November 2018 issue

    Month: November
    Year: 2018

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    A bit of stress would do no harm

    If the cycle is about to turn, it would not come as an unwelcome development to some investors.

    Don’t get left behind on technology

    Direct lending funds need to take a step into the modern world to deliver more value to their investors, Matthias Kirchgaessner of Plexus Investments tells John Bakie

    Pemberton on strength in diversity

    Symon Drake-Brockman explains that, in the late stages of the credit cycle, a successful strategy in a maturing market may depend on an ability to invest across markets.

    Breaking up is hard to do

    A hard Brexit and its effects on trade give US LPs one more headache to worry about as their own country picks a trade fight with China. By Andrew Hedlund

    Brown Brothers Harriman on the benefits of breaking formation

    As the European market matures, managers must think outside the box to expand their horizons. Andrew Ritchie explains the risks and rewards of diversifying.

    From Goldman and Drexel to the PDI 50

    The investment banks – one still arguably the pinnacle of Wall Street and the other a casualty of, among other factors, run-ins with federal regulators – produced some of the biggest names in alternative lending. Andrew Hedlund reports

    Asian firms’ family matters

    Mezzanine financing is being considered by family businesses as they seek acquisitions and wealth transitions, writes Adalla Kim

    Europe roundtable: ‘You’re left wondering what’s around the corner’

    Has the European private debt market had it too good for too long? There are no signs of panic, but nerves are jangling as loose structuring, leverage, competition and political volatility compete to be the asset class’s chief bogeyman.

    DOWNLOAD: European private debt – what’s around the corner?

    Seven slides show the state of play for the asset class on the continent, and what curve balls might loom.

    PDI New York Forum 2018: The 10 big talking points

    From never-ending cycle talk to the lure of special situations, we report back to you the major conversational topics doing the rounds on day one.

    Lending deals change gears

    Data from the Deloitte Alternative Lender Deal Tracker shows activity has dropped slightly, but private debt continues to gain traction in Europe.

    The GFC: A dramatic reshape of the lending landscape

    Life would never be the same, and lenders were among those trying to make sense of it all. Andrew Hedlund reflects on several key ways in which the private debt asset class was moulded by a crisis.

    Meet the 30 most influential people in private debt

    Which individuals have changed the face of the private debt asset class? PDI presents its inaugural top 30.

    Germany’s private debt market has reached a ‘serious size’

    Private debt funds went from just 16% of fundraising in the German LBO market in 2016 to 34% in 2017. Some predict even more growth to come.

    Move over, mezzanine

    Unitranche finance has become one of the most popular private debt strategies in recent years, but has it displaced its rivals? John Bakie investigates

    Soft landing after a hard Brexit?

    As Britain’s departure from the EU draws near, the prospect of a no-deal scenario looms. Can its impact on the private debt market be contained? Edward Targett reports Soft landing after a hard Brexit?

    5 things you need to know about European debt

    The asset class is at an important junction in its history, both in terms of its growth trajectory and the external pressures it faces. Here are the top themes.