Rachel McGovern
The former GE Capital unit now operates as a standalone business under the Canadian pension plan’s credit investment unit, led by long-term business heads David Brackett and John Martin.
The wave of hirings and firings brought on by industry consolidation is growing, and now bankers are beginning to feel the ripple effect
.jpg?id=19327362746 "GE Capital EMEA head of origination departs")
The firm’s European sponsored finance unit, which is set to be bought by SMBC, has lost a senior executive.
A large wave of redemption notices have been submitted to Claren Road. The Carlyle-controlled firm is a long/short credit hedge fund which has already suffered a run of redemptions which hit Carlyle’s second quarter results.
The French holiday park owner has replaced a mixed bank and debt fund lending group with a larger facility from two debt funds as new sponsor, Stirling Square, takes the helm.
There has been a noticeable smatter of mergers and acquisitions among managers in the private debt market recently. So has the anticipated wave of consolidation begun? And does it benefit investors as much as the managers?
.jpg?id=12885354771 "Investec closes debut African credit fund on $226.5m")
The asset management arm of the South African-headquartered bank attracted private investors alongside the development finance institutions that anchored the Sub-Saharan debt fund. Investec described it as the “first dedicated African credit and debt capital markets fund of its kind globally”.
The firm reported strong second quarter earnings with net investment income per share more than covering the firm’s 35 cent per share dividend.
The vehicle invests in discounted insolvency claims across Asia, Europe and North America.
The London-headquartered credit manager has hired MetLife’s head of mezzanine.