News & Analysis

M&G has partnered with the European Investment Bank to provide debt finance to a new children’s hospital project in the UK.

The US-based firm, which is led by co-founders Mark Okada (pictured) and James Dondero, hopes to raise between $750m and $1bn for The Highland Loan Fund. 

Alternative asset manager AXA Private Equity, an active provider of unitranche financing in recent years in tandem with its buyout activities, has finally agreed to spin out from its insurer parent in a deal valuing the firm at €510 million.

The €500 billion of new non-core loans issued during 2012 offset the €600 billion of loans sold or run off over the same period, confirming the European deleveraging process is far from over.

Carlton Group has arranged a £35 million ($53 million: €41 million) loan to help refinance a UK property owned residential developer Dorchester Group.

The president and CEO of the Canadian pension giant argued for the need for long-term thinking when investing in real estate, as well as other alternative assets, in an address to the Canadian Australian Chamber of Commerce.

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.