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Charting the mezzanine fightback

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.
Europe

Europe’s mezzanine moment

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.
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ICG appoints former KKR director to Frankfurt team

The hire will assist ICG in deploying its latest multi-billion-euro fund across the DACH region.

KKR posts 5% LTM gross returns in alternative credit during Q2

The alternatives giant is in market with its latest direct lending vehicle focused on Europe, where executives said the firm has seen increased investor interest due to negative-yielding debt.
Korea's POBA is seeking a mezzanine debt fund mandate and is targeting a net IRR of more than 10 percent

Korea’s POBA seeks mezzanine debt fund manager

Public Officials Benefit Association is targeting a net IRR of more than 10 percent, with a five percent-plus dividend return, for the mandate.

EMPEA survey: private credit strategies in emerging markets seek mispricing of risk

Organisation finds emerging market strategies to have lower leverage levels and higher targeted returns than those aimed at established jurisdictions.

Oaktree markets fifth mezzanine fund

The credit manager collected $852m for its predecessor vehicle, which began investing in 2014.

ICG hires Carlyle’s European buyout MD to subordinated debt and equity role

Company says Zeina Bain’s appointment will boost its ability to invest in growth companies seeking mezzanine finance.

Building new relationships in China

The country’s embattled developers are turning to the private market to service debt and grow business.

HPS targets $5bn first close for latest mezz fund – exclusive

Mezzanine debt funds were the most popular private credit strategy in 2018, collecting more than $50bn, according to PDI data.
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