[{"@context":"https:\/\/schema.org\/","@type":"Article","@id":"https:\/\/www.dukar.sk\/ako-sa-najvacsie-sukromne-investicne-spolocnosti-stali-novymi-bankami\/#Article","mainEntityOfPage":"https:\/\/www.dukar.sk\/ako-sa-najvacsie-sukromne-investicne-spolocnosti-stali-novymi-bankami\/","headline":"Ako sa najv\u00e4\u010d\u0161ie s\u00fakromn\u00e9 investi\u010dn\u00e9 spolo\u010dnosti stali nov\u00fdmi bankami","name":"Ako sa najv\u00e4\u010d\u0161ie s\u00fakromn\u00e9 investi\u010dn\u00e9 spolo\u010dnosti stali nov\u00fdmi bankami","description":"Konkurzn\u00e9 konanie v Delaware prinieslo hav\u00e1riu koniec Gibsonovmu pl\u00e1nu znovu objavi\u0165 sa pred\u00e1van\u00edm inteligentn\u00fdch reproduktorov a git\u00e1r, ktor\u00e9 sa naladia. Tie\u017e vytvorili bitku v s\u00fadnej sieni medzi spolo\u010dnos\u0165ou Blackstone a KKR, dve z najsilnej\u0161\u00edch americk\u00fdch finan\u010dn\u00fdch firiem, ktor\u00e9 patria medzi najv\u00e4\u010d\u0161\u00edch verite\u013eov spolo\u010dnosti. \u00a0 Ktor\u00e1 firma zv\u00ed\u0165az\u00ed v tejto pot\u00fd\u010dke, je menej ne\u017e v\u00e4\u010d\u0161ie v\u00ed\u0165azstvo,… ","datePublished":"2018-07-28","dateModified":"2023-04-26","author":{"@type":"Person","@id":"https:\/\/www.dukar.sk\/author\/#Person","name":"","url":"https:\/\/www.dukar.sk\/author\/","identifier":1,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/ade5060b95d9432296fc92debd2ba3136f7a4d727a7bc57afe18c4808c7d7ac9?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/ade5060b95d9432296fc92debd2ba3136f7a4d727a7bc57afe18c4808c7d7ac9?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"dukar.sk","logo":{"@type":"ImageObject","@id":"\/logo.png","url":"\/logo.png","width":600,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/www.dukar.sk\/wp-content\/uploads\/img_a291592_w16586_t1538151130.jpg","url":"https:\/\/www.dukar.sk\/wp-content\/uploads\/img_a291592_w16586_t1538151130.jpg","height":0,"width":0},"url":"https:\/\/www.dukar.sk\/ako-sa-najvacsie-sukromne-investicne-spolocnosti-stali-novymi-bankami\/","about":["Financie"],"wordCount":460,"articleBody":"Konkurzn\u00e9 konanie v Delaware prinieslo hav\u00e1riu koniec Gibsonovmu pl\u00e1nu znovu objavi\u0165 sa pred\u00e1van\u00edm inteligentn\u00fdch reproduktorov a git\u00e1r, ktor\u00e9 sa naladia. Tie\u017e vytvorili bitku v s\u00fadnej sieni medzi spolo\u010dnos\u0165ou Blackstone a KKR, dve z najsilnej\u0161\u00edch americk\u00fdch finan\u010dn\u00fdch firiem, ktor\u00e9 patria medzi najv\u00e4\u010d\u0161\u00edch verite\u013eov spolo\u010dnosti.\u00a0Ktor\u00e1 firma zv\u00ed\u0165az\u00ed v tejto pot\u00fd\u010dke, je menej ne\u017e v\u00e4\u010d\u0161ie v\u00ed\u0165azstvo, ktor\u00e9 im patr\u00ed. Zalo\u017een\u00e9 b\u00fdval\u00fdmi bank\u00e1rmi, s\u00fa s\u00fa\u010das\u0165ou skupiny s\u00fakromn\u00fdch investi\u010dn\u00fdch spolo\u010dnost\u00ed, ktor\u00e9 str\u00e1vili roky od finan\u010dnej kr\u00edzy ticho nahradzovan\u00edm svojich b\u00fdval\u00fdch kolegov v bankovom svete. T\u00fdm, \u017ee vytvorili obrovsk\u00e9 \u00faverov\u00e9 zbrane, boli transformovan\u00e9 z obchodn\u00edkov s vysokou v\u00e1hou, ktor\u00ed sa podie\u013eali na spolo\u010dnostiach na hlavn\u00fdch bank\u00e1roch pre ve\u013ek\u00fa \u010das\u0165 korpor\u00e1tnej Ameriky.