Fundraising by private debt firms for impact strategies appears to be picking up, even as ESG integration into mainstream strategies may be declining.
Established managers dominate fundraising and expand the addressable class of borrowers, according to a paper by the manager.
Gillam joins the firm from Goldman Sachs and will be responsible for growing its capabilities in senior direct lending.
The funds build off the two firms’ partnership, which was announced in May.
The federal rule, updated two years ago, requires a high degree of disclosure by asset managers that some say is impossible to obtain. Proskauer’s Mike Mervis and Massimo Capizzi explain key developments since the requirement was introduced.
With borrowers having been put under pressure by rising rates, managers face some tough decisions on whether to sell or stay the course.
A new partnership between the two firms will enable Monroe to expand its activities and see Wendel commit $1bn to its funds.
Amid concerns over pressure on existing loans and revived competition from the syndicated market, there is still an overall positive tone at the PDI Germany Forum in Munich.
Founders can look to asset owners, corporations, government funding and project and equipment finance to scale their operations.
The fund will offer access to an initial group of seven private debt funds through an evergreen structure with quarterly liquidity.