News & Analysis

Moody’s: Mid-market credit quality erosion is hidden in plain sight

Rising leverage, declining liquidity and a weakening of free cashflows is putting pressure on mid-market issuers.

Standard Life merger with Aegon UK is ‘good news for bigger GPs’

The deal, which will form a life and pensions giant with a £480bn-odd asset portfolio, reflects the trend for consolidation among both LPs and managers.

Adams Street calls for greater transparency from BDCs and interval funds

The manager outlines six key metrics to replace simple reassurance, saying they will stem the tide of investor redemptions.

Loan Note: Nothing wrong with cautious deployment, Korea LPs urge; mis-selling cited as redemption root cause

LPs at Japan Korea Week make the case for slow deployment. Also, misleading marketing cited as main reason for evergreen redemptions; and consumer and software defy the doubters in Q1. Here’s today’s brief for our valued subscribers only.

BCI: ‘Don’t buy the beta’

LPs should prioritise credit selection rather than splitting their portfolios across ’20 or 30’ GPs, says Daniel Garant, global head of capital markets and credit investments.

New France head for ICG strategy

Mathieu Paillat, a former PAI Partners executive, will join as part of the European Corporate strategy, which focuses on flexible capital solutions.

Comvest Partners raises $2.63bn for flagship credit strategy

The closing of Comvest Credit Partners VII exceeded its target fundraise of $2.5bn

Loan Note: AI disruption spotlight on private equity; Doumar on why his job is to kill ‘cockroaches’

Why AI disruption may be more of a private equity than private credit problem. Also, Park Square’s Doumar on killing cockroaches; and Sycamore Tree launches into secondaries. Here’s today’s brief for our valued subscribers only.