Of Interest

Grant Thornton: 78% of CFOs Predict a Profitable 2023

A new survey from Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, revealed that chief financial officers are focused on profitability despite the uncertain interest rate outlook and global economy. read more

IDC Forecasts Spending on GenAI Solutions Will Reach $143B in 2027

A new forecast from International Data Corporation shows that enterprises will invest nearly $16 billion worldwide on GenAI solutions in 2023. This spending is expected to reach $143 billion in 2027 with a compound annual growth rate of 73.3% over the 2023 to 2027 forecast period. read more

KBRA: Aviation ABS Exposure to Israel-Hamas Conflict ‘Currently Limited’

Kroll Bond Rating Agency released research about the impact of the current Israel-Hamas conflict on aviation asset-based securities, stating that exposure to Israeli lessees in such transactions is currently limited. read more

Citi Agrees to Sell Onshore Consumer Wealth Portfolio in China to HSBC

Citi agreed to sell its onshore consumer wealth portfolio in China, including clients, assets under management and deposits, to HSBC Bank China. The transaction covers total deposits and investment assets under management of approximately $3.6 billion. read more

Economic Activity in Hospital Subsector Bounces Back in September

Economic activity in the hospital subsector grew in September after contracting in August, which was the second time the sector had contracted in the previous five months, with 35 consecutive months of growth prior to that, according to the Institute for Supply Management. read more

Green Dot Appoints Former Google Cloud VP to Board of Directors

Green Dot, a digital bank and financial technology company, appointed Michelleta Razon to its board of directors, effective immediately. Razon most recently served as vice president, general manager and head of commerce at Google Cloud, Google’s suite of cloud computing tools and services. read more

Oaktree Capital Management Acquires Consolidated Chassis Management

Funds managed by the transportation infrastructure strategy of Oaktree Capital Management acquired Consolidated Chassis Management, a manager of marine chassis pools in the U.S. read more

CNH Makes Minority Investment in Advanced Farm Technologies

CNH made a minority investment in California-based startup Advanced Farm Technologies, which specializes in the robotic harvesting of apples, strawberries and other fruits. read more

Baker Hughes Receives Gas Technology Equipment Order from Venture Global

Baker Hughes was awarded a major contract in Q3/23 to provide a modularized liquefied natural gas (LNG) system and power island. The contract was awarded under a master equipment supply agreement between Venture Global and Baker Hughes. read more

Horizon Technology Finance Provides $40MM Venture Loan to Elligo Health Research

Horizon Technology Finance provided a $40 million venture loan facility to Elligo Health Research, of which $25 million was initially funded. read more

CIBC Innovation Banking Provides $3.5MM in Debt Financing to Nanoprecise

CIBC Innovation Banking provided a $3.5 million debt financing facility to Edmonton, AB-based Nanoprecise, which plans to use the funds for working capital purposes. read more

Wells Fargo Sells $2B of Private Equity Investments in Norwest Funds

Wells Fargo sold approximately $2 billion of private equity investments in certain Norwest Equity Partners and Norwest Mezzanine Partners funds to a group of investors, including AlpInvest Partners, Atalaya Capital Management, Lexington Partners and Pantheon. read more

Encina Lender Finance Provides $50MM Credit Facility to Bright Money

Encina Lender Finance closed a $50 million senior secured credit facility for Bright Money, a fintech platform that helps consumers manage their debt. read more

Financial Service Leaders Believe Sector is ‘Digitally Fit’ But Anxious About AI

While most financial service leaders are confident about the digital fitness of their businesses, 26% have “tech anxiety” about AI and machine learning, according to Kin + Carta. read more

Hybrid Work Report: Employers Missing the Mark on In-Office Employee Experience

Owl Labs released its seventh annual State of Hybrid Work Report, which uncovered the latest trends and perspectives around remote and hybrid work. read more

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