Oliver Smiddy
Restructurings in France are seldom easy, but Park Square and ING managed to achieve consensus amongst fellow lenders, shareholders and management when they helped to restructure tile-manufacturer Terreal this summer.
Welcome to Private Debt Investor’s first annual ranking of private debt managers.
.jpg "Rothschild nears close for Five Arrows fund")
The bank's Five Arrows private debt team, led by Martin Hook and Edouard Veber, has garnered commitments of around €300m for its first private debt fund.
.jpg "Average leverage reaches 5.75x")
Leverage multiples for large European buyouts have risen to their highest point since the pre-Lehman market peak.
.jpg "Alcentra and Prefequity team for UK deal")
UK-based private debt firm Prefequity arranged the deal, which has initially been underwritten by Alcentra.
Private Debt Investor rather likes surfing, and must confess, in the interests of full disclosure, to owning a Billabong wetsuit. So it viewed with interest the latest development in the protracted battle for control of the ailing Australian surfwear company.
.jpg "Distressed investors sweeten offer")
Oaktree and Centerbridge have given Billabong’s board cause for thought two days after regulators approved a rival offer from Altamont Capital Partners.
.jpg "TPG poised to launch second distressed fund")
TPG, led by David Bonderman, is seeking to raise a successor to its previous credit vehicle, TPG Opportunities Partners II, which raised $2.41bn.
.jpg "McCarthy & Stone agrees huge refinancing")
The company has refinanced its debt in a £527m deal which sees its existing backers inject fresh equity.
.jpg "KKR’s maiden maritime vehicle sets sail")
The firm’s joint venture with CPPIB and Stone Point, MerchCap Solutions, helped to arrange some of the $580m in commitments for the new vehicle.