Oliver Smiddy
.jpg "Friday Letter: A helping hand")
The UK government’s initiative to compel banks which decline loan applications to introduce those would-be borrowers to alternative lenders is a welcome boost for the private debt industry.
Following a consultation paper launched in March, the UK government will table legislation designed to compel banks to direct SMEs they decline to finance to alternative sources of finance.
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.jpg "Laxfield bolsters London team")
The real estate debt specialist has lured Clifford Chance lawyer Owen Bale to its team in London.
M&G Investments has backed another housing association, this time providing £40 million to One Vision Housing in Merseyside, UK.
Mayfair Capital Investment Management's Property Income Trust for Charities has sourced a second loan worth £24m from Canada Life.
The European mid-market is increasingly embracing US-style structures featuring higher leverage, no maintenance covenants and other sponsor-friendly features, according to Marlborough's Q2 review.
The Central Bank of Ireland’s proposals for a regulatory regime specifically addressing the private debt industry marks an important step forward for the asset class.
.jpg "Oaktree's head of mezzanine departs")
Bill Sacher, who has led Oaktree's mezzanine unit for 13 years, has left the firm following a disagreement about strategy.
The German mid-market is still reliant on its close relationship with the traditional banking community, according to S&P, with no real pressure to change thanks to low gearing and excess cash reserves.