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The French asset manager is expanding its presence in the region with an external hire who will be based in Singapore.
After suffering the loss of GSO co-founder Bennett Goodman last year, Blackstone’s credit arm has also been hit by the coronavirus.
While the overall outlook for 2020 is negative, there are sharp variations depending on manager strategy.
The firm’s founder and managing partner says recovery rates on what investors thought were secured loans will be very different to historical precedents.
The London-based fund manager’s second fund, focused on asset-backed opportunities, has a final target of €850m with a cap of €1bn.
The outbreak of the virus is the trigger for the pain likely to be suffered by many lenders and investors. But Gregory Racz of MGG Investment Group says the roots of this pain were to be found in poor deal structuring.
Lenders are shifting towards stable assets amid coronavirus-led disruptions.
Amid the current crisis, firms must not take their eye off the ball in areas such as fiduciary obligation, operational risk and regulation. Michael Johnson of Crestbridge explains why.
Arrows
Our latest figures show private debt funds are finding it tough to raise capital, but this was true before the virus struck.
Effective communication during the coronavirus pandemic will be key to safeguarding businesses and preparing for the future, writes Prosek Partners' Josh Clarkson
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