EDITOR'S PICKS
MOST RECENT
NEWS & ANALYSIS
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DATA SNAPSHOT
SPECIAL REPORTS
OPINION
At the back of the secondaries queue
Private debt is behind other alternative asset classes when it comes to secondary activity and opinions differ as to when it’s worth taking seriously.
Who’s right about the CLO market?
A regulator’s report appears to confirm that fears about collateralised loan obligations were merited. Those involved in the market, however, are looking forward to a fruitful year.
How cash can leak out, even in default
The restricted payments covenant has changed unrecognisably as borrowers seek more room for manoeuvre in a downturn.
Investor intentions signal opportunity for debt fund lenders
Strong institutional demand for more risk plays into the hands of non-bank property lenders.
How SSG closes the gap for Ares in Asia
The purchase of the Asian lender jump-starts Ares Management’s operations in the region, where many of its peers already have devoted resources.
Fundraising on the slide, but no crash landing
Although private debt capital raising continued to decline last year, investors are far from abandoning the asset class.
SPOTLIGHT: REAL ESTATE
Benefit Street Partners acquires real estate portfolios from Broadstone
The deal transfers management of two real estate funds to BSP including investment professionals and salespeople.
SAID AND DONE
“Although I’ve made reference to them in some past memos, games have played a bigger part in my life than you probably know. Because of the many connections between investing and gambling, many of the investors I respect play blackjack, poker or backgammon”
Oaktree Capital co-chairman Howard Marks in his latest memo on the role of gaming in his life
PERSON IN THE NEWS
INVESTOR SPOTLIGHT
TERMSHEET
LARGEST FUND CLOSES IN 2019
THE BIG NUMBER
68%
Percentage of respondents to an Intertrust survey who predict that demand for fund finance will continue to rise over the next five years. 35% of respondents said that the biggest challenge to fund finance was the negative perception it has among certain investors.
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