Critics of the private equity industry often point to its aggressive use of leverage, and there is no shortage of struggling companies to cite as examples of the perils of over-gearing. But if you thought the industry had gone cold-turkey when it comes to gearing, a new report suggests otherwise, at least on one side of the Atlantic. It bodes ill for the future.
3 min read · 11 October 2013
Separate accounts have much appeal to investors, but they also mean more eggs in fewer baskets.
2 min read · 04 October 2013
Why the Los Angeles County Employees Retirement Association has left KKR “on a bench” for a separate account commitment.
3 min read · 27 September 2013
Trust in the interbank lending system must be rebuilt. The question is how.
2 min read · 20 September 2013
One week, two fund closes, and our first ever ranking of private debt fund managers.
3 min read · 06 September 2013
They tell me of a place where covenant-lite terms flowed like the current of a mighty river. Borrower friendly issuance cascaded from on high, washing over an insatiable deal market like a waterfall. Liquidity wasn’t a dream, it was a reality. I believe they called this distant land, “2007”.
3 min read · 30 August 2013
They tell me of a place where covenant-lite terms flowed like the current of a mighty river. Borrower friendly issuance cascaded from on high, washing over an insatiable deal market like a waterfall. Liquidity wasn’t a dream, it was a reality. I believe they called this distant land, “2007”.
3 min read · 30 August 2013
Private Debt Investor rather likes surfing, and must confess, in the interests of full disclosure, to owning a Billabong wetsuit. So it viewed with interest the latest development in the protracted battle for control of the ailing Australian surfwear company.
2 min read · 23 August 2013
The Chinese government is mulling the launch of a new trading platform to allow investors to buy into the country’s substantial pool of state bank-held non-performing loans, according to Reuters. If so, it would be welcome news.
2 min read · 16 August 2013
Benjamin Franklin promised that only two things are certain in this world – death and taxes. For the last five years, some market observers may have thrown “low interest rates” in there as well.
3 min read · 09 August 2013
