junior debt

The strategic opportunities vehicle is targeting investments striving for consistent cash yield.

Some subordinated debt investors could face difficult scenarios as the pandemic wears on.

The $500m fund has started deploying capital, focusing on corporate and real estate investments across selected countries in Asia-Pacific.

Tom Sumpster’s departure comes after LGIM’s attempts to expand its infra strategy beyond senior debt hit roadblocks.

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

As BDCs dive down into the capital structure and into sectors facing tough times, recovery rates could be significantly lower than during previous downturns. Andrew Hedlund investigates

The firm’s publicly traded and private BDCs will get new co-presidents as the current one leaves but will remain president of the BDCs’ advisor.

The Tunis and London-based firm is aiming for a first close in Q1 2020 as it targets an SME funding gap in the region.

In the US, unitranche loans have given the senior-junior debt capital structure a run for its money in recent years, but mezzanine lenders are still finding deals.

Unitranche has dominated the continent’s private debt markets in recent years. But, as David Turner reports, mezzanine’s advocates say that it offers better prospects.