4 Financial Stock Stories Getting Tuesday Traction

Goldman Sachs Group Inc. (NYSE:GS): Current price $160.03

Goldman Sachs has pledged to provide Duke Street Capital Ltd., which owns the United Kingdom’s Wagamama restaurant chain, with funds for further leveraged buyouts, said three knowledgeable sources, who explained that Goldman Sachs Asset Management will invest up to €100 million in Duke Street’s planned fund as part of a broader arrangement to buy out investors in the private equity firm’s previous fund.

Duke Street had been endeavoring to raise money to fund takeovers since it abandoned plans for an €850-million pool in February 2012 during the midst of a lack of investor demand.

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JPMorgan Chase & Co. (NYSE:JPM): Current price $52.30

The decision by China Everbright Bank to hire JPMorgan to underwrite its initial public offering in Hong Kong was not connected with the latter’s hiring the son of a high-level executive linked to the Chinese bank, according to a spokesman for Everbright to state media.

On Tuesday, the official China Securities Journal cited an unnamed “person in charge” at Everbright Bank explaining that the process of hiring JPMorgan was “open and transparent and there was no so-called question of passing favors.”

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Banco Bilbao Vizcaya Argentaria S.A. (NYSE:BBVA): Current price $9.91

An inside source reports that BBVA Compass plans to recruit commercial bankers and open offices in Charlotte and Raleigh. BBVA Compass, based in Birmingham, is the United States banking subsidiary of BBVA, which has large operations in Spain, Mexico, South America, and the Sun Belt. The plans for North Carolina include setting up commercial banking offices in the two cities, but it is not clear how many bankers could be moved there or hired within the market.

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Kohlberg Kravis Roberts & Co. (NYSE:KKR): Current price $19.66

On Tuesday, KKR announced the formation of Maritime Finance Company, which is a new specialty finance firm created to lend to the maritime industry. Led by former Helios Advisors partners Kristan Bodden and Gabriel Tolchinsky, Maritime Finance will be an asset-based lender centered on maritime assets in the offshore oil field services, and the traditional shipping sectors.

The firm will originate, structure, underwrite, invest in, and distribute debt financings secured by high-quality maritime assets, among which include drilling rigs, development and production assets, subsea construction vessels and other traditional shipping.

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