July / August 2014 Issue

    Diversifying and expanding

    Infrastructure debt offers compelling advantages to investors seeking long-term exposure, diversification, and attractive risk-adjusted returns, writes Hastings investment director Nick Cleary.

    The Infrastructure Debt Special

    Welcome to Private Debt Investor's Infrastructure Debt Special, sponsored by Hastings.

    Ready for take-off

    Infrastructure debt is proving to be a perfect fit for Australian investors looking to match liabilities with long-term investment returns.

    Money and conflict

    Investment professionals that manage a hedge fund of funds on behalf of North Carolina have made several significant contributions to State Treasurer Janet Cowell’s re-election campaign. Does this create a conflict of interest?

    Negative territory

    The ECB president’s attempts to spark increased bank lending to European SMEs last month could have given private debt funds serious cause for concern. Here’s why they should breathe easily

    Deloitte: European mid-market undergoes rapid change

    A report from Deloitte shows alternative lender deal flow increased by 89 percent in Q1 2014 compared to Q1 2013.

    Country focus: United Kingdom

    PDI gathered four experts to discuss the UK’s role in the development of private debt in the wider European region, and found a genuine mix of optimism and concern about the key role debt is playing in the economic recovery. Oliver Smiddy reports.

    Capital talk: Timing the market

    As a distressed firm, Chicago-based Victory Park Capital timed its launch in 2007 to perfection. But with the economy improving and the number of distressed opportunities falling, how will the firm map its future? Sam Sutton sat down with VPC to find out.

    The return of the triple track process

    Sponsors are increasingly looking to explore exit options in a staggered, three-part manner. And private debt funds have an important part to play in the second stage, refinancing, according to EY’s Bridget Walsh and Greg Moreton.

    Aggressive borrowers

    European borrowers are taking an aggressive stance against investment funds targeting bank debt on the secondary market, Schulte Roth & Zabel’s David Karp tells Sam Sutton.

    Currency hedging: The benefits of a tactical approach

    A considered approach to currency hedging can help managers boost returns, writes Kevin Lester, co-founder of Risk Management Validus.

    Termsheet: Last orders

    As you read this, the curtain might just have come down on a seemingly interminable restructuring saga. Anna Devine examines why the fourth proposal to restructure UK pub company Punch Taverns is poised to succeed where previous efforts have failed.