\u00a0A\u017e do finan\u010dnej kr\u00edzy investori s\u00fakromn\u00fdch investorov \u00fazko spolupracovali na „v\u00fdkupnom“ h\u00e1rku, ktor\u00fd bol propagovan\u00fd Henrym Kravisom a Georgeom Robertsom, ke\u010f v sedemdesiatych rokoch zalo\u017eili KKR. Z\u00edskanie spolo\u010dnost\u00ed v celku by zn\u00ed\u017eilo n\u00e1klady a nahradi\u0165 ich obrovsk\u00fdm objemom dlhov a splati\u0165 banku sp\u00e4\u0165 s n\u00edzkou \u00farokovou sadzbou.\u00a0Najv\u00e4\u010d\u0161ie firmy sa v s\u00fa\u010dasnosti ot\u00e1\u010daj\u00fa zo s\u00fakromn\u00e9ho kapit\u00e1lu do s\u00fakromn\u00e9ho dlhu a vstupuj\u00fa do nov\u00e9ho plemena \u013eahko regulovan\u00fdch spr\u00e1vcov akt\u00edv, ktor\u00e9 vyplnili pr\u00e1zdnu oblas\u0165, ke\u010f\u017ee banky s\u00fa n\u00faten\u00e9 ust\u00fapi\u0165 od riskantn\u00fdch obchodov.\u00a0Na rozdiel od b\u00e1nk, ktor\u00e9 s\u00fa z\u00e1visl\u00e9 od vkladov a in\u00fdch kr\u00e1tkodob\u00fdch finan\u010dn\u00fdch prostriedkov, tieto fondy z\u00edskavaj\u00fa peniaze od dlhodob\u00fdch investorov, ako s\u00fa pois\u0165ovne a penzijn\u00e9 fondy. Mnoho spolo\u010dnost\u00ed, ktor\u00e9 po\u017ei\u010diavaj\u00fa, vlastn\u00ed in\u00ed investori s\u00fakromn\u00e9ho kapit\u00e1lu. Tieto fondy poskytuj\u00fa rozhoduj\u00faci zdroj \u00faverov spolo\u010dnostiam, ktor\u00e9 nem\u00f4\u017eu vyu\u017ei\u0165 trhy s dlhopismi, tvrdia ich obhajcovia.\u00a0„Banky museli rekapitalizova\u0165 a vybudova\u0165 v\u00e4\u010d\u0161ie kapit\u00e1lov\u00e9 vank\u00fa\u0161e a v kombin\u00e1cii s recesiami a slab\u00fdmi zotaveniami skuto\u010dne nezvy\u0161ovali ve\u013ea \u00faverov,“ hovor\u00ed Susan Lund, partnerka konzulta\u010dnej spolo\u010dnosti McKinsey.\u00a0Desa\u0165 rokov po kr\u00edze r\u00fdchle roz\u0161irovanie s\u00fakromn\u00e9ho kreditu vyvol\u00e1va ot\u00e1zku, \u010di sa rizik\u00e1 jednoducho preniesli do inej, menej regulovanej \u010dasti trhu. „Je pravda, \u017ee je to nepr\u00edstupn\u00e9,“ hovor\u00ed pani Lundov\u00e1. „Ale nem\u00e1 syst\u00e9mov\u00e9 riziko. Ak spolo\u010dnos\u0165 nevypl\u00e1ca, investori stratia a tam skon\u010d\u00ed.“\u00a0Howard Marks, zakladate\u013e spolo\u010dnosti Oaktree Capital Management, ktor\u00fd urobil mili\u00e1rd dol\u00e1rov investuj\u00facich do n\u00fadzov\u00e9ho dlhu a profitoval zo spl\u00e1tok \u00faverov\u00fdch bustov, s\u00fahlas\u00ed – a\u017e k bodu.                                                                                                                                                                                                                                                                                                                                                                                        4.4\/5 - (10 votes)        "},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Ako sa najv\u00e4\u010d\u0161ie s\u00fakromn\u00e9 investi\u010dn\u00e9 spolo\u010dnosti stali nov\u00fdmi bankami","item":"https:\/\/www.dukar.sk\/ako-sa-najvacsie-sukromne-investicne-spolocnosti-stali-novymi-bankami\/#breadcrumbitem"}]}]