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European and Asian investors face costly hidden fees for US debt funds – report

Fees for offshore vehicles and a range of hidden costs are causing a returns disparity for non-US investors in US funds.

Macau to suspend its $6.7bn sized fund launch bill

The proposal to launch an investment fund would have been discussed in today’s Legislative Assembly session, but is no longer on the agenda.

Carlyle will convert to C-corp, offers single class shares

In making the switch, the firm follows in the footsteps of its listed peers KKR, Blackstone and Apollo Global Management.

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.

Why court orders are driving deals for debt managers in India

Asset sellers would prefer private deals before undergoing resolutions. PDI explains the reasons.
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.

Forget covenant-lite: The devil is in the document’s details

Steven Miller and Jessica Reiss of Fitch Solutions examine the subtle changes to credit agreements that could pose a danger when today’s deals are affected by the next downturn.

Revised AIFMD to ease restrictions on pre-marketing in the EU

New directive will liberalise regulations for managers during the earliest stages of fundraising.
Sabrina Fox ELFA

ELFA and AFME call time on affiliation

After a six-month trial the industry bodies have decided to part ways.

How the UK can still exert influence in Europe

The European Parliament has approved changes to the pre-marketing of alternatives funds that should make the process easier across the continent.
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