Sheryl Tian Tong Lee

(Bloomberg) -- The global asset management industry is poised for more consolidation as active funds react to being squeezed by passive investment

MUFG Bank Ltd. has hired Saumitra Shrivastava as head of Asia project finance based in Singapore, according to people familiar with the matter.

KKR & Co. and Capital Group plan to launch a public-private credit fund in Asia this year, in the latest tie-up between private-markets specialists and traditional asset managers seeking to attract more retail money.

MUFG Bank Ltd. has hired Saumitra Shrivastava as head of Asia Pacific project finance based in Singapore, according to people familiar with the matter.

Malaysia is studying actions to be taken against Meta Platforms Inc. for failing to curb fake accounts involving the country’s Malay rulers, Bernama reported, citing Communications Minister Fahmi Fadzil.

Blackstone Inc.-owned data center firm AirTrunk is marketing a $2.3 billion loan to fund a Malaysia project, according to people familiar with the matter, part of a slew of tech-linked financings in Southeast Asia spurred by the artificial intelligence boom.

The Japanese lender is utilizing tools such as synthetic risk transfers and loan portfolio sales, Asia-Pacific Deputy Head Carsten Stoehr says.

Fears of a stagflation shock from the Middle East conflict are increasingly souring investor sentiment toward the weakest global corporate borrowers, many of which binged on cheap debt during the era of ultra-low interest rates.

Global investors now require about 6.4 percentage points of extra yield to own high-risk CCC rated bonds over other junk notes that sit just below investment grade, the largest premium in 14 months, Bloomberg indexes show. Credit funds are bracing for even greater stress in higher-risk loans and private credit where debt from a $2 trillion leveraged buyout boom is concentrated.

ByteDance Ltd., the developer of TikTok, is in preliminary talks with banks for a borrowing of about $20 billion, people familiar with the matter said, in what would be the firm’s largest offshore loan yet at a time when it’s boosting investments in artificial intelligence.