Private Debt News

Was wusste die Finma über die Benko-Kredite? Laut Insidern begleitete die Bankaufsicht Julius Bär eng. Dennoch kam es zum Debakel.

The prospect of lower interest rates and more lending activity is expected to accelerate hiring of private credit and structured finance professionals in 2024. The pace of hiring across the many flavors of private credit and structured finance slowed during the first half of 2023, while the Federal Reserve continued to raise its benchmark interest […]

Annual profits plummeted 52 percent.

BNP Paribas expanded further into the fast-growing $1.7T private credit market as it seeks to raise €1B ($1.1B) for a new direct-lending fund, according to a media report dated Wednesday.

Mezzanine deals are predicted to surge this year, as high interest rates and tighter credit conditions present opportunities for lenders. Mezzanine debt bridges the gap between senior debt and equity financing and is one of the higher-risk forms of debt, producing returns of up to 20 per cent. It had been through a decade-long period […]

Die Schweizer Privatbank Julius Bär hat das größte Einzelengagement aus ihrem Private-Debt-Kreditbuch in Höhe von rund 600 Mio. Euro vollständig wertberichtigt, das der insolventen Signa-Gruppe zuzuordnen ist. Konzernchef Philipp Rickenbacher nimmt seinen Hut.

Speaking of recoveries: With the increased interest in private credit comes additional focus on how this opaque (unrated) asset class will perform in worst-case scenarios. Blue Owl Capital — a major player in the space — says recoveries on direct lending deals are projected to be roughly 75%, considerably higher than some projections for the […]

Benefit Street Partners (BSP) announced the final closing of its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Consistent with prior vintages, this fund seeks to generate attractive risk-adjusted returns by investing primarily in privately originated, floating rate, senior secured loans.

In this report, we discuss the evolution and current state of the European private credit market, compare broadly syndicated loan and MM CLOs, and explore other types of lending facilities to private debt portfolios. KBRA has a unique insight into the landscape and trends in private credit. A comprehensive list of KBRA publications on private […]

Der Morgan Stanley Direct Lending Fund gab am Dienstag bekannt, dass er bei seinem Börsengang 103,35 Millionen Dollar eingenommen hat.