John Bakie
France joins the UK as a major destination for private credit deals but the rest of Europe lags behind.
The experienced infrastructure fund manager has closed its inaugural debt vehicle above target.
Last year ended with two significant investments in private debt operators, with Cerberus Business Finance selling a minority stake while Fortress Investment Group was acquired by SoftBank.
While more traditional lending strategies dominate investor allocations, more are looking at opportunities in niche offerings.
Research shows a significant number of LPs are currently under allocating to debt funds.
Confidence in private debt holds up well, but investors seem to be concerned for the future.
With the mid-market looking increasingly crowded, fund managers seeking improved returns are turning to speciality finance.
Tony Ressler will take up the role of chairman as Ares brings in younger debt specialist for the top job.
Despite major fundraising this year, 2016 vintages continue to dominate our European fundraising top 10.
The fund manager founded last year has now made its first two deals with private equity sponsors.