June 2019 issue
Four trends in Asian distressed debt
Deteriorating covenant quality will put some off investing in Asia, but there are attractive opportunities in the region for those who understand the risks.
Is there a strong case for litigation funding?
As investors assess lesser-known assets to meet their investment needs, litigation funders are witnessing a surge of interest. But how appealing are the returns, given the risks in this developing market?
How Europe’s insolvency and restructuring regimes are evolving
European Union member states are gradually harmonising their regulatory landscapes.
Five leading trends in distressed debt and special situations
The prospect of an economic downturn has stimulated interest in the strategies.
Patience and persistence in Asia-Pacific
Johnson Har, head of Hong Kong at Alter Domus, Kevin Williams, head of operations for Asia-Pacific, and Jayesh Peswani, relationship manager for Asia-Pacific, offer their perspective on Asian special situations and how investors can access opportunities onshore and in the broader region.
Why ‘distress’ does not always equal ‘risk’
Kartesia Capital founder Jaime Prieto explains where the future opportunities lie for distressed debt and special situations in Europe
Where the dry powder goes next
Stuart Mathieson, head of Barings’ Global Special Situations Investments Group in London, and Bryan High, co-portfolio manager for the Global Special Situations strategy in the US, discuss the outlook for distressed debt investing.
Where to ramp up in a slowdown
David Forbes-Nixon, co-founder, chairman and chief executive at Alcentra, and Eric Larsson, co-portfolio manager of the special situations team, discuss energy, retail and other opportunities amid economic strain.
US BDCs to take advantage of revised regulations on leverage
The country's 10 largest public business development companies have taken different approaches to accessing debt.
Healthcare under the microscope
There are many approaches to healthcare debt, ranging from investing in companies with negative cashflow up to profitable mid-market businesses. We lift the lid on four ways to engage with the sector
‘There’s an assumption people deserve to be paid a huge amount of money’
What does alignment of interest really mean and does the key to it lie in the economics? We asked four limited partners in Europe what they think about crucial aspects of private debt fee charging
Foreign investors are seeing increasing opportunities in China’s credit crisis
Following a period of loose credit in China, international investors are looking to snap up the wealth NPLs it has generated.
Brexit has not destroyed prospects for private debt funds targeting the UK
Political uncertainty has failed to put a dent in Europe's largest private debt market, but this could change the longer Brexit goes unresolved.
EBITDA on steroids
The EBITDA addback is one of the most worrying aspects of loan documentation. Market professionals detail how prevalent and potentially damaging it has become.
The real me: Tim Atkinson
The principal at Meketa Investment Group speaks about his typical day and passions outside work
‘We are finally starting to see a greater number of managers take responsible investment seriously’
Roy Kuo, the head of the Church Commissioners for England's alternative strategies team, outlines the role of private debt in its investment strategy
Human underwriters still have the edge over their AI counterparts
Artificial intelligence is gaining ground, but humans still have their uses in private debt underwriting
Trend watch
Insurers flock to private debt, the latest asset manager deal and mid-market strength
Despite wariness over leveraged loans, there is no need for a clampdown on alternative credit
As global leveraged loan levels rise, regulators around the world are becoming concerned about a new debt crisis.
Ahead of the next downturn, those without PANTS will feel distinctly exposed
People, alternatives, networks, trust and sustainability are the five watchwords for asset managers, says Arbour Partners' James Newsome.