Financial Performance - Great Elm Group (GEG) grew pro forma Fee-Paying Assets Under Management (FPAUM) by 10% year-over-year as of September 30, 2025[6] - Great Elm Group (GEG) grew pro forma Assets Under Management (AUM) by 7% year-over-year as of September 30, 2025, reaching $792 million[6, 33] - GECC raised approximately $28 million in gross proceeds through equity issuances[7] - GECC issued $57.5 million principal amount of its 7.75% Notes due December 31, 2030[7] - Monomoy BTS sold its second property for approximately $7.4 million, resulting in a gain of $0.5 million[7] Strategic Partnerships and Investments - Great Elm announced a strategic partnership with Kennedy Lewis Investment Management (KLIM), delivering up to $150 million in leverageable capital[6] - Woodstead Value Fund, L.P purchased 4.0 million shares of GEG at $2.25 per share, totaling $9 million[6] - GECC sold 1.3 million shares to an affiliate of Booker Smith at $11.65 per share for gross proceeds of $15 million[6] Capital Allocation - GEG's Board authorized an additional $5 million of stock repurchases, bringing the total stock repurchase program to $25 million[6] - As of November 11, 2025, GEG repurchased 5.6 million shares for $10.9 million at an average price of $1.93 per share[6]

Core Insights - Uxin Limited has formed a strategic partnership with local government authorities in Tianjin to jointly invest in the Uxin Tianjin Used Car Superstore, which will feature a large-scale used car reconditioning facility and a retail experience with a capacity of over 3,000 vehicles [1][3][4] - The first phase of the superstore is expected to begin operations in the first half of 2026, enhancing Uxin's presence in northern China [1][3] Company Overview - Uxin is recognized as China's leading used car retailer, focusing on transforming the industry through advanced production, new retail experiences, and digital empowerment [4] - The company operates under an omni-channel strategy, utilizing both online platforms and offline superstores with inventory capacities ranging from 2,000 to 8,000 vehicles [4] Industry Context - Tianjin, with a population of over 13 million and approximately 4 million registered vehicles, is a major hub for international trade and logistics, providing a strong foundation for Uxin's expansion [2] - The city has prioritized the automotive industry as one of its key sectors, fostering a high-quality modern industrial ecosystem that supports Uxin's growth [2][4] Strategic Advantages - The new superstore in Tianjin is positioned to serve as a regional hub for the Beijing–Tianjin–Hebei area, enhancing Uxin's supply chain and service network [3] - Uxin's Chief Strategy Officer highlighted Tianjin's geographic advantages, transportation network, and policy support as critical factors for the project's success and long-term growth [4]

Core Insights - Olin Corporation has formed a strategic partnership with Braskem to supply ethylene dichloride (EDC), enhancing Olin's position in the Brazilian PVC market [2][4] - The partnership aligns with Braskem's transformation of its chlor-alkali and vinyl assets in Brazil, marking a significant step in Olin's global vinyls strategy [2][4] - Olin's decision to dissolve its Blue Water Alliance joint venture allows for a redirection of EDC towards more valuable relationships, further advancing its strategy in the high-growth Brazilian market [3][4] Company Overview - Olin Corporation is a leading global manufacturer and distributor of chemical products, including chlorine, caustic soda, and vinyls, as well as a major U.S. manufacturer of ammunition [5]

