John Bakie
The second lien facility complements a £1.2bn senior debt package.
Distressed fundraising in H1 2018 is already at 2017’s total.
The hire will help Kartesia develop new CLO products for its investors.
The special situations offering will be followed up with a new fund of funds at the end of this year.
The debt administrator’s European experience will assist the platform’s rollout across the continent.
Liquidity and diversification are among the key issues investors in private debt are grappling with.
The Luxembourg-based vehicle hopes to surpass the efforts of pan-European funds with a strong focus on German assets.
Why has private debt so far failed to mine the rich seam of non-sponsored deal opportunities?
German deal activity has been flat for years.
The fund manager plans to take on Europe and wants to make CLOs widely available to investors.