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Equinor has agreed to pay $940 million for a preferred ownership interest in one of Pennsylvania’s largest natural gas-fired power plants, expanding its U.S. electricity business as data centers and industrial development increase demand across the PJM market. The Norwegian energy company will acquire 87.71% of the Class A shares in the 1,483-megawatt Lackawanna Energy …

HA Sustainable Infrastructure Capital has completed its first water-infrastructure investment, providing structured equity for a Washington wastewater facility that recycles industrial process water while producing renewable natural gas. The Pasco Resource Recovery Center was developed and is owned and operated by Burnham through a 30-year public-private partnership with the City of Pasco. The approximately $180 …

Asset-tokenized platform Securitize has launched the Neuberger Securitize High Income Tokenized Fund, marking it as the first high-yield bond fund with investment manager Neuberger Berman.  The fund aims to attract risk-adjusted returns by investing primarily in high-yield and fixed-income investments across public blockchain networks such as Avalanche, Ethereum, Solana, and Sui.  The move comes as …

Vestmark has been tapped by Vanguard to provide an expanded source of model portfolios to registered investment advisors, as asset classes and service preferences continue to be growing factors for clients.  Vanguard has launched the Vanguard Custom Model Portfolios, which aims to provide advisors with customized portfolios through the firm. Through its partnership, Vestmark will …

Private equity firm Bernhard Capital Partners has agreed to acquire Bowman Consulting Group Ltd. in a take-private transaction valued at approximately $1 billion, including debt. Under the terms of the agreement, Bernhard Capital will acquire all outstanding shares of Bowman for $43 per share in cash. The purchase price reflects an approximate 58% premium to …

Merit Financial Advisors has acquired a Southern California-based advisory firm, which oversees about $900 million in assets under management.  The Bridgeway Group, founded in 2014, is led by partners Matt Dupon, Sean Montgomery, and Scott Miller.  The nine-person team provides wealth management services, including financial planning and investment management, with an emphasis on retirement planning.  …

Executive Summary Additional Tier 1, or AT1, bank bonds are trading at near-historic tight spreads despite their complex, loss-absorbing structures. With the ICE CoCo Index offering roughly 206 basis points over benchmark rates, well below its 385-basis-point historical median, investors may not be adequately compensated for coupon-cancellation, extension, and regulatory risks. As banks increasingly issue …

The U.S. Treasury Department will at least double the size of buyback operations for longer-dated government securities, expanding its effort to improve trading conditions after the 30-year yield reached its highest level since 2007. Beginning Sept. 9, Treasury will raise the maximum purchase amount from $2 billion to at least $4 billion for operations covering …

Stratos Wealth Enterprises has acquired RPI Financial Life Planners, adding approximately $400 million in assets under management and expanding the wealth company’s presence in the Midwest. Naperville, Illinois-based RPI has operated for more than four decades, serving individuals, families, retirees and business owners. Its services include retirement and tax planning, estate-planning coordination, investment management and …

PGIM has appointed Yaqub “Qub” Ahmed head of Defined Contribution Solutions, placing a veteran retirement executive in charge of its strategy as asset managers compete to introduce broader investment choices into workplace plans. Ahmed will oversee PGIM’s defined contribution business across institutional and wealth channels, coordinating investment and advice capabilities for plan sponsors, consultants, financial …

Equinor has agreed to pay $940 million for a preferred ownership interest in one of Pennsylvania’s largest natural gas-fired power plants, expanding its U.S. electricity business as data centers and industrial development increase demand across the PJM market. The Norwegian energy company will acquire 87.71% of the Class A shares in the 1,483-megawatt Lackawanna Energy …

HA Sustainable Infrastructure Capital has completed its first water-infrastructure investment, providing structured equity for a Washington wastewater facility that recycles industrial process water while producing renewable natural gas. The Pasco Resource Recovery Center was developed and is owned and operated by Burnham through a 30-year public-private partnership with the City of Pasco. The approximately $180 …

Artificial intelligence is expanding private credit beyond its traditional role financing sponsor-backed leveraged buyouts, creating opportunities in data centers, computing capacity and other infrastructure while increasing underwriting risks in software, according to HPS Investment Partners. HPS, which is part of BlackRock, said large corporations and investment-grade borrowers increasingly seek flexible private financing for AI-related capital …

CPP Investments’ net assets climbed to C$863.6 billion, or approximately $622 billion, during its fiscal 2027 first quarter as strong public markets and real-asset investments complemented an active period of private-market deployment. Assets increased by C$70.3 billion during the quarter ended June 30, including C$60.2 billion of net investment income and C$10.1 billion of Canada …

U.S. employers unexpectedly shed 23,000 jobs in July, falling far short of the 88,000 gain projected by economic consensus, according to data released by the U.S. Bureau of Labor Statistics. The drop was compounded by sharp downward revisions to prior months. May payroll additions were revised down by 66,000 to 63,000, while June figures were …

Executive Summary Inflation expectations have fallen sharply following last week’s benign CPI and PPI prints, yet the market continues to price a meaningful probability of an interest rate hike by the Federal Reserve — a disconnect that appears mispriced. On balance, the Fed will likely look through the near-term energy spike and hold rates steady …

Executive Summary Additional Tier 1, or AT1, bank bonds are trading at near-historic tight spreads despite their complex, loss-absorbing structures. With the ICE CoCo Index offering roughly 206 basis points over benchmark rates, well below its 385-basis-point historical median, investors may not be adequately compensated for coupon-cancellation, extension, and regulatory risks. As banks increasingly issue …