Shares of banks and other financial institutions rose in anticipation of an investment-banking bonanza.

SpaceX debuted roughly 20% above its initial-public offering price, closing around $160. The total fee pool for the $75 billion IPO is around $500 million, or 0.7% of the total capital, with Goldman Sachs Group and Morgan Stanley to pocket roughly $100 million apiece.

Investors in BlackRock's flagship private-credit fund asked to redeem a collective 13.3% of the fund's shares in the second quarter, an increase from 9.3% in the previous period. Private-credit firms have been dogged by redemptions demands for months due to concerns about exposure to ailing software firms and other questionable debtors. The pools of capital, used for long-term, direct loans to corporations, are not designed to function with short-term investor turnover.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

06-12-26 1740ET