Private Equity

Private debt

Dyal: GPs are using stake sale proceeds to capitalise on dislocation

A number of GPs are using flush balance sheets to seed their own distressed debt funds, according to firm head Michael Rees.

2 min read · 30 March 2020

China’s CBC expands into private credit via healthcare fund – exclusive

Deal sourcing will be led by Peng Fu, a former MD at Chinese investment manager Fosun, according to an investor email seen by PEI.

2 min read · 26 February 2020

Waiting for the explosion: The dangerous game of covenant-lite

Fewer covenants can provide greater flexibility in dealing with portfolio company difficulties, but they may also prevent lenders from negotiating rescue plans with borrowers and sponsors. Andy Thomson and Andrew Hedlund investigate

10 min read · 10 February 2020

EQT conducts strategic review of credit business

The firm is also on track to open offices in Paris and Sydney before the end of March, according to its latest earnings announcement on Thursday.

2 min read · 23 January 2020

Nuveen creates $21bn PE and debt manager via Churchill combo

The firm will invest throughout the capital structure after previously being a senior debt-only shop.

2 min read · 17 January 2020

Why the wheels have fallen off distressed debt

The strategy’s performance is struggling to live up to expectations. Should investors keep faith with a sector still waiting for the right market conditions?

9 min read · 28 October 2019

iCapital Network on democratising access to private credit

As demand from non-institutional investors for private credit exposure increases, iCapital Network’s Lawrence Calcano considers how technology and education can help bridge the gap.

5 min read · 01 October 2019

Dyal’s new credit vehicle: a look under the hood

We examine the debt fund's loan terms, expected performance and opportunity set.

2 min read · 16 July 2019

Dividend recapitalisations are back on the rise

With fears of a financial downturn in 2019 on the back burner, the strategy of adding additional leverage is trending upward.

3 min read · 10 July 2019

An introduction to the unitranche market

Experts from PwC outline why this form of lending is an attractive financing option for mid-market leveraged buyouts.

5 min read · 10 July 2019

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