BC’s credit platform makes another BDC play with OHAI purchase

BC Partners, which launched a credit arm more than two years ago, has made its second BDC purchase in less than a year.

The universe keeps expanding

Private debt funds’ share of buyout market financing has continued to climb, although they are likely to hit the ceiling eventually.

Debt funds pass banks in German LBO financing

In 2012, debt finance for the German leveraged buyout market was completely bank dominated. Seven years on, debt funds have attained a majority market share.

Ares grows insurance platform with acquisition of Pavonia

The credit manager launched Aspida Financial to manage the acquisition of Pavonia Life Insurance Company of Michigan.
Legal books

Designated lawyers could leave lenders in the lurch

Lawyers offer vital protection to debt funds, ensuring their documentation provides funds, and ultimately investors, with covenants and terms they can rely on. But the practice of equity sponsors designating lender counsel could be leaving creditors in the lurch.
energy pipeline

Capital is flowing in the energy midstream

Investing in the energy sector can be complicated and BDCs are steering clear of lending to the sector, but targeting the midstream could be the key to making oil and gas work for private debt funds.

The need for speed leads firms to throw more resources behind due diligence

With huge amounts of capital competing for high quality assets, due diligence processes are under pressure.

The legal advice that’s not wanted

Although unfavourable deal terms have been in the spotlight, they are not the only cause for resentment among lenders in today’s market.
Man large shadow spotlight

EBITDA on steroids

The EBITDA addback is one of the most worrying aspects of loan documentation. Market professionals detail how prevalent and potentially damaging it has become.
China

Foreign investors are seeing increasing opportunities in China’s credit crisis

Following a period of loose credit in China, international investors are looking to snap up the wealth NPLs it has generated.
pdi
pdi

Copyright PEI Media

Not for publication, email or dissemination