Getting a fairness or valuation opinion on a private equity GP-led secondaries transaction is a straightforward, albeit costly task. In credit secondaries, however, the rule change creates a cumbersome burden.
3 min read · 21 September 2023
Private credit has received plenty of acclaim as a well-positioned asset class for the times, but investors are not entirely void of concerns.
2 min read · 14 September 2023
The dissenters in the 3-2 vote, Uyeda and Peirce, seemed to welcome a court challenge. But for several days that prospect hung in the air.
2 min read · 07 September 2023
To some, the rules are simply a means of ensuring private fund managers apply the same principles as other asset managers. To others, they demand a strong defensive response.
3 min read · 31 August 2023
Lender-on-lender violence is being seen with increasing frequency as private debt firms show their willingness to be aggressive in stressed scenarios.
2 min read · 24 August 2023
Generally behind the curve on ESG, attempts to harmonise disclosure in private debt are beginning to gain momentum.
2 min read · 17 August 2023
A second survey has backed up an existing one in identifying a declining private debt default rate. The omens for portfolio company performance are promising.
2 min read · 10 August 2023
Affirmation of ‘uptier rights’ of non-PTL creditors signals a likely continuation of creditor-on-creditor violence.
3 min read · 03 August 2023
Private debt fund managers are struggling to raise capital, but investors have reason to gain confidence in the prospects of the asset class.
2 min read · 27 July 2023
A growing market for alternative lending is developing among sports leagues with multi-billion dollar financings attracting the eyes of credit managers
2 min read · 20 July 2023
