Volatility could be direct lenders’ friend

Fierce competition for deals has led to speculation about the bursting of the direct lending bubble. But troubles in the broadly syndicated market may come to the rescue.

3 takeaways on the private debt secondaries market

Houlihan Lokey’s Jeff Hammer says that while there is a broad base of potential actors, that loans are repaid over a given period or refinanced likely constrains the size of the market.

2018 in review: The dash for deployment

With so much capital raised in 2017, deploying it wisely and avoiding bad terms has become a major focus for managers in the past year.

What exit? GPs investing in other GPs are in it for the long haul

Private equity firms taking non-control stakes in other such firms is booming, but the off-ramps for such deals remain mostly theoretical.

BC Partners to take over KCAP management contract

The buyer will contribute its incentive fees until the net investment income hits $0.40 per share.

Will 2019 be the year the dominos fall?

Don’t expect a quiet year ahead. We look at five ways in which the private debt market may be shaped in the next 12 months.

FSIC and CCT shareholders back BDCs’ merger

While the merger of the publicly traded vehicles is set to be completed, the combination of their non-traded BDCs has been put on hold amid low stock-trading prices.

European loan issuance hits lowest level since 2016 – report

Loan volumes fell in Q3 as leveraged buyouts dominated finance demands and credit standards eased.

Distress could help funds take another slice of the banking pie

The next downturn could bring opportunities for the private debt universe to expand, as the traditional finance providers offload portfolios.

Alternative lenders present in over half of European mid-market deals – report

Private debt funds are increasing their presence in European LBOs and refinancings, particularly in the UK and Germany.

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