Andrew Hedlund
The new heads of private credit had been looking for a home since their former firm was sold last fall.
The new hire comes during NXT’s efforts to raise a significant amount of capital, having already closed on $1.16bn so far this year.
.jpg?id=12885368223 "SBCERA PE portfolio beats index in Q2")
The $9.19bn pension plan’s total fund gross quarterly returns missed its benchmark by 0.1 percent.
The alternative lending titan told analysts and shareholders the reasoning behind its purchase of two business development companies’ books and said it wouldn’t shy away from future such buys.
An undeniably frothy private credit market makes for precarious times: it’s never been better to be a private debt manager but there are plenty of signs pointing to an over-exuberant market.
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The credit investing giant, based in the Big Apple, has a large presence in the insurance business through Athene, which makes up a substantial portion of the Apollo’s assets under management.
The firm’s previous funds have targeted returns of 6-7 percent and 9-11 percent on an unlevered and levered basis, respectively.
A gathering of private equity investors, lenders and advisors in the Windy City heard views from industry practitioners on making the deal process run smoothly.
In the second day at a gathering for deal advisory firms, it became clear that more aggressive deal terms aren’t confined to companies with $10m to $50m of EBITDA.
A hack can be detrimental to a business’s valuation if it is going through a sale process, one expert said at the AM&AA conference.