News & Analysis

ILPA’s Prunier says ‘vast majority’ of LPs don’t support using NAV loans

ILPA representative cites transparency and uses as issues at the Fund Finance Association’s Global Symposium in Miami. But the growing market for NAV loans has its staunch defenders, who often point to the fact that most of the facilities are used for value-additive, late-stage acquisitions.

Regulators keep private debt on the straight and narrow

AIFMD II lays down some practical challenges for private debt fund managers. There may be a lot more of this type of intervention in future.

Loan Note: The size of the challenge facing European real estate; Goldman, Tikehau form partnerships

AEW puts numbers to the difficulties facing European real estate. Plus: Goldman and Tikehau expand their APAC operations; and private debt grows into a funding gap in China. Here’s today’s brief for our valued subscribers only.

Ares Management’s Graves to leave firm, as special opps strategy joins private credit

Graves, who is based in Los Angeles, joined Ares in 2017.

Pollack leaves Blackstone for top post at Starwood Capital

Jonathan Pollack, who will officially come on board at Starwood in 2025, will join the firm at a time when alternative lenders are expected to be able to significantly increase their market share.

S&P report: Banks are unloading risks to credit funds

Basel accords are incentivising banks to issue synthetic risk transfer securities.

Mid-market borrowers pass stress test amid higher rates, report says

KBRA says its assessment portfolio experienced ‘only a slight deterioration’ in interest rate coverage.

Loan Note: Searches for private debt GPs soar; family offices gravitating to alternatives

Searches for private debt managers higher than for alternative asset peers. Plus: family offices gearing up for more alternatives allocations; and M&A momentum continues into 2024. Here’s today’s brief for our valued subscribers only.