Core Insights - Hamilton Lane and Guardian Life Insurance Company have formed a long-term strategic partnership to manage Guardian's private equity portfolio and enhance investment opportunities [1][2][5] Partnership Details - Hamilton Lane will manage Guardian's existing private equity portfolio valued at nearly $5 billion and will receive an annual commitment of approximately $500 million from Guardian for the next 10 years [2] - The partnership includes $250 million in seed capital for new Evergreen initiatives to support Hamilton Lane's Global Evergreen Platform [2] - Guardian's general account will gain access to a broader range of investment opportunities through Hamilton Lane's platform, which includes primary, co-investment, and secondary market opportunities [2][4] Strategic Goals - The partnership aims to accelerate growth and drive value creation, with Guardian receiving equity warrants and additional financial incentives [2][5] - Hamilton Lane's Insurance Solutions platform, which manages over $119 billion, will be enhanced through this partnership, leveraging proprietary private markets data [4] Client Engagement - Hamilton Lane will collaborate with Guardian's broker-dealer, Park Avenue Securities, to provide investment solutions and strategic support to over 2,400 advisors managing approximately $58.5 billion in client assets [3] Future Outlook - The partnership transaction is expected to close by the end of Q4 2025, with Guardian's investment professionals joining Hamilton Lane to expand expertise in the insurance sector [6]

Strategic Partnership - Cleveland-Cliffs names South Korean steelmaker Posco as its new strategic partner [1] - The partnership follows a deal touted 10 days ago by the American steel producer [1]

🚨JUST IN: @ONDOFINANCE AND @CHAINLINK ANNOUNCE A MAJOR STRATEGIC PARTNERSHIP TO JOINTLY BRING FINANCIAL INSTITUTIONS ONCHAIN ...

Core Insights - Cleveland-Cliffs Inc. has established a strategic partnership with POSCO, Korea's largest steelmaker and the world's third largest steelmaker outside of China [1] - The Memorandum of Understanding (MoU) between Cleveland-Cliffs and POSCO was executed on September 17, 2025 [1] - The recent completion of a new trade agreement between the U.S. and Korea is expected to enhance cooperation between the industrial sectors of both nations [1]

Financial Data and Key Metrics Changes - The company reported net income of $18.6 million or $0.69 per diluted share, with adjusted net income of $19.7 million or $0.73 per diluted share after excluding one-time costs [8][10] - Return on Assets (ROA) was 1.01% and Return on Equity (ROE) was 12.89%, indicating disciplined execution [8] - Net interest income increased by 2.5% to $61.3 million, and net interest margin expanded by 5 basis points to 3.49% [8][9] Business Line Data and Key Metrics Changes - Loans increased by $77 million, while deposits grew by $33 million, bringing total deposits to $6.6 billion [6][7] - The Hawaii loan portfolio saw growth in commercial, commercial mortgage, and construction loans, offset by declines in residential mortgage and home equity [6][19] - Average yields on total loans increased by 5 basis points to 5.01% compared to the prior quarter [6] Market Data and Key Metrics Changes - The company anticipates full-year loan growth in the low single-digit percentage range for 2025, with a healthy loan pipeline [6][7] - Deposit growth is expected to remain flat year-over-year in the fourth quarter due to known outflows, but optimism for low single-digit growth in 2026 remains [25][26] Company Strategy and Development Direction - The company focuses on optimizing bottom-line returns while maintaining high liquidity and prudent capital levels [5] - A strategic partnership with Kyoto Shinkin Bank was announced to enhance growth prospects for small and mid-sized customers [4] - The company aims to enhance products, build a strong team, strengthen the balance sheet, and grow the business prudently [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of Hawaii's economy despite softness in tourism due to U.S. trade policies [3] - The company is cautiously optimistic about future loan growth, particularly in Hawaii, as interest rates are expected to moderate [19][44] - Management emphasized a commitment to disciplined growth and long-term value creation for shareholders [7][12] Other Important Information - The board increased the fourth-quarter dividend by 3.7% to $0.28 per share, payable on December 15 [11] - The company plans to redeem $55 million of subordinated debt at par on November 1 [11][12] - Total risk-based capital was reported at 15.7%, with a target Common Equity Tier 1 (CET1) ratio of 11% to 12% [14][12] Q&A Session Summary Question: What drove the declines in loans in Hawaii and future growth confidence? - Management noted that declines were primarily in residential mortgage and home equity due to the interest rate environment, but there is a healthy loan pipeline and optimism for future growth [19] Question: Insights on expense management and investments? - Management highlighted ongoing investments in technology and people to drive efficiency and support strategic execution [22][24] Question: Competitive landscape for deposits and ability to reduce costs? - Management expressed cautious optimism for deposit growth, anticipating challenges in the fourth quarter but expecting low single-digit growth in 2026 [25][26] Question: Margin guidance and interest-bearing deposit costs? - Management confirmed that the spot rate on total deposits was 100 basis points, with expectations for net interest margin expansion [29] Question: Update on mainland loan growth and SNIC exposure? - Growth was noted in industrial and multifamily sectors, with total SNIC exposure around $526 million [32][34] Question: Capital management and potential for capital return? - Management indicated a proactive approach to capital return while prioritizing loan growth and share repurchases based on market conditions [42][44] Question: Opportunities with the new Japanese bank partner? - Management expressed excitement about the partnership with Kyoto Shinkin Bank, aiming to facilitate economic opportunities between Hawaii and the Kyoto region [46]

