May 2016 Issue

    Month: May
    Year: 2016

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    CLOs: At the crossroads

    With the US risk retention deadline looming, three clear methods of compliance are emerging.

    Showing the frontier spirit in emerging markets

    It’s not only in established markets that private debt has seen rapid growth in recent years. Vicky Meek looks at how the asset class Private debt is also developing as an asset class in emerging economies.

    Marriages and breakups in the M and A market

    Mergers, acquisitions, spin-outs and sell-offs have been on the rise among private debt firms, with more set to follow. But unfavourable market conditions may lead to failures and deals stuck in limbo.

    Filling the gap with Asian private debt

    The private debt market in Asia is growing in popularity as dynamics shift in its favour, but investors are still largely operating in the dark.

    Guest Comment: SulmeyerKupetz

    Investment firms making bridge loans to portfolio companies in distress need to try to ensure they are not subsequently challenged in unforeseen ways.

    Keynote Interview: MV Credit

    When MezzVest became MV Credit in November last year, it joined the latest evolution in the European private debt markets, according to its managing partners. Now the firm is carving out a new strategy.

    The Last Word: Edmond de Rothschild Asset Management

    Jean-Francis Dusch, chief investment officer of Edmond de Rothschild Asset Management’s BRIDGE platform, talks about the challenges for alternative lenders and the launch of the firm’s second BRIDGE platform.

    Unitranche: Our flexible friends

     Unitranche offers options to borrowers, but does it offer sensible terms?

    Unitranche: Proskauer

    The ‘agreement among lenders’ used in unitranche financing is relatively untested. However, there is one example of a court case that provides comfort for those concerned about enforceability. Peter J. Antoszyk and Stephen A. Boyko of Proskauer explain

    Unitranche: NXT Capital

    Unitranche has established itself as a viable product but some careful questions about risk and reward need to be asked in order to make informed investment decisions. Kelli O’Connell and Joseph Lazewski of NXT Capital provide some useful direction.

    Unitranche: Kartesia

    The breadth of opportunities offered by the lower end of the market is key to unitranche’s sustainable success.