March 2017 Issue

The Ares/American Capital transaction closed in January but only after months of due diligence, negotiating and board meetings. PDI meets the team behind the deal.

The biggest deals and the most successful firms from around the world.

SSG Capital Management, Citi and Pemberton were also among the notable winners as we boasted more votes in more categories than ever before.

The leaders of the asset class in the Americas.

The leaders of the asset class in Europe.

The leaders of the asset class in Asia-Pacific.

Man Group’s acquisition of Aalto comes at a difficult stage of the cycle, but with many investors disenfranchised from other investment strategies, now might be the right time to enter the real estate debt market, finds David Brooke.

Many LPs are managing their own private debt strategies to sidestep fees, but USS is the first to start providing loans to the funds themselves, writes David Brooke.

With financial regulation under the microscope, many managers have a positive outlook on the implications for private debt. Nick Jardine reports

Corporate defaults reveal the stresses and strains

Europe has provided slim pickings for distressed debt funds since the financial crisis. Yet with nearly €1trn of non-performing loans still held by the region’s banks, will 2017 herald a wave of opportunity?

Complexity and volatility mean institutional investors tread carefully when it comes to business development companies. But improving performance and favourable legislation may force them to think again.

Banks are selling bad loans across Europe, but one country stands out.

The ‘special sits’ label enables you to raise capital all cycle long, according to two major US distressed fund managers.

Following the December acquisition of Sound Harbor Partners and two private debt teams from Allianz Investment Management, Deborah Zurkow, head of alternatives for AllianzGI, spoke to Nick Jardine about the firm’s next steps

As the European private debt market gets more competitive, local fund managers find their search for bigger returns is taking them across the Atlantic.

Investors are increasingly recognising the benefits of running private debt and liquid senior secured debt strategies in tandem, according to Max Mitchell and Zak Summerscale of Intermediate Capital Group.

As the European private debt market gets more competitive, local fund managers find their search for bigger returns is taking them across the Atlantic.

Non-sponsored finance was one of the leading trends in the private debt universe in 2016, but it’s a strategy that demands plenty of commitment and resource.

Consolidation among business development companies grew during 2016, but rising prices and asset values may reverse that trend.

Private debt is continuing its ascendancy since the UK’s vote to leave the EU, but is now pushing investors into new territories.  

Chinese debt is a huge opportunity for investors, provided they can find the information needed to take advantage.

As director of rates and credit, Joaquin Lujan oversees portfolio construction for roughly 35% of Public Employees Retirement Association of New Mexico’s  $14bn portfolio. He offers his thoughts on the coming year.