Rachel McGovern
Permanent capital is on the rise. But when combined with a public listing, the underlying mismatch cannot be ignored, finds Rachel McGovern.
The investment manager has nabbed a former management committee member from Tikehau to drive the private debt and CLO strategy.
The securitisation was issued by the firm’s business development company and will allow the lender to recycle capital into new lending.
.jpg?id=12885376815 "GE Fleet units go to Element Financial")
The Canadian-headquartered leasing company bought GE Capital’s Canadian fleet business in 2013 and expands its footprint to Australia and New Zealand with the new deal. A subsidiary of BNP Paribas is set to buy the European fleet assets.
The UK-listed vehicle announced that it is 87 percent invested and will seek more funds in a secondary offering.
Debt funds and banks are finding new ways to work together and the resulting structures are starting to cascade into new markets.
.jpg?id=12885345356 "Indian debt fund reaches $205m first close")
The vehicle will focus on privately arranged secured loans within the sub-continent.
.jpg?id=12885364921 "BlueBay backs Danish clothing MBO")
The facility was Silverfleet Capital's first deal with BlueBay as well as its first unitranche financing for a portfolio company.
The Canadian asset manager is also in the market with its fifth corporate debt fund.
ESO Capital will initially build the strategy around its tie-up with marketplace lender ThinCats and plans to expand into both other jurisdictions and types of lending.