Oliver Smiddy
Private Debt Investor brought together some of the Australian market’s leading private debt fund managers, advisors and investors to discuss the development of non-bank lending in the country. Oliver Smiddy reports.
Welcome to PDI’s second Real Estate Debt Supplement. A year on from our first, the private real estate debt industry appears to be in rude health.
.jpg "Biondi formally takes over as Permira finance head")
Max Biagosch, the former head of buyout firm Permira’s financing group, has left the firm with Roberto Biondi assuming the role.
When Numericable and its parent Altice together issued $21.9bn of high yield bonds and loans in April, it set a new benchmark for high yield issuance. Oliver Smiddy looks at the notable features of the debt package, and at the implications of investor’s appetite for non-investment grade debt.
.jpg "Fitch: PE-owned companies account for 29% of defaults")
The ratings agency's latest report found that recovery rates for LBO and non-LBO debt were broadly comparable.
ICG’s fundraising success through the last 12 months speaks to a broader acceptance of new strategies.
The property specialist has reportedly paid £94m for a tranche of the latest loan portfolio put up for sale by Lloyds Banking Group.
.jpg "Crescent loses EMEA and Asia-Pacific IR head")
Steven Novick, a managing director and head of investor relations and business development for Crescent Capital in EMEA and Asia-Pacific, has left the firm.
.jpg "Proventus holds first close just shy of €1bn")
The Swedish private debt fund manager has raised SKr8.8bn for its third private debt fund, and expects to hold a final close at the end of Q3.
.jpg "Kirkland bolsters London debt practice")
Stephen Lucas, former head of Weil Gotshal’s banking group in London, has joined Kirkland & Ellis’ London office as a partner.