Jonathan Guilford

Small money manager Cox Capital offered to buy shares of non-traded ​Apollo, Ares and BlackRock HPS ​loan vehicles at 15% to 30% ⁠discounts. Crystallizing losses would sting, but ​skipping lines to cash out and ​buy elsewhere is also tempting. The sticky part: pricing the trades.

Goldman Sachs and ‌Morgan Stanley are both riding high on tech. Deal fees bulged while they combined for $14 ​bln in revenue from buying and ​selling equity. Euphoria abounds, helping close a ⁠valuation gap between the duo. The ​challenge is spinning it into something more ​lasting.

The private equity firm's $1.3 trln of assets are bulging with chatbot-themed ​investments. That’s helping its real ​estate unit, scarred by an ⁠exodus of small-time investors, mount ​a data center-focused comeback. If it ​holds, it’s a hopeful sign for woes elsewhere in the business.

The credit-focused shop led by ​Michael Arougheti is circling ​private equity firm Leonard ⁠Green and the $85 bln ​it manages. A deal ​of this sort would reverse the typical expansion route. Greater significance ​of retail investors ​and fund size invites consolidation in ‌many ⁠forms.

Nvidia's boss gathered ​Apollo, Goldman and others ​to help finance buyers of ⁠his company's GPUs. He ​is channeling the auto-loan ​market by using computing power as collateral as other funding sources ​thin. The chipmaker takes ​the driver's seat, with investors along ‌for ⁠the ride.

EU policymakers envisage €700 bln of annual spending to hit its clean-energy targets, but only a fraction of that sum on adapting to an already-changed climate. In this week’s Viewsroom, Breakingviews columnists discuss the thin ice beneath an unsteady political consensus.

HB Fuller snubbed a ​partial $1.2 bln takeover ​bid from pushy investor Ancora, ⁠whose rabble-rousing recently ​influenced the Warner Bros sale. ​Aggression is on the rise, especially for M&A. With ​buyout shops stuck and ​markets febrile, however, expect more ‌such ⁠invasive tactics.

The ​settlement by Mark Zuckerberg's tech empire for ‌allegedly addicting and harming young users includes big changes to Instagram and Facebook. Authorities also now have a template ​to use against the company's rivals. It's a ​small price to pay for helping reset industry ⁠norms.

After painful years of post-crisis retrenchment, the likes of Banco Santander and JPMorgan are once again expanding across borders. In this week’s Viewsroom, Breakingviews columnists debate whether the market will reward them, or if they’re just recreating pre-2008 risks.

Not content to supply the leading silicon for powering chatbots, boss Jensen Huang is using his vast cash hoard to prop up customers and forestall rivals. In this week’s Viewsroom, Breakingviews columnists debate whether it can withstand the unstoppable force of competition.