US probes firms that borrowed $400mn from private credit giant HPS
BlackRock-owned lender has accused companies controlled by Bankim Brahmbhatt of ‘brazen’ fraud
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Firms like Apollo find it hard to shake narratives formed by legacy private equity and distressed debt operations
HSBC pauses $4bn private credit investment
Lender announced plan last year to use $3.2tn balance sheet to muscle into alternative lending market
BlackRock limits redemptions at private credit fund as outflows swell
Decision taken after withdrawal requests at flagship HPS Corporate Lending Fund surged to 9.3% of net asset value
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