Oliver Smiddy
Rothschild has passed the halfway mark en route to its €400m goal for a private debt fund, to be co-managed by Edouard Veber (pictured).
.gif "Bayside and Oaktree participate in Consolis restructuring")
The two distressed specialists were part of a syndicate that helped to restructure LBO France-owned Consolis in a deal which saw significant write-offs for existing lenders.
.jpg "CVC Credit Partners reveals listed fund")
CVC Credit Partners has revealed plans to launch a listed debt investment vehicle on the London Stock Exchange later this year to supplement existing firepower and capture new investors.
.jpg "HarbourVest forms partnership with CIFC")
HarbourVest Partners has agreed a strategic partnership with senior debt specialist CIFC Asset Management that will see HarbourVest broaden its LPs’ exposure to the US debt markets.
Although the number of debt instruments on offer has changed relatively little in recent years, sponsors’ willingness to employ them creatively to best support portfolio company growth has grown markedly. Oliver Smiddy speaks with the head of LBO investor Permira’s financing group, Maximilian Biagosch, about how financing structures play a role in value creation in today’s market.
Tailoring debt to suit the needs of lender and borrower is paramount if problems are to be avoided.
“When you see the high yield market below 600 bps, run – do not walk, run – the other way.”
It’s tempting to view debt finance as simply numbers on a balance sheet. But for borrowers, living and working with debt is a daily issue. That’s why putting together an appropriate capital structure is so important.
(1).jpg "Stenham fund of credit hedge funds returns 3.4%")
The US manager’s fund of credit-focused hedge funds, launched in January, is short of its return goal of 8 – 12% after its first full quarter.
.jpg "Stonebridge launches sophomore fund")
Infrastructure debt specialist Stonebridge Financial Corporation has launched its second fund, which has a $300m target.