Core Insights - Titan International, Inc. has completed a strategic partnership with Rodaros Industria de Rodas Ltda., a major Brazilian manufacturer of agricultural and construction wheels, following regulatory review [1][2]. Group 1: Partnership Details - Titan has made an initial cash investment of $4 million for a 20% ownership stake in Rodaros, with plans to acquire the remaining 80% by 2029 based on financial performance [2]. - Titan will secure one seat on Rodaros' three-member Board and will provide financial leadership [2]. Group 2: Strategic Importance - The partnership aims to enhance Titan's offerings in the agricultural and construction sectors by combining Rodaros' manufacturing capabilities with Titan's tire production and distribution [3]. - Titan's CEO emphasized that this collaboration will allow the company to distribute integrated wheel/tire assemblies to existing OEM customers in Brazil, which is the third largest agricultural market globally [3]. Group 3: Future Outlook - The partnership is expected to create significant growth opportunities for Titan and improve service to customers, aligning with the company's goal of being a reliable supplier for both wheels and tires across key global markets [3]. - Rodaros' CEO highlighted the shared values and complementary expertise that will drive synergies and added value for end customers [3].

Core Insights - Wendel is entering exclusive negotiations to acquire a controlling stake in Committed Advisors, a private investment firm focused on mid-market secondary transactions, with a commitment to support its future development [1][2] Group 1: Transaction Details - Wendel plans to acquire 56% of Committed Advisors' shares, with an initial payment of €258 million and potential earnouts of up to €128 million based on performance targets [3][4] - Wendel will allocate up to €500 million for anchor commitments in Committed Advisors' successor funds and new strategies, with a focus on secondary mid-market transactions [4] - The remaining 44% of Committed Advisors' shares will be acquired through subsequent transactions scheduled between 2029 and 2035, with valuations linked to growth in Fee Related Earnings (FRE) [5] Group 2: Financial Projections - Committed Advisors is expected to generate approximately €70 million in management fees and €45 million in pre-tax Fee Related Earnings in 2026 [1] - Following the transaction, Wendel Investment Managers' total Assets Under Management (AuM) would exceed €46 billion, with pro forma Fee Related Earnings of €200 million in 2026 [2] Group 3: Company Background - Committed Advisors, founded in 2010, manages €6 billion in private assets and has completed over 220 transactions, focusing on mid-market secondary transactions ranging from €20 million to €200 million [1][8] - The firm has a strong track record, delivering a gross Internal Rate of Return (IRR) of 19% across its funds [4][8] Group 4: Strategic Alignment - The partnership will allow Committed Advisors to operate autonomously while benefiting from Wendel's resources, enhancing its growth in a secondary market that has more than doubled since 2021 [2][7] - Both companies emphasize a shared long-term vision and values, with Committed Advisors' management retaining a 44% equity interest post-closing and committing to reinvest initial proceeds into successor funds [4][7]