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PE has boosted investments in life insurers at a higher pace than in other industries, yet such “activity has remained concentrated in the U.S. market."
While Carlyle has grown its credit business to $190 billion in the past seven years, it remains the smallest credit player among the five major U.S. alternative asset managers.
While deferring interest payments for a couple of quarters can help sidestep short-term cash squeezes, extended delays of payments makes it harder to refinance debt.
NYCB CEO Joseph Otting is overhauling the company’s balance sheet, as concerns about its outsized exposure to commercial real estate in New York weighed down the stock earlier this year.