December / January 2015 Issue
Argentarius: Beyond the banks
The European financial system is failing SMEs as the bank lending market continues to retrench. Fortunately, there are other options that open this market to investors and with the right structuring, securitisation and other instruments that can fill the gap, writes Andreas Wölfl
ESO Capital: Consistency amid changing markets
Private debt in Europe represents a strong investment opportunity. But with loosening structures and increasing leverage, investors must seek disciplined managers, writes ESO Capital’s Olya Klueppel
Keynote interview: LCM Partners
LCM Partner’s Paul Burdell has seen and done a lot over his 30-something years in financial markets, not limited to pioneering the secondary market for bad consumer debt in the UK
Termsheet: Quiksilver
Once fashionable clothing brand Quiksilver has restructured its US business with the help of a debt-for- equity swap by Oaktree. Anastasia Donde reports
European special intro
Our European special brings you the thoughts and comments from a range of market players. And as the cycle edges towards its peak, everyone is focusing on keep investors happy, finds Rachel McGovern
The Last Word: Investec
Investec’s London corporate and acquisition finance team has lent £1.4bn to private equity clients and their portfolio companies in the last year.Head of the division, Callum Bell, talks to Rachel McGovern about the European mid-market and his firm’s plans
Filling a bank-shaped hole
Filling a bank-shaped hole Irwin 2015-12-01 Speizer as private direct lending grows across the world, investors – particularly institutional investors – are being drawn to its promise of attractive returns with features that can be like a cross between fixed income and private equity. Ho
PDI Capital Structure Forum
From fee structures to the potential gap between what investors want and managers can provide, PDI’s third annual European conference heard as much discussion of challenges as opportunity. Anna Devine reports
The battle for TICC
The protracted fight over TICC Capital Corp is ugly, but it may benefit the BDC industry if it airs some festering problems, writes Anastasia Donde
Capital Talk: BlueBay Asset Management
High on their large and rapid fundraising, BlueBay’s private debt team tell Rachel McGovern that there’s never been a better time to be in European direct lending
European Roundtable: Cracking the investor code
Not all debt investments are created equal. Four lenders and a trustee spanning the many realms of private debt in Europe today joined Anna Devine and Rachel McGovern to discuss the tricky yet still promising landscape before them