John Bakie
The deal is the first for the combined group, which is aiming to provide more hybrid debt and equity solutions.
Three investments of both unitranche and mezzanine bring the fund closer to full investment.
The deal with Sound Point will see a vehicle purchase equity in its CLOs.
North America has seen covenants significantly weaken as credit supply expands.
As more of the world’s pension wealth heads towards defined contribution schemes, private markets managers will need to come up with solutions. John Bakie reports
The hires bring Cheyne’s SVC team to ten people focused on stressed but performing mid-market loans.
The listed vehicle will look to invest in ships and shipping companies with predictable cashflows and low correlation to other markets.
The investor in boutique fund managers is looking to focus on private markets specialists, including debt managers.
Infrastructure debt has raised significant funds in recent years but has failed to take off in 2018.