Fund Managers

M&G Investment has provided project financing to St. Modwen Properties to back a new £450m student accommodation development on behalf of Swansea University.

Legg Mason’s global fixed income subsidiary Western Asset Management is set to launch a UK-domiciled infrastructure debt fund that will invest in publicly-traded securities worldwide. 

 As the second round of funding by the UK government’s Business Finance Partnership approaches, some managers have criticised the decision to fund established, rather than fledgling managers, in the first round. 

The JPMorgan-owned manager doubled the size of its $2.5bn predecessor fund, setting a new benchmark for post-crisis mezzanine fundraising.

 Martin De Ville will join bond broker Cantor Fitzgerald as part of its private debt structuring team to execute leveraged private lending in Europe.

 Alcentra, led by David Forbes-Nixon, is building its presence in the US and the UK with two senior hires: ex-Highland Capital managing partner Jack Yang, and former European head at Cantor Fitzgerald Mike Johnson. 

The Bank of England has warned that over-leveraged companies acquired by private equity during the buyout boom of the early 2000s could spark a new financial crisis in the event of widespread defaults.  

IPF Partners, a fledgling private debt manager, is nearing a first close for its maiden investment vehicle as it looks to raise between €150m and €200m to invest in the debt of European healthcare companies. 

German lender Commerzbank is reportedly being courted by a host of private equity groups interested in acquiring a portfolio of real estate loans formerly held by its Eurohypo subsidiary worth £5bn (€5.7bn; $7.4bn).