Mit den gestiegenen Zinsen wächst die Angst vor Kreditausfällen, die die Stabilität des Finanzsystems bedrohen könnten.
Geschäft mit privaten Kreditfonds boomt – doch es gibt Risiken
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Private Debt News
Von Private-Debt-Secondaries profitieren
Der Rückzug der Banken bei der Kreditvergabe hat aufgrund von Konsolidierung und verschärften Kapitalbeschränkungen nach der globalen Finanzkrise zu einer weiteren Verschiebung der Kreditvergabe von Banken hin zu privaten Kreditfonds geführt. Bis 2022 haben diese ein verwaltetes Vermögen von 1,4 Bio. USD erreicht – und es wird erwartet, dass sich dies in den nächsten fünf […]
Linklaters advises Copenhagen Infrastructure Partners on their €325m debt financing of Ilmatar
Linklaters has advised Copenhagen Infrastructure Partners through its Green Credit Fund 1 together with certain co-investors, including Kommunal Landspensjonskasse and P Capital Partners, on their €325m debt financing of Ilmatar Energy Oy (Ilmatar), a Nordic renewable energy company and independent power producer. The financing involves a committed tranche of €325m and an uncommitted accordion of […]
Hedge funds diversifying into private debt
With private debt well-positioned to navigate the difficult market headwinds, the potential to provide reliable income, high risk-adjusted returns, and access to a wider mix of institutional investors is attracting institutions – including hedge funds managers – to the asset class.
Understanding and Navigating the Complex World of Mezzanine Loans in Real Estate
Navigating the complex world of mezzanine loans in real estate can be a daunting task, especially for those who are unfamiliar with the intricacies of this type of financing. Mezzanine loans are a unique form of debt that sits between senior debt and equity in a company’s capital structure. They are often used in real […]
Mezzanin-Kapital: Nachfolge – Mit einer stillen Beteiligung den Unternehmenskauf finanzieren
Der Kapitalbedarf bei der Nachfolgefinanzierung ist hoch. Keine Frage. „Und trotzdem ist er meist stemmbar – wenn der Finanzierungsmix stimmt“, sagt Dr. Steffen Huth. Er ist Geschäftsführer der Beteiligungs-Managementgesellschaft Hessen (BMH) und rät Übernahmewilligen, nicht ungeprüft aufzugeben: „Sind Konzept und Qualifikation überzeugend, können wir bei der Finanzierung oft helfen“, so seine Erfahrung. Wie eine gute […]
Blackstone Gets $8 Billion in First Close of Direct Lending Fund
Blackstone plans to raise $10 billion from institutions Big private lenders increasingly able to write larger checks
Union Investment lässt Aam2cred in die Insolvenz gehen
Der unter anderem im Mezzanine-Segment tätige Finanzierer Aam2cred ist im Insolvenzverfahren. Der überraschende Ausstieg des Gesellschafters Union Investment hat das Schicksal des Debt-Fondsmanagers in schwierigen Zeiten besiegelt. Die Pläne für die vor zwei Jahren angekündigte Fondsserie von Aam2cred und Union Investment wurden beerdigt.
The G20’s approach on debt has failed
A crisis that will set back many developing countries for decades has been brewing since the onset of the pandemic. The debt defaults began slowly in 2020 but are now speeding up; Chad and Zambia defaulted in 2020, then Ghana and Sri Lanka in 2022. Ethiopia, Egypt and Tunisia are tipped to default next, while […]
Direct lending trusts slowly disappear as discounts persist
Direct lending-focused investment trusts are leaving the sector one by one as deep discounts persist and the current market conditions have investors looking elsewhere for yield. Direct lending trusts are trading on an average 25.7 per cent discount, with GCP Asset Backed Income having the largest, at 38.18 per cent and Riverstone Credit Opportunities Income […]
Barings plans Australian private debt fund to fill funds gap
Barings LLC is planning an Australian private credit fund, seeking to provide an alternative to banks and the bond market, an executive at the investment company said. The fund, to be launched by Barings Australia, hopes to raise A$1.4 billion (US$893 million) from institutional and high net-worth investors in the next 12- to 18 months. […]
David Stevenson: Private credit is hot, but UK-listed debt funds are not
Institutional investors are excited about opportunities in private, off-market lending but London-listed closed-end debt funds are deeply out of favour. Could interest rate cuts help?
Private debt was supposed to collapse when rates rose. Instead it is everywhere
Alternative lenders can reap rewards from refinancing and recapitalising firms, but they also risk fuelling a kind of Ponzi scheme.
Foreclosure notices on mezz loans at all-time high
There’s no shortage of angles from which to view commercial real estate distress these days. Mezzanine loan foreclosures is yet another. The number of foreclosure notices from lenders on such loans has never been higher, the Wall Street Journal reported. In addition to carrying higher interest rates than senior loans, mezzanine debt is easier to […]
Private Debt Was Supposed to Collapse When Rates Rose. Instead It Is Everywhere.
Wall Street’s doom-mongers spent years warning that private lenders would be the next bubble to burst when central banks tightened policy. Instead, the funds are becoming even more ubiquitous as companies scramble to refinance debt in a higher interest-rate environment.
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