fundraising

The vehicle has held a first close on $200m and is now in the deployment phase.

Increasingly borrower-friendly terms are a result of high liquidity and competition among private debt funds. But are players taking on risker propositions? Proskauer partners Alex Griffith and Faisal Ramzan share insight.

Two European LPs have already defaulted on capital calls, and more are rumored, as LPs get hit with a one-two punch of large, often early capital calls and drying up distributions.

Firms will have to change their approach to fundraising and portfolio company monitoring until the coronavirus outbreak recedes.

Nairobi-based EquiLife Group is seeking $20m for a permanent capital vehicle aimed to help businesses affected by the crisis.

The closing comes as secondary prices fall to levels last seen in the  global financial crisis.

The firm plans to introduce its first real estate debt offering after rebranding its property business this month.

In recent years, fundraising has piled into the larger private debt funds – creating an elite of capital gathering powerhouses. Catalin Voloseniuc of SEE Credit Partners says its time to consider other options.

The fund, which had a target of $1bn, attracted investors who were all new to the firm's debt platform.

Heavily invested legacy vintages might suffer more than funds in market, with the jury still out on whether this crisis will be sharp and short like the GFC, or sharp and longer-lasting running through various cycles.