Rachel McGovern
Intermediate Capital Group, the credit specialist and asset manager, announced that it has hired Michael Curtis and Benjamin Edgar as portfolio managers and co-heads of its European loans platform.
The Portland, Oregon-based firm has structured a collateralised bond listed in Luxembourg to give European investors UCITS-compliant exposure to a US consumer debt consolidator.
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The firm, which has originated around AUD6 million in consumer loans, is the first marketplace lender to list on the Australian stock exchange.
The €74 million refinancing increases the aluminium product maker’s available credit to back the firm’s expansion plan.
The Germany-based advisory firm and asset manager has just launched a credit opportunities fund which will invest with managers focused on distressed credit investments in the US and Europe.
.jpg "Study: Niche mid-market credits a safer bet")
A new study of over 500 mid-market companies in EMEA by credit ratings agency Standard & Poor’s finds that mid-size sponsor-less companies hold more vulnerable business positions but make up for it with financial conservatism.
%2080.jpg "Exclusive: Alcentra ups target in second DL fundraise")
BNY Mellon-controlled Alcentra has launched its second direct lending fund. The new vehicle will include both levered and unlevered sleeves with a target well above the €850 million debut European direct lending vehicle.
The new open-ended fund offers access to the firm’s private credit strategy but does not tie-up investor cash for a set period. Investors can give notice when they wish to withdraw funds and will be repaid as the private assets mature.
Watching the latest episode of the Greek drama unfold from meeting rooms on the top floors of New York’s high rises offers an interesting perspective. And for credit markets at the moment, it’s the right perspective.
The independent subsidiary of Cargill raised the distressed credit fund in just over a year.