Ares Management Corporation’s co-president Blair Jacobson said there’s a “real disconnect” between negative headlines about private credit and what the firm is seeing across its portfolio companies.

Intesa Sanpaolo SpA Chief Executive Officer Carlo Messina signaled he’s prepared to address any counterbids for Banca Monte dei Paschi di Siena SpA, after unveiling an offer that valued the world’s oldest bank at more than €30 billion ($35 billion).