News & Analysis

Medallia taken over by Blackstone-led creditor group

The creditor trio will inject $150m to reduce Medallia debt, in addition to $500m from the company to invest in AI efforts.

Light at the end of the tunnel for M&A

The new deal market has been hampered by negative internal and external factors, but there are signs they may be easing.

Loan Note: Blackstone platform to support ABL; PIK under increased scrutiny in US

Blackstone launches SablePointe in support of ABL. Plus: US regulators focus on payment-in-kind; and a junior debt tie-up in Japan. Here’s today’s brief for our valued subscribers only.

Australian regulator warns private debt valuations ‘lagging economic reality’

ASIC said that updating valuations for 30 June should be an ‘immediate point of action’ for GPs and funds.

Strong slate of mega-funds pushes Q2 fundraising upwards

An early glimpse of Q2 fundraising shows that a number of large funds are set to contribute to another strong quarter.

New CalPERS private debt head suggests program is well-positioned for stressed climate

Staff at the $620bn California pension expect the new and increasingly diversified program to perform well amid software exposure concerns and redemption pressure headlines.

Hunter Point hits $4.3bn close for NAV loan and pref equity debut

The firm’s strategies fall under a shared platform, and each beat their targets.

EQT’s massive sustainability-linked credit facility leans into materiality

The $4.4bn subscription credit facility reflects a shift in the way sustainability is integrated into private markets investment processes.

Trinity Church, one of New York’s biggest landowners, is bullish on RE credit

The endowment is also optimistic about resilient office assets and a market rebound amid renewed leasing momentum.

Loan Note: Senior debt dry powder shrinks; private credit commitments lower

Rapid senior debt deployment reduces strategy’s dry powder. Also, private credit commitments shrinking at the expense of private equity; and a senior hire at Barings. Here’s today’s brief for our valued subscribers only.