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Andrew Hedlund

Andrew Hedlund
Andrew Hedlund is the Americas Editor at Private Debt Investor where he reports on the private debt market and coordinates coverage of the asset class. Before joining PDI, he reported on corporate bankruptcies for The Deal and Reorg Research, two financial trade publications. Andrew received a master's degree from Northwestern University’s Medill School of Journalism. He also earned bachelor of arts degrees in from Arizona State University.
As US federal leveraged lending guidance statutes have become a thing of the past, banks are showing a willingness to compete with direct lenders.
The alternative asset behemoth is well positioned for a downturn as it monitors portfolio liquidity and credit lines, the firm’s co-president said.
Volatility has made unitranche an appealing option in a market where some syndicated deals are requiring an increase in pricing to get across the finish line.
The alternative lender backs both sponsored and non-sponsored businesses with its flagship fund series.
The real estate lender is charging a 1.5% management fee, according to Arkansas pension fund documents.
In the US, unitranche loans have given the senior-junior debt capital structure a run for its money in recent years, but mezzanine lenders are still finding deals.
pile of rolled dollar note bundles
Ironically, BDC first-lien assets have increased in recent years, but a larger share of BDC assets are considered distressed than the overall secondaries market.
LPs and bankers had some advice for GPs on competitive differentiators, workout processes and predictions of private debt performance.
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.
The firm's founder took a position early on in its development that modest goals and bold ones required similar effort to achieve. So why not aim high?
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