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Goodbye LIBOR, hello uncertainty

LIBOR has underpinned financial products for decades. But it could be phased out in less than three years, with huge implications for private debt lenders.
Commodity shipping trade

Why commodity trade finance needs private lenders

Structural changes in the trade finance industry present opportunities for lenders, argues Mikael Bonalumi of Audentia Capital Management.

The need to nurture permanent capital in Europe

Reasons for longer-term vehicles in private debt are growing, with one being the requirement to support businesses traditionally backed by banks.
3D map of Europe

Funding Circle launches European SME fund as revenue forecasts slashed

Peer-to-peer lender funding circle has announced a second closed-ended direct lending fund, this time focused on Germany and the Netherlands, as it slashes its revenue growth forecasts.

LGT closes second debt fund at €1.35bn

LGT beat its €800m target and more than doubled the number of investors from its previous fund.
Legal books

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.

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.
Difficult road

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.
Daniel Zwirn

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.
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