This is the Washington, DC-based company’s first ever credit-focused investment vehicle.
Lone Star founder John Grayken sees a limited window for distressed investing while most people wait for private real estate market conditions to settle. He discusses it with Jonathan Brasse.
Equity-focused managers tell the PERE Europe Forum they are increasingly considering lending strategies.
The manager has raised €1.2bn for European-focused debt opportunities as volatility persists.
There are few signs yet of any major stress in the market, but interest rate rises and refinancing worries give some cause for concern, delegates at the PDI Europe Summit 2023 heard.
Higher interest rates could also stall efforts to refinance maturing debt.
Next thing you know, private credit will be bailing out the banking system. Past experience of crises will ‘come in handy’ says one industry professional.
One-third of the maturing loans were made by CMBS lenders a decade ago; the report also finds transaction volume in February plunged from the previous year.
GPCA report says private credit reached a record, besting private equity and venture capital, largely due to distressed opportunities.
Some sponsors are in liquidity binds because they must wait longer to get carry.