July/August 2019 issue


    Month: July
    Year: 2019

    Back to Print Editions

    Designated lawyers could leave lenders in the lurch

    Lawyers offer vital protection to debt funds, ensuring their documentation provides funds, and ultimately investors, with covenants and terms they can rely on. But the practice of equity sponsors designating lender counsel could be leaving creditors in the lurch.

    Big is beautiful as the flow of fund closes dries up

    While new fund launches have slowed down significantly, those funds that are in the market are bigger than ever.

    The need for speed leads firms to throw more resources behind due diligence

    With huge amounts of capital competing for high quality assets, due diligence processes are under pressure.

    Cannabis offers budding opportunities for credit lenders in Canada

    Canada's recently legalised Cannabis market could be a major opportunity for debt funds looking to diversify.

    The real me: Thomas Shanklin

    Nationwide Insurance's managing director and head of private debt discusses his love of Pink Floyd and treating yourself as a growth stock.

    Private credit’s role in the next financial crash

    Arena Investors’ Daniel Zwirn believes direct lending, leveraged loans and CLOs could be partly responsible for the next financial crash, whenever it comes.

    Private credit’s green new deal

    ESG hasn't always been private debt's strong point, but many in the industry are working hard to address this.

    Why the wheels have fallen off distressed

    Benign market conditions in recent years have hurt distressed debt performance figures. Should investors ditch the strategy or are the right market conditions just around the corner?

    Investors embrace the Nordics as banks pull back

    Traditional lenders have had the upper hand in the region, but Sweden and Denmark are now seeing direct lenders claim market share.

    Capital is flowing in the energy midstream

    Investing in the energy sector can be complicated and BDCs are steering clear of lending to the sector, but targeting the midstream could be the key to making oil and gas work for private debt funds.

    Why non-sponsored finance is hard to do

    Lending on a non-sponsored basis is growing more slowly than expected but firms are realising a specialist approach might be the key to success.

    Forget covenant-lite: The devil is in the document’s details

    Steven Miller and Jessica Reiss of Fitch Solutions examine the subtle changes to credit agreements that could pose a danger when today’s deals are affected by the next downturn.

    Savvy investors are looking to make a difference

    Private equity firms are meeting increased demand for impact strategies from institutional investors, but are we seeing the same trend in private debt?

    Vantage point: Five reasons diversity can create value in private debt

    Gabriella Kindert on how the experience of setting up a private debt investment team made her an even stronger believer in diversity.

    Revised AIFD to ease restrictions on pre-marketing in the EU

    New directive will liberalise regulations for managers during the earliest stages of fundraising.