Graham Bippart

Banks hitting concentration limits and syndicating deals, insurance companies coming in as both buyers and lenders, and even rising interest rates all point to a bigger slice of market for non-banks.

NAV structures are now able to suit both borrowers’ goals and investors’ yield targets, but some are worried certain structures go too far, including one that essentially gives borrowers equity at the cost of debt.

Of the the firm’s 15 NAV loan and preferred equity deals in 2021, 80% were done with top 100 private equity managers by size, says an executive at the lender.

Private funds that ignore the new SEC Rule 2a-5 do so at their own peril, says a Duff & Phelps valuations expert.

The organisation aims to cut down on the time, money and energy put into the NDA process.

Private funds that ignore the new SEC Rule 2a-5 do so at their own peril, says Duff & Phelps valuations expert David Larsen.

Lenders are rethinking due diligence after a private equity manager was arrested on charges that he forged LP commitments.

The industry organisation is circulating a draft proposal recommending a host of disclosures on GPs’ use of subscription credit lines, with an eye to helping LPs manage exposure to the lines, allocation to PE and overall liquidity.

The covid-19 pandemic represents the first real test of the framework in the private sector. Here’s why.

Two European LPs have already defaulted on capital calls, and more are rumored, as LPs get hit with a one-two punch of large, often early capital calls and drying up distributions.