The company, which was sold by LBO France, will see its onerous debt burden reduced by almost half as part of the deal.
.jpg "Distressed investors turn to Europe")
Higher prices in the US have led some investors to shift their gaze to Europe.
The partnership will be seeded with ¥20bn of initial capital from the pair, as well as soliciting investment from institutional investors.
.jpg "Carlyle, Madison Dearborn portfolio companies to merge")
The merger should improve the Carlyle Group and Madison Dearborn portfolio companies’ debt and leverage levels, according to a statement.
Torchlight continues to remain active, committing $22m across two deals through Debt Opportunity Fund IV.
The Gimv / Belfius joint venture will complement its fund manager activities with the financing of infrastructure projects from its balance sheet.
.jpg "AXA raises ¥26bn Japan RE debt vehicle")
The real estate-focused asset management arm of French insurer AXA has brought its Japanese debt program to ¥40 billion with the launch of a second vehicle.
There are plenty of warning signs, from frothy high yield markets to the proliferation of cov-lite structures. Yet these mask a new recognition that banks aren’t the most appropriate end holders of risk.
The Patrick Halter-led real estate unit's latest fund will target investments in subordinated debt, bridge loans and higher loan-to-value senior loans.
Private debt lenders face mismatched risk-return profiles and continuing difficulties when enforcing contracts.