An aggressive landmark 'uptier exchange' by mutual funds, despite confusion and talk of perjury, is prevailing.
Claim fits with Winkelried’s declared priority to “add a credit strategy”.
Falling activity in the UK and Germany enabled France to become the top market for European private debt deals for the first time.
The firm has completed five deals across northern Europe, including its first in Denmark.
Macroeconomic developments seem to have taken a more positive slant, but the need to refinance will expose weaker credits in the end.
PDI Distressed 2022 cover theme
Distressed fund, launched in February, is part of the firm’s capital solutions series, source says.
The sponsored buyout market has been the increasing focus of direct lending activity in recent years. But as that market comes under pressure, might non-sponsored deals finally thrive?
The UK saw a significant drop in overall mid-market financing during 2022, while banks secured increased market share.
As technology businesses grew in favour, lenders adapted to a different type of financing – only to now see it come under scrutiny as interest rates rise and economic growth slows.
Begins life with a portfolio of approximately $350M, including TIAA commitment.

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