Goldman to pay $3 billion to settle 1MDB charges; HUD rule challenged

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Barclays rebounds

Barclays reported third quarter earnings of £611 million, or $799 million, “after losing £292 million in the same period last year, when it took a one-off charge. CEO Jes Staley sounded a cautiously optimistic note about the U.K. bank’s prospects of rebounding from the coronavirus pandemic,” the Wall Street Journal reported.

The bank “reported a big drop in provisions for bad loans in the third quarter as the initial economic shock from coronavirus subsided, while revenue at its trading arm continued to surge in turbulent markets, driving better than expected profits,” the Financial Times said. “The U.K. bank took £608 million of credit impairment charges in the three months. Although that was about a third higher than the same period last year, it was well below the £3.7 billion set aside in the first half of 2020 and less than the £1 billion that

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Broadstone Real Estate Access Fund adds allocations to Goldman Sachs and New York Life sponsored Funds

Broadstone Real Estate Access Fund (“BDREX”), a continuously offered, closed-end interval fund, registered under the Investment Company Act of 1940, announced today it added two institutional core real estate funds sponsored by Goldman Sachs and New York Life to its portfolio. This expands BDREX’s private fund holdings to a total of 10 which also include funds sponsored by USAA, CBRE and Clarion. BDREX is managed by Benefit Street Partners, L.L.C. (“BSP”).

“We are extremely excited to add these two, high-quality, core real estate funds to the BDREX portfolio,” stated Brian Buffone, Benefit Street Partners Managing Director and BDREX Portfolio Manager. “We will continue to strive to give our investors access to large, private institutional funds that have historically been limited to pension funds, endowments and sovereign wealth groups, and we hope to make additional investments like this in the near future.”

For the most recent holdings information, please visit the

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Deutsche Bank, Goldman and JP Morgan top commercial real estate finance, despite COVID-19 cracks


Spencer Platt/Getty Images

Several Wall Street banks have come to dominate a corner of U.S. commercial real estate finance over the past seven months, even as the coronavirus pandemic has cast a long shadow over the market.

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Deutsche Bank (DB) Goldman Sachs (GS) and JP Morgan Chase (JPM) each significantly grew their share of the roughly $550 billion commercial mortgage-backed securities (CMBS) market during the pandemic, according to a new report by Deutsche’s research arm.

The CMBS market is a type of property finance where Wall Street banks make loans on hotels, skyscrapers, and other types of commercial buildings to package into bond deals that investors buy.

This chart shows which Wall Street banks won — and lost — market share since the pandemic took hold in the U.S.

Deutsche Bank Research, Index data

Researchers categorized loans as pre-COVID from January to March, but as post-COVID as

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