EDITOR'S PICKS
MOST RECENT
NEWS & ANALYSIS
Got a story for us? Let us know anonymously here
DATA SNAPSHOT
EUROPEAN REPORT 2019
Europe report 2019
Global private debt fundraising declined last year, but the European market has held up well. In our PDI Europe Report 2019, we look at...
OPINION
Why LPs are on their guard
It’s a time to be alive to questionable claims as well as the requirements of a changing market, according to investors at the PDI New York Forum.
A 5.5x EBITDA loan? Sure, you can call it senior secured
Unitranche has found favour post-GFC as a result of its simplicity. But investors should make sure not to ignore it goes much deeper in the capital structure than traditional first lien senior secured debt.
Permanent capital can increase access to private debt
In our September magazine’s Deep Dive, investment professionals stressed the benefits of permanent capital. One overlooked advantage is making the asset class more accessible.
SPOTLIGHT: LIMITED PARTNERS
Pennsylvania PSERS weighs three commitment pacing plans
The US pension plan discussed five-year scenarios that include annual commitments of $400m, $550m and $700m.
SAID AND DONE
“Having successfully transitioned the business to Dwight and a strong leadership team over the past several years, this is the right time for me to step back from the day to day management of the organisation.”
The last of GSO’s founders, Bennett Goodman, announced his retirement
PERSON IN THE NEWS
INVESTOR SPOTLIGHT
TERMSHEET
LARGEST FUND CLOSES OF H1 2019
| Lone Star Fund XI | $8.20bn |
| BlueBay Direct Lending Fund III | $6.78bn |
| Lone Star Real Estate Fund VI | $4.70bn |
| GSO Energy Select Opportunities Fund II | $4.50bn |
| Broad Street Senior Credit Partners II | $4.40bn |
NUMBER OF THE WEEK
13%
Burgiss data found that, on average, senior debt funds generated strong double-digit returns at the 10-year mark. They garnered a pooled 10-year internal return rate of 13.32 percent, net of fees, compared with the five-year average of 6.29 percent.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: subscriptions@peimedia.com.