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  Ares CEO Arougheti Says Private Credit to Double in Five Years

  Ares Management boss Mike Arougheti sees the $1.5 trillion private credit market doubling to $3 trillion within five years, with a great deal of that coming from banks’ balance sheets.

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  Eskom Board at Odds With South African Minister Gordhan Over CEO Search

  The protracted search for Eskom Holdings SOC Ltd.’s new chief executive officer has raised tensions between the South African government minister that oversees the state utility and its board, according to people familiar with the matter.

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  Everything Selloff Snowballs While Traders Adjust to Fed’s Reality

  Investors dealing with a Federal Reserve-induced hangover are suffering as all asset classes deliver losses that aren’t expected to diminish any time soon.

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  Hedge Fund Billionaire Paulson Cost Family Trust $10 Million With Condo Deal, Wife Says

  Hedge fund billionaire John Paulson used a sham purchase of a luxury penthouse apartment in Puerto Rico to improperly enrich himself by $10 million at the expense of his family trust, his wife claims in a suit accusing him of hiding billions of dollars in assets during their divorce.

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  Muni Yields Surge on Federal Reserve’s Higher-for-Longer Stance

  Municipal bonds joined the rout in broader debt markets after the Federal Reserve indicated its intention to keep interest rates high for as long as necessary to contain inflation.