Fund Managers

Babson Capital Europe has already started lending to distressed European businesses, as it works to finalise 20-30 commitments ahead of a projected September close. 

ECM Asset Management has launched European corporate-focused Luxembourg-domiciled UCITs absolute return fund attempts to capture rise and falls in the deleveraging credit cycle. 

The US collateralised loan obligation market is carrying over its 2012 momentum into 2013, with two recent funds from ING and Jeremy Ghose’s 3iDM.

Distressed debt investment specialist Oaktree Capital Management is set to launch a European-focused direct lending fund to capitalise on dislocation in the continent’s credit markets.

The ratings agency is warning Allianz Capital Partners, the Canada Pension Plan Investment Board and the Abu Dhabi Investment Authority that forward-looking tariff cuts might lead to a downgrade of part of the consortium’s outstanding debt commitments.

The former head of 3i’s buyout division and the founder of 3i Debt Management have secured FSA approval this month for the launch of a private debt manager, dubbed Spire Partners.

The Robert Smith-led firm will target $600m for its first debt fund and likely $500m for its second small-cap vehicle as it comes off a year in which it returned $2bn to LPs.

CPPIB Credit Investments' in the final quarter of 2012 included a C$400 million high-yield loan to CVC-backed Formula One Group

The Paris-based asset manager has corralled institutional capital for a senior real estate lending vehicle having set up a platform last year.

While distressed real estate continues to create some of the firm’s best investment opportunities, Europe has been a lesser source of deal flow than anticipated.