June 2016 Issue

    RE Debt special: Forging new paths

    UK real estate debt funds are increasingly finding opportunities outside of London, but in an uncertain economic environment there are challenges ahead. David Brooke reports.

    Taking a plunge in Pacific Exploration and Production

    A debt restructuring at a Canadian oil and gas company may contain clues for those seeking opportunity from the energy sector’s woes.

    Capital Talk: Omni Partners are going long

    It was all about the next trade for Steve Clark, until he spotted a long-term opportunity to build a business at Omni Partners.

    Are Europe's lawmakers friends or foes?

    The spectre of a European-wide legal framework is haunting the private debt fund market. But what the proposed regulations will look like is far from clear.

    Life beyond the grave for mezzanine

    For a strategy often declared ‘dead’, there are still plenty of mezzanine managers and funds in the market.

    From feast to famine in New Orleans

    The networking frenzy at this year’s ACG InterGrowth saw some delegates boasting about deal volume while others were struggling.

    The wisdom of private debt crowdfunding

    Maturing online platforms are beginning to prove themselves in the debt markets as the SEC lets them tap investors that were formerly off-limits.

    Earnings season: Private debt players' 1st quarter results

    Private debt’s leading players reported mixed results in Q1.

    The beauty and the beast of China's non-performing loans

    Chinese debt offers a huge opportunity for investors – provided they can find the information needed to take advantage.

    The last word: PSP Investments are new kids on the block

    David Scudellari, senior vice-president and principal for PSP Investments' debt and credit investments, talks to PDI about the firm's status as a start-up embedded within a $115 billion pension fund.

    Expert Commentary: KKR on mezzanine financing

    KKR’s European head of private credit explains the expanded role of mezzanine financing in today’s marketplace.

    Sponsorless finance: Less equals more for yield seekers

    Sponsorless transactions can be more lucrative than private equity-backed deals,  but the road to completing them is long and challenging.

    Sponsorless finance: British Business Bank builds bridges

    Traditional banks account for the majority of lending to SMEs in the UK, but Keith Morgan wants to provide a greater choice for the lower and mid-market.

    Sponsorless finance: Deloitte's Floris Hovingh

    Floris Hovingh, who leads professional services firm Deloitte’s coverage of the alternative lender market, gives his thoughts on sponsorless finance.

    Sponsorless finance: Arbour Partners

    A number of steps need to be taken before sponsorless finance can live up to its potential.

    Sponsorless finance: Monroe Capital

    Sponsorless transactions can deliver a big premium, but finding and delivering them is no easy task, according to Ted Koenig of Monroe Capital.

    Sponsorless finance: Patrimonium

    Direct lending funds must play a major role to bolster the negative effects of bank disintermediation, says Daniel Heine of Patrimonium Asset Management.

    Sponsorless finance: Beechbrook Capital

    The pool of private debt capital in the UK may have deepened considerably over the last few years, but much of it remains focused on sponsor-led transactions. As a result, there is an opportunity to provide bespoke financing solutions to high-growth SMEs that are not private equity-backed, according to Beechbrook Capital’s Paul Shea and Jon Herbert.