Investors

LaSalle closes third mezzanine fund on £804m

LaSalle Investment Management has closed its third mezzanine and whole loan fund on £804 million (€903 million).

POBA to add to US lending strategy

The Korean pension fund has put out an RFP to hire private debt managers for US direct lending mandates.

Can you rely on a termsheet?

Lenders may be left compromised when a deal termsheet does not make clear how much control sponsors have over the transfer of payments. Experienced lawyer Stephen Mostyn-Williams of Debt Explained highlights one alarming example.

Alaska PFC: Ahead of the curve

Alaska Permanent Fund Corporation - a state-run investment vehicle that distributes dividends to all eligible residents - started investing in private credit before the financial crisis, and sees no reason to pull back now.

Mondoux: Complacency ‘not dissimilar’ to 2006/07

Josée Mondoux of Canada’s CMPA is worried by aspects of manager behavior today but takes comfort from debt managers’ more conservative approach.

Commingled fund, SMAs allow LBC to hit hard-cap on Fund IV

The firm has set a management fee of 1.5% on invested capital along with a 20% carried interest fee over a 7% hurdle rate.

The PDI 50: 6-10

The biggest firms: Numbers six to 10 in the PDI 50 ranking.

The PDI 50 top five: Looking down on the rest

With private debt fundraising set for a record-breaking year, the time couldn't be better to expand the PDI 30 to 50.

Junior capital is taking US market share from mezz

As more and more capital pours into global junior capital funds, unitranche and senior lenders are snatching up what might have been mezz loans.

Elephants stumble in European mezzanine market

The turning of the cycle will put Europe’s mezzanine lenders to the test, which means GPs are choosing their target companies carefully, writes David Turner.