May 2016 Issue

With the US risk retention deadline looming, three clear methods of compliance are emerging.

It’s not only in established markets that private debt has seen rapid growth in recent years. Vicky Meek looks at how the asset class Private debt is also developing as an asset class in emerging economies.

Mergers, acquisitions, spin-outs and sell-offs have been on the rise among private debt firms, with more set to follow. But unfavourable market conditions may lead to failures and deals stuck in limbo.

The private debt market in Asia is growing in popularity as dynamics shift in its favour, but investors are still largely operating in the dark.

Investment firms making bridge loans to portfolio companies in distress need to try to ensure they are not subsequently challenged in unforeseen ways.

When MezzVest became MV Credit in November last year, it joined the latest evolution in the European private debt markets, according to its managing partners. Now the firm is carving out a new strategy.

Jean-Francis Dusch, chief investment officer of Edmond de Rothschild Asset Management’s BRIDGE platform, talks about the challenges for alternative lenders and the launch of the firm’s second BRIDGE platform.

 Unitranche offers options to borrowers, but does it offer sensible terms?

The ‘agreement among lenders’ used in unitranche financing is relatively untested. However, there is one example of a court case that provides comfort for those concerned about enforceability. Peter J. Antoszyk and Stephen A. Boyko of Proskauer explain

Unitranche has established itself as a viable product but some careful questions about risk and reward need to be asked in order to make informed investment decisions. Kelli O’Connell and Joseph Lazewski of NXT Capital provide some useful direction.

The breadth of opportunities offered by the lower end of the market is key to unitranche’s sustainable success.