Deep Dive

Barclays: Creditor-on-creditor violence to continue

Barclays’ liability management exercise report depicts a normalisation of the practice, and a scramble for creditors to protect themselves.

The insurer’s guide to infra investing

Alexander Gramann, Munich Re’s senior investment manager for renewables and infra, spots opportunity in the US and sub-IG debt.

All or nothing: The flexible Future Fund

The Australian sovereign wealth fund’s total portfolio approach means it does not have set allocations, and every investment class – including private debt – is in competition for dollars at any given time. PDI discusses this approach and its implications with James Waldron and Shikha Gupta.

The death of the private funds rule – and the aftermath (continued)

Protections weakened, LPs shoulder the burden; exempt managers not ‘out of the woods’.

Deal structuring is key to Africa’s brighter future

Trade finance bank Afreximbank is attempting to drum up support for infrastructure projects across the continent from private debt firms and institutional investors. PDI met director Kofi Asumadu to find out more about its work across 52 African countries.

Recallable NAV loans: The ‘zero-sum game’ leaving LPs in a bind

A stipulation that capital distributed to LPs via NAV facilities can be recalled is creating headaches for some investors.

Tapping into the ‘powerhouse’ non-sponsored middle market

Centerbridge and Wells Fargo will form a BDC to target the more than 95% of the market not backed by private equity.