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DISTRESSED DEBT & SPECIAL SITUATIONS

OPINION

Goodbye Libor, hello uncertainty

Libor has underpinned financial products for decades. But it could be phased out in less than three years, with huge implications for private debt lenders.

The need to nurture permanent capital in Europe

Reasons for longer-term vehicles in private debt are growing, with one being the requirement to support businesses traditionally backed by banks.

Distressed: Is it worth the wait?

Timing, fees and manager differentiation are among the key issues for limited partners prepared to take a punt on GPs that thrive on turmoil.

EDITOR'S VIEW

DATABASE

SPOTLIGHT: LIMITED PARTNERS

PDI LIVE

SAID AND DONE

“The credit underwriting fits within the private equity timetable, and what you’ve seen is an acceleration of the underwriting. You can’t compromise the diligence you do, but you can put more resources behind the diligence over the shorter period.”

Anonymous mid-market lender on shorter timeframes for due diligence

PERSON IN THE NEWS

LATEST DOWNLOADS

INVESTOR SPOTLIGHT

TERMSHEET

LARGEST FUND CLOSES OF H1 2019

LONG READ

THOUGHT LEADERSHIP

PEOPLE

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.

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