Oliver Smiddy
The number of European deals with a covenant-lite loan package more than doubled in the second quarter, according to Marlborough Partners’ Q2 review.
Pemberton Asset Management become the latest manager to partner with a large institutional investor last month. While the deal is certainly a statement of ambition, it’s also a defensive move for the firm as banks return to the market.
Globally focused multi-asset managers continue to dominate our proprietary ranking of private debt fund managers, but John Grayken's firm Lone Star has topped the rankings this year.
.jpg "Cockell replaces Bosson at RBS")
Steve Cockell (pictured) has taken on the role of RBS’ London-based head of origination following the retirement of veteran Paul Bosson.
.jpg "Adamas-backed BRJ reaps rewards")
BRJ China Credit Fund, which provides short-term bridge financing to Chinese SMEs, has delivered a gross IRR of 57 percent since its launch last year.
The Canadian firm’s growing credit arm will have a role to play in helping the group increase its own capital under management to $10bn by 2017.
The US $325m cov-lite package used to pay down debt and issue a dividend to shareholders marks the third refinancing by 3i-owned materials testing group Element Materials Technology.
The US firm, which spun out of HSBC in 2011, has completed its fifth deal using capital from its second fund.
The US lender is understood to be auctioning a portfolio of NPL real estate loans in two tranches.
.jpg "Praesidian bolsters team with MD hire")
Wes Owen joins the firm to focus the SME lending specialist to focus on business development.