Rachel McGovern
.jpg?id=19327354094 "Black Toro launches Fund II with cornerstone investment")
The Spanish-focused debt and equity provider has launched its second fund with a €350 million target. Existing investor Allstate Investments has come back in as cornerstone investor in the new fund.
News that global banks will have to raise up to €1.1tr in loss-absorbing capital creates an opportunity twice over for alternative credit providers.
Short-term real estate lender Amicus Finance is expanding into SME lending with a new commercial finance business. The firm has hired two working capital veterans to run the new lender.
.jpg?id=12885377095 "Alternative credit use to rise in Europe – survey")
The Allen & Overy study sampled current and future appetite for alternative financing in Europe. More than 50 percent of mid-sized corporates said they intend to increase their use of non-bank lending options.
CR Investment Management has hired a real estate debt NPL specialist as part of its push into debt and equity capital markets.
The high-growth, no-covenant European lender is closing in on its fifth fund, which will be larger than its 2013 €240 million predecessor.
The firm refinanced IGM Resins with a unitranche facility and Suitsupply with a PIK note for its management buyout.
The deal, which would have doubled the alternative manager’s debt and equity real estate assets to $27 billion while boosting the firm’s permanent capital to $95 billion, has fallen through. Neither Apollo nor AR Capital gave an explanation.
.jpg?id=19327362746 "Sankaty scoops up GE leasing assets down under")
The Bain Capital affiliate picked up the portfolios at a discount, according to local media reports. The sale marks GE Capital’s exit from Australia and New Zealand.
.jpg?id=19327353638 "BlueMountain closes $1.3bn multi-asset fund")
Summit Opportunities Fund II will target a 15 percent allocation to CLO equity as the firm develops its securitisation platform and ramps up its first European CLO.