Deals

Real estate brokers turn to private credit funds – report

Private lenders have come to dominate real estate lending in the UK, according to research by the London School of Economics.

The illiquidity crisis: Democratised and distressed

Matthias Kirchgaessner examines retail redemption stress, institutional contagion channels and the broader repercussions for the private credit market.

Defence moves to the frontline

A huge increase in government spending, increasingly positive investor sentiment and a shift from the new economy to the old – all reasons why European defence is a lender target.

Liquidity seekers might just need a different vehicle

While there appears to be investor support for greater convergence of public and private debt, fund structuring issues need to be resolved.

JPMorgan fuels fears of wider bank retreat

Private credit funds risk having fewer options for liquidity than before if other banks follow the Wall Street mainstay’s lead.

Germany’s clarified framework for enforcement and recoveries

How the country’s updated auction rules are starting to shape intercreditor dynamics, enforcement strategies and loss-given-default assumptions in deals involving German collateral. By Dagmar Gold of Deutsche Pfandverwertung

The AI route to improved underwriting

Traditional metrics may be usurped by new technology, a report suggests.

Fairfax times the cycle with a bet on a manager intent on scaling its credit business

Kennedy Wilson has steadily built its real estate debt platform alongside its global equity presence ahead of its privatisation by the Canadian insurer.

Eldridge closes on lease facility with ProPetro Energy

ProPetro, doing business as PROPWR, targets 750MW to be delivered by 2028.