: $-0.68, Percent Change: -0.72%

$KKR
Sectors

Sector Update: Financial Stocks Mixed Thursday Afternoon

Financial stocks were mixed in Thursday afternoon trading, with the NYSE Financial Index decreasing 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.7%.The Philadelphia Housing Index rose 2.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.1%.Bitcoin (BTC-USD) gained 2.5% to $63,498, and the yield for 10-year US Treasuries decreased 6.3 basis points to 4.48%.In economic news, core producer price index, which excludes the more volatile food and energy prices, increased by 0.4% in May, slower than the 0.5% gain expected in a Bloomberg-compiled poll and following a 0.7% gain in April. Core PPI remained at 4.9% year-over-year, but below the 5.4% consensus.US initial jobless claims rose to a level of 229,000 in the week ended June 6 from an unrevised level of 225,000 in the previous week, compared with expectations for an increase to 220,000 in a survey of analysts compiled by Bloomberg.In sector news, the US Supreme Court on Thursday overturned a lower court ruling, blocking activist investors from suing closed-end mutual funds over maneuvers they take to avoid activist-investor takeovers. Saba Capital Master Fund, which led the suing investors, alleged that such moves, like incorporating in favorable jurisdictions, violate the Investment Company Act of 1940.In corporate news, BlackRock (BLK) placed an order to buy at least $5 billion worth of SpaceX shares, the Wall Street Journal reported. Individual investors placed more than $70 billion in orders, and the company also attracted demand from sovereign wealth funds and family offices, including a single family office order of over $1 billion, the report said. BlackRock shares were up 1.1%.Charles Schwab (SCHW) said Thursday that it has lowered expense ratios on four of its equity index ETFs, including funds tracking US mid-cap, small-cap, international small-cap, and emerging markets stocks. Its shares rose 0.1%.KKR (KKR) said Thursday it launched Helix Digital Infrastructure, a platform with over $10 billion in committed capital to finance AI infrastructure, including data centers, power and connectivity expansion. KKR shares were down 0.5%.

$BLK$KKR$SCHW
Wire

Market Chatter: Alternative-Investment Firms Target Mexico's $500 Billion Pension Pool

Blue Owl Capital (OWL), Ares Management (ARES), and Golub Capital are among firms targeting a $500 billion opportunity in Mexican pension funds, Bloomberg reported Monday.Reforms have boosted contributions to workers' accounts, while new rules allow the Mexican funds to allocate more to international private-markets managers, the report said.BlackRock (BLK), Blackstone (BX), KKR (KKR) and Lexington Partners were among the earliest to set up vehicles eligible for investment by the pension funds, known as Afores, according to data from local exchange Biva, the report said.Blue Owl and Ares did not immediately respond to a requests for comment by.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $9.46, Change: $-0.35, Percent Change: -3.52%

$ARES$BLK$BX$KKR$OWL
Sectors

Sector Update: Financial

Financial stocks were higher in late Friday afternoon trading, with the NYSE Financial Index up 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 0.1%.The Philadelphia Housing Index was down 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 1.4%.Bitcoin (BTC-USD) was down 6.5% to $59,570, and the yield for 10-year US Treasuries rose 6.3 basis points to 4.54%.In corporate news, KKR (KKR) and Brookfield Asset Management (BAM) are in discussions with Switch to invest in the data center developer's fundraising round at a valuation of at least $50 billion, The Information reported Thursday. KKR shares fell 2.6%, and Brookfield was down 1.9%.

$BAM$KKR

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