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Fund managers in the mezzanine space are experiencing some sharply contrasting fortunes.
More than half of all vehicles in the region closed since 2010 follow the strategy.
Q1 2016 closed-ended mezzanine and subordinated debt funds raised less than 30 percent of the Q1 2015 total.
The Chicago-based firm is aiming for the same target as its previous fund and has so far won a commitment from the Minnesota State Investment Board.  

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