Loan Note

Encouraging data for US direct lending; refinancings drive a revived broadly syndicated loan market in Europe; and LPs not as negative as you might think on NAV loans.

Insurance appetite for private debt revealed by survey; Arrow makes acquisition in Germany to deepen its presence in the market; and PGIM launches its first ELTIF vehicle.

‘Grace period’ forms part of new net-zero guidelines for private debt; Alcentra tracks some key implications of the broadly syndicated loan market’s revival; and Antares’ latest hires reflect emphasis on the wealth channel.

European unitranche activity edges down but hopes are high; S&P expects a modest decline in the default rate; and Dawson steps in to provide liquidity for Churchill.

Artificial intelligence tipped to be the saviour of ESG investing; KKR thinks insurers’ shift to alternative assets is permanent; and why borrowers have gone from public market to private (and back again).

Fitch sees problems ahead for debt facilities dependent on PE exits; Permira notes a return to mid-market deals; and Carlyle teams up with Sungage in the solar sector.

Equities back in fashion among those searching for managers; AlbaCore expects private debt resilience amid syndicated fightback; and Arrow extends its footprint in Southern Europe.

A ‘muted’ default situation is discovered by ratings agency KBRA; Singapore and Hong Kong investors keen to allocate to private debt; and the deadline is approaching for Women of Influence nominations.

Direct lenders are seeing more competition from the broadly syndicated loan market; debt funds have been seeing strong performance; and Brookfield forms partnership with Castlelake.

Cliffwater highlights outperformance of private markets versus public; Arizona hands significant risk transfer mandate to AXA IM Alts; and Blackstone makes double hire.