A pair of SocGen traders in HK left after the bank discovered a batch of options bets that had gone unseen by risk controls. If the trades had gone bad, the bank could have lost hundreds of millions of dollars. Latest w/Amber Choudhury Alexandre Rajbhandari

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NEW: Private equity dealmakers are being told to put more of their own assets on the line -- including homes and art collections -- as they struggle to wring cash from their increasingly wary backers. Today's Bloomberg Big Take
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A decade into her reign, Abby Johnson is reasserting control over the US fund giant’s London outpost. Heads are rolling. bloomberg.com/news/articles/…

EXCLUSIVE: Greg Coffey is in talks to acquire asset manager Emso in a sign of consolidation in the hedge funds industry. The deal will create a money manager with $13 billion in combined assets bloomberg.com/news/articles/… via Bloomberg Markets

New: The UK has opened talks with brokers, including HL and AJ Bell, about helping to sell the state’s shares in NatWest to retail investors. With William Shaw
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Latest on B. Riley, troubled LA investment bank. Brian Kahn, one of its top clients who's alleged to have illicitly brought down a hedge fund, is accused of defaulting on parts of a settlement meant to help repay investors who lost hundreds of millions.

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New: Outflows! Retail investors are pulling more than €1 billion a month from real estate funds in Europe, with slumping demand and a surge in borrowing costs raising concerns about commercial property valuations w/
Neil Callanan Carla Canivete
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Exclusive: Epstein Contacted Staley for Years at Barclays Using Go-Between, Court Filings Claim — story breaking now on ⁦Bloomberg⁩ from myself ⁦Ava Benny-Morrison⁩ ⁦Jason Leopold⁩ ⁦Jonathan Browning⁩ and Katherine Griffiths bloomberg.com/news/articles/…

EquiLend, a compay that sits at the heart of Wall Street's securities-lending industry, processing $2.4 trillion of trades every month, has suffered a cybersecurity attack that crashed some of its operations. Story w/Ryan Gallagher

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Scoop from Harry Wilson: UK regulators have ordered a dozen banks to start a Section 166 review of their auto lending business, which requires them to bring in an outside expert to examine their practices and produce a report for authorities bloomberg.com/news/articles/…

Rising interest rates are giving UK pension funds a big opportunity to pass insurers the responsibility of writing checks to workers. But in their haste to seal a deal, many could be forced to accept knock-down prices for their private assets
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NEW: Sovereign wealth funds are among investors telling money managers they’ll only commit in their upcoming fund raises if their capital tied up in old funds is released.

Story here with Silas Brown David Ramli

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A small group of little-known hedge-fund traders dominates the massive 'basis trade.' They’ve made billions for their firms and fortunes for themselves — and alarmed financial supervisors. Story w/Nishant Kumar William Shaw and edited by James Boxell

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As the private equity industry soldiers through one of its toughest ever fundraising environments, some big-name firms are tapping outsiders to help them access new pools of capital bloomberg.com/news/articles/… via Bloomberg Markets

New: Carlyle is exploring how to capture a piece of a multibillion-dollar corner of finance that’s changing who writes private-pension checks to millions of retirees -- and it's eyeing the UK market.
With Dawn Lim bloomberg.com/news/articles/… via Bloomberg Wealth

Great Q&A on the Autumn Statement on Markets Today right now, with expert insight from Lizzy Burden Ellen Milligan John Stepek Greg Ritchie Philip Aldrick Tom Rees Julian Harris Marion Dakers Loukia Gyftopoulou and Shelley Robinson

Greece sells third bank stake in less than two months as part of a drive to get rid of all bank holdings by the end of 2025
via Paul Tugwell Eleni Chrepa
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