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Alcentra BDC emphasises turnaround plan after ‘challenging’ 2017

The New York-based BDC’s stock price hit its lowest levels as the alternative lender said it will focus on, among other things, lowering its statutory leverage levels.

Spare a thought for small business

In many parts of the UK private debt market Brexit negotiations are causing little alarm, but there is scant focus on where the biggest problem lies.

Tennenbaum BDC deploys more than $200m in Q4

The mid-market lender’s largest new investment was in a telecommunications company in which plenty of other BDCs also have a position.

TPG Specialty Lending sits out TCAP strategic review

Separately, TPG extended a large asset-based loan to iHeartCommunications, a facility that would be repaid in full or unimpaired in restructuring proposals for the troubled media company.

The transfer of intellectual horsepower

Many direct lending veterans have switched from the banks to the funds. But are the old heads wise enough to avoid the mistakes of the past?

WATCH: Why borrower optimism should be a cause for concern

James Newsome of Arbour Partners explores the significance of high leverage and covenant erosion in a three-minute video.

Unitranche financing on the rise in Australian real estate

Unitranche structures are in demand as real estate debt managers find their flexibility attractive.

More than two-thirds of European loans are cov-lite

Research shows that, by the end of last year, 69% of leveraged loans in the region were covenant-lite as borrowers strengthened their grip.

A rough 2017 for energy and retail sector leveraged loans

Oil prices have held steady recently after a much-welcomed recovery, but the retail rout will likely continue.

In a cov-lite world, investors should prepare for a correction: report

Even as the economy keeps humming along, limited partners should start preparing for a downturn, at a new report from JPMorgan Asset Management has cautioned. Investors should look to diversify their private credit allocation beyond direct lending and consider special situations strategies, according to the document, authored by Leander Christofides and Brad Demong, co-chief investment […]

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