ICG related stories
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Bullish on troubleWL Ross & Co.'s head and namesakeWilbur, Ross, is poised to strike each time an industry enters a downturn. Ken MacFadyen sat down with him to hear what lies on the horizon for one of the best-known trouble-seekers in the investment industry.
- DIFFERENT BUT POPULAR
The creator of a European online lending business has raised €300m for a debut private equity fund.
- WILLIAM ALLEN FOUNDING PARTNER BLENHEIM ADVISORS
When the banks underwriting Cerberus' $7.4 billion ( e5.4 billion) acquisition of Chrysler and Kohlberg Kravis Roberts' £11.1 billion ( e16.3 billion; $22.3 billion) acquisition of Alliance Boots found themselves unable to syndicate several billion dollars of debt, it was a sure sign that sub-prime mortgage turmoil had begun to impact the leveraged buyout market substantially. At the end of August, analysts reported that banks were still waiting to offload $330 billion of debt from agreed deals, and some predicted there would be no more mega-buyouts struck this year, and possibly well into 2008. PEI talked with William Allen, founder of London-based leveraged debt advisor Blenheim Advisors, to get his views on the implications of the credit crunch.
- ICG hires management head
Intermediate Capital Group, the UK debt investor and fund manager, has recruited for its CDO and institutional mandate team. It is looking to widen its trading expertise with a recruit to its leveraged loans team.
- European Capital looks forward to a golden age
European Capital has expanded its German debt team as it looks to benefit from reduced competition in the credit markets following the exit of CLOs and hedge funds.
- How do you shift £9bn?
As the lead underwriters on the Alliance Boots deal - JP Morgan, Deutsche Bank and Unicredit - prepared to reveal their syndication plans for the deal’s debt, Toby Lewis examined the potential options available to them.
- ICG invests £165m in second quarter
Intermediate Capital Group has invested £165 million in 12 deals in the last quarter, saying it expects a record month in the mezzanine markets as cheap senior debt dries up.
- Credit problems may be good for mezz market
Swiss asset manager Partners Group believes that mezzanine funds may benefit from the recent jitters in the credit markets.
- ICG: Bumper results may not last
The bumper results of three listed private equity vehicles suggest that the public markets remain positive about the asset class, although ICG chairman John Manser believes the coming year will see a downturn in performance.
- Intermediate Capital Group appoints portfolio manager
Booming appetite among investors for exposure to credit instruments is fuelling growth at Intermediate Capital Group, one of the largest CDO fund managers. It recruiting to cope with demand.