Rachel McGovern
Sale of UK care home provider NHP financed by US REIT, HCP.
Two of the new debt funds are European, while the third is the first produced from Sound Harbor’s CLO partnership with Macquarie.
The Los Angeles-based asset manager confirmed its plans to raise $10 billion for distressed investing and outlined the structure and timeline of these plans on its earnings call last week.
Carroll’s experience includes Cowen & Co and Societe Generale.
In early October, Mario Draghi, president of the European Central Bank (ECB), clarified some of the detail around the central banks’ planned asset buying programme, including information on the qualifying criteria for asset-backed securities (ABS) and covered bond purchases. Later in the month, leaked information suggested that the ECB was considering adding corporate bonds to the pool of assets included in the quantative easing plan. Rachel McGovern asked private debt practitioners what this means for non-bank lenders and the smaller European corporate borrowers still struggling to finance themselves.
Private debt funds are still partnering with banks – but this trend is unlikely to last forever.
The management of the US-based global asset management firm will think about taking the company private as the opportunity arises.
HIG WhiteHorse supported the purchase of a fire safety product and services company by private equity firm, Apax.
The new direct lending fund will focus on under-financed European companies, sourced from Permira’s private equity network.
The €800 million portfolio, sold by Bankia, is the biggest such asset sale in Spain.