Private Credit’s Code of Silence Hides Flaws in a Booming Market bloomberg.com/news/articles/… With Laura Benitez, John Sage, Kat Hidalgo and Ellen Rose Schneider, brilliantly edited by James Boxell.

SCOOP from Elffie Chew and Manuel Baigorri confirmed: Thailand’s biggest bank by market value agrees to buy consumer lender Home Credit’s business in Vietnam for about $860 million bloomberg.com/news/articles/… via Bloomberg

Mercury 13, an investment group targeting women’s football clubs, has reached its first deal, purchasing a controlling stake in FC Como Women in northern Italy bloomberg.com/news/articles/… via Bloomberg Markets david hellier

Inside a Hong Kong luxury resort that's gone wrong — and today offers potential home buyers rare bargains in a city known for sky-high property prices bloomberg.com/news/features/… via Bloomberg

Bloomberg exclusive: Unilever is seeking to reduce its exposure to China through the sale of its majority stake in a water purification business. It is considering the sale of Qinyuan Group as global companies reassess their exposure to China. bloomberg.com/news/articles/…

Today in Bloomberg Deals: M&A is in the foothills of recovery, Alibaba calls off Cainiao’s IPO and Adam Neumann bids to buy back WeWork Michelle F. Davis Manuel Baigorri trib.al/a0CjvFW

UBS is in talks to attain full ownership of its China platform by swapping its holding in Credit Suisse’s onshore securities venture with a Beijing government investment fund, sources say bloomberg.com/news/articles/… via Bloomberg Markets #Switzerland

Chabaidao, a Chinese middle-priced bubble tea company is raising more than $330 million, biggest IPO in Hong Kong since November. At least half a dozen Chinese freshly-made tea brands are queuing for IPO under intensifying price-cut game bloomberg.com/news/articles/… via Businessweek

NEW: UK investment bank Peel Hunt is cutting some roles across its workforce as the drought in IPOs enters its third year bloomberg.com/news/articles/… via Bloomberg Markets Edits by Jenny Surane

CVC Capital Partners and its investors raised €2 billion in an initial public offering, bringing the long-delayed listing process for one of Europe’s marquee private equity firms to a resolution bloomberg.com/news/articles/… via Bloomberg Markets Swetha

Another Anglo American story w/ Dinesh Nair Swetha

Our latest: Activist fund Elliott is said to have built a stake worth “several tens of billions of yen” in Sumitomo Corp., one of Warren Buffett’s favorite Japanese trading houses. bloomberg.com/news/articles/… via Bloomberg

The billionaire Peugeot family is under unprecedented shareholder pressure over the performance of its listed investment vehicle bloomberg.com/news/articles/… via Bloomberg Markets Djuloz Tara Patel Michael Msika

Ares is exploring a combination with real estate investment firm GLP Capital Partners’ operations outside of China, a deal that could add $66 billion in AUM. Scoop w/ Manuel Baigorri, Dinesh Nair, Jan-Henrik Foerster et al. ⬇️ $ARES bloomberg.com/news/articles/…

NEW: In the July issue of Bloomberg Businessweek, Bernard Arnault, one of the wealthiest people alive, explains how he built LVMH into the largest luxury conglomerate in the world. (thread: 1/4) bloomberg.com/features/2024-…

Things are heating up in converts (arb): US convertible bonds could hit “full throttle” in the second half and reach $94 billion for the year— a level the market has not seen since the depths of Covid era, according to Barclays strategists. bloomberg.com/news/articles/… via Bloomberg Markets

JUST IN: HSBC is revamping parts of its investment bank in a move that will make it look more like rivals such as Citigroup bloomberg.com/news/articles/… with Harry Wilson Manuel Baigorri

PDD founder Colin Huang is now China's richest person -- the first time in 3 years that a tech mogul takes the place. Read our profile story marking the occasion: bloomberg.com/news/articles/… w/ Venus FENG Diana Li

Colin Huang has become China’s richest person, according to the Bloomberg Billionaires Index. With a $48.6 billion fortune, he displaces Zhong Shanshan, the country’s bottled-water king who has held the top spot since April 2021. bloomberg.com/news/articles/…

Top female bankers in Malaysia reveal their path to the C-suite bloomberg.com/news/articles/… via @bbgequality Bloomberg Deals