International News 04 June 2025
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HSBC Injects US$ 4 Billion into Private Credit Fund Managed by HSBC Asset Management
HSBC, Europe's largest bank, is investing $4 billion in private credit funds managed by HSBC Asset Management as part of its strategy to expand in the private credit market. The objective is to attract external investment and expand the funds to a $50 billion portfolio over the next five years, in a market currently dominated by major players such as Blackstone and Ares Management. Other major banks are also entering the private credit market, with various strategies such as partnering with established players or building their own business units. HSBC AM's CEO perceives this development as a period of heightened competition within the industry, and believes that increased support from HSBC will assist in attracting further external investors. This investment forms part of CEO Georges Elhedery's strategy to establish a private credit fund, despite its relatively modest size in comparison to HSBC's total assets of $3 trillion.
Sanofi Acquires Blueprint Medicines for US$ 9 Billion
Sanofi, a French pharmaceutical company, has entered into an agreement to acquire US-based biotechnology company Blueprint Medicines Corporation for a sum of $9 billion. This acquisition represents the largest deal in the European healthcare sector this year. Blueprint's core focus is the development of treatments for systemic mastocytosis, a rare immune disease. Sanofi will pay $129 per share in cash, with additional contingent value rights (CVR) of up to $6 per share based on future drug development targets. Sanofi CEO Paul Hudson stated that the acquisition will strengthen the company's immunology and rare diseases portfolio, positioning Sanofi as a global leader in the field. The agreement will enable Sanofi to include the drug Ayvakit in its range of products. Ayvakit is an approved treatment for systemic mastocytosis in the US and EU. This strategic acquisition will provide Sanofi with access to potent drugs and will expand its product offerings in the healthcare sector.
https://internasional.kontan.co.id/news/sanofi-akuisisi-blueprint-medicines-senilai-us-9-miliar
Oil prices close up nearly 3%, supported by OPEC+ policy and supply disruptions
Oil prices surged by almost 3% following OPEC+'s decision to maintain production levels. The boost was also driven by the disruption to oil production caused by wildfires in Canada. Brent crude for August 2025 closed up 2.95%, WTI crude for July 2025 rose by 2.85%, with Alberta's wildfires impacting 7% of Canadian crude production. Operators in Fort McMurray have evacuated their personnel and halted production due to the fires. The weakening of the US dollar, due to concerns regarding new tariffs and economic growth, has had a positive effect on oil prices. This is because a weaker dollar makes commodities like oil cheaper for buyers using other currencies. John Kilduff of Again Capital has noted the spreading wildfires in Alberta as a factor influencing the market.