Brookfield Asset Management nears deal for Barclays UK payment business - report

Financial stocks were higher in late Monday afternoon trading, with the NYSE Financial Index rising 0.6% and the Financial Select Sector SPDR Fund (XLF) adding 0.9%.

The Philadelphia Housing Index was easing 0.2%, while the Real Estate Select Sector SPDR Fund (XLRE) added 0.7%.

Bitcoin (BTC/USD) was declining 2.1% to $94,304, and the yield for 10-year US Treasuries decreased 3 basis points to 4.39%.

In economic news, the Dallas Fed's monthly manufacturing index fell to minus 8.3 in February from 14.1 in January, compared with expectations for 6.4 in a survey compiled by Bloomberg.

In regulatory news, the US Securities and Exchange Commission plans to lay off top leaders at regional offices across the country amid cost-cutting scrutiny by the Trump administration, Reuters reported.

In corporate news, JPMorgan Chase said Monday it's committing $50 billion from its balance sheet, along with nearly $15 billion toward its private-credit deals. JPMorgan shares were down 0.9%.

Brookfield Asset Management is seeking to raise at least $7 billion for its fourth infrastructure debt fund, Bloomberg reported. Brookfield shares were decreasing 0.2%.

Genstar Capital is in talks to buy a controlling stake in First Eagle Investment Management, currently majority-owned by Blackstone and Corsair Capital, Bloomberg reported. Blackstone shares were easing 0.1%.

Apollo Global Management has agreed to buy and take private real estate-focused investment firm Bridge Investment Group in an all-stock deal worth $1.5 billion that is expected to strengthen Apollo's real estate equity platform. Bridge shares jumped nearly 35% and Apollo fell 1.4%.

Brookfield Asset Management is seeking to raise at least $7 billion for its fourth infrastructure debt fund, Bloomberg reported Monday, citing sources familiar with the matter.

The new fund will invest in both junior and senior infrastructure debt, according to the report.

The third fund, which closed in November 2023, is "substantially deployed," with data and renewables making up the largest chunk of allocations, the sources told the news outlet.

Brookfield declined a request for comment from Bloomberg. The firm also did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

National Grid said Monday it has agreed to sell its onshore renewables business in the US to Brookfield Asset Management and its partners for an enterprise value of nearly $1.74 billion.

The divestment of National Grid Renewables US is part of National Grid's strategy to streamline its business and focus on networks, the company said.

The transaction, which is subject to certain consents and regulatory approvals, is expected to be completed in H1 of the financial year ending March 31, 2026.

Britain's National Grid has reached a deal to sell its U.S. onshore renewables business to Canadian investment firm Brookfield Asset Management for $1.74 billion including debt, it said on Monday, Reuters reported.

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)