October 2013 Issue

    The Last Word

    PDI asks Adamas Asset Management's Conor MacNamara about his firm's fundraising and how he perceives the Asian market at present. 

    A roller-coaster ride

    Syntaxis Capital Partner Przemek Szczepanski assesses the mezzanine opportunity in Central and Eastern Europe, and argues that it’s a market now made for local, specialist players.

    Flexibility and Scale

    Through a process of constant evolution, ICG has built itself into a credit specialist of considerable scale over the past 25 years. Mezzanine remains a core component of ICG’s strategy, but the market has changed markedly since 2008. European head of mezzanine Benoit Durteste talks to Private Debt Investor about the challenges, and opportunities, for mezz in Europe today.

    Real estate mezzanine: a sustainable opportunity

    Pembrook Capital Management founder Stuart Boesky explains to Private Debt Investor why mezzanine debt is fulfilling a valuable role in financing commercial real estate in the US.

    Debt funds spawn a new breed of risk manager

    Funds are adapting more granular approaches to risk management, writes David Rothnie, whilst a better understanding of risk is also helping to shape the way private debt firms invest.

    The levels of risk

    Private Debt Investor sat down with Validus Risk Management co-founders Kevin Lester and Francois Scheepers, as well as board member Professor Florin Vasvari, to talk about the firm’s holistic approach to risk management. 

    The Comeback

    Two years ago, Fred Eckert was bankrupt and in a coma. His alternative investment empire GSC Group, once with $28bn of assets to its name, lay in ruins. Now he’s back and looking to raise $100 million for a new venture. In a series of candid conversations this summer, Eckert and his co-founder Russ Gerson explain the plan to Sam Sutton. 

    Caesars’ challenge

    Caesars Entertainment, with more than $23bn of long-term debt on its balance sheet, recently announced refinancing plans for $4.4bn of CMBS facilities. Sam Sutton examines the company’s current condition.

    Reaching the finish line

    Two fundraising closes last month demonstrated the importance of track record and momentum when raising capital. Oliver Smiddy reports. 

    India: a tale of woe?

    Private debt investment in India remains challenging given the Rupee, but there is opportunity if you know where to look, writes PDI’s Asian columnist

    The PDI Launch Party

    The PDI Launch Party Oliver 2013-10-02 Smiddy Almost 200 of the private debt industry’s great and good gathered in London last month to celebrate the official launch of this publication. Kindly hosted by SJ Berwin at their London offices, the event began with a panel discussion before a cha

    An emerging opportunity

    Residential mortgages and related securities offer attractive risk-adjusted returns, but investing in them is a tricky business, warns Alex Maddox of advisory group Acenden. 

    TWO MINUTE MONTH

    TWO MINUTE MONTH 2013-10-02 Oaktree agrees to acquire Furniture Brands through bankruptcy Oaktree Capital Management recently came to an agreement to acquire the assets of St. Louis, Missouri-based Furniture Brands International for $166 million through Chapter 11 bankruptcy. Furn