December / January 2015 Issue

    Month: December
    Year: 2015

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    Argentarius: Beyond the banks

    The European financial system is failing SMEs as the bank lending market continues to retrench. Fortunately, there are other options that open this market to investors and with the right structuring, securitisation and other instruments that can fill the gap, writes Andreas Wölfl

    ESO Capital: Consistency amid changing markets

    Private debt in Europe represents a strong investment opportunity. But with loosening structures and increasing leverage, investors must seek disciplined managers, writes ESO Capital’s Olya Klueppel

    Keynote interview: LCM Partners

    LCM Partner’s Paul Burdell has seen and done a lot over his 30-something years in financial markets, not limited to pioneering the secondary market for bad consumer debt in the UK

    Termsheet: Quiksilver

    Once fashionable clothing brand Quiksilver has restructured its US business with the help of a debt-for- equity swap by Oaktree. Anastasia Donde reports

    European special intro

    Our European special brings you the thoughts and comments from a range of market players. And as the cycle edges towards its peak, everyone is focusing on keep investors happy, finds Rachel McGovern

    The Last Word: Investec

    Investec’s London corporate and acquisition finance team has lent £1.4bn to private equity clients and their portfolio companies in the last year.Head of the division, Callum Bell, talks to Rachel McGovern about the European mid-market and his firm’s plans

    Filling a bank-shaped hole

    Filling a bank-shaped hole Irwin 2015-12-01 Speizer as private direct lending grows across the world, investors – particularly institutional investors – are being drawn to its promise of attractive returns with features that can be like a cross between fixed income and private equity. Ho

    PDI Capital Structure Forum

    From fee structures to the potential gap between what investors want and managers can provide, PDI’s third annual European conference heard as much discussion of challenges as opportunity. Anna Devine reports

    The battle for TICC

    The protracted fight over TICC Capital Corp is ugly, but it may benefit the BDC industry if it airs some festering problems, writes Anastasia Donde

    Capital Talk: BlueBay Asset Management

    High on their large and rapid fundraising, BlueBay’s private debt team tell Rachel McGovern that there’s never been a better time to be in European direct lending

    European Roundtable: Cracking the investor code

    Not all debt investments are created equal. Four lenders and a trustee spanning the many realms of private debt in Europe today joined Anna Devine and Rachel McGovern to discuss the tricky yet still promising landscape before them