Oliver Smiddy
In 1998, Simon Pilcher’s fixed income group at M&G became the first non-bank investor in the European loan market. 15 years later Europe’s direct lending business is still nascent but M&G is bullish about its future.
Whilst the large multi-asset managers continue to make headlines, there’s a group of managers and investors targeting much smaller investments and thereby addressing a chronic funding shortfall.
.jpg "EQT beats target for second distressed fund")
The Stockholm-headquartered firm garnered €845m in commitments from a broader LP base than its maiden distressed debt vehicle.
The HIG Capital credit affiliate has made its latest investment via a mezzanine loan in Germany.
The pair's European Senior Secured Loan Programme has backed Ergon Capital-owned Nicotra-Gebhardt with a new unitranche facility.
.gif "UK debt fund bolsters investment team")
FW Capital, which manages the Tees Valley Catalyst Fund, has appointed two executives to oversee investments in the north east of the UK, reporting to Joanne Pratt (pictured).
The Blackstone Group is reportedly looking to capitalise on its acquisition of 40,000 residential homes in the US by issuing a bond backed by rental payments.
.jpg "Italian lender agrees RSI deal with EIF")
The deal with Alba Leasing is the 18th Risk Sharing Initiative to be agreed in Europe by the European Investment Fund.
.jpg "Goldman-backed insurer opts for bond")
A week after selling a 50% stake in itself to Goldman's private equity unit, UK car insurer Hastings has launched a £417m bond issue.
.jpg "Deutsche Bank financier joins Investec Specialist Bank")
Alexandre Neiss joins the Investec subsidiary after two years at Deutsche.