News & Analysis

All that glistens may be gold

There’s no shortage of Cassandras sounding the alarm over what some fear is the reckless printing of money by the Federal Reserve and other major central banks to try to shore up their economies in the face of the global pandemic, even as balance sheets and government debts continue to grow exponentially, writes Robin Blumenthal.

Covid-19 puts SMEs on life support

SMEs are struggling due to extended lockdowns intended to prevent the spread of covid-19, and in the UK a generous government lending scheme now dominates the market. But private fund managers also have a role to play, maintains John Bakie

FS/KKR double up in BDC merger

In accordance with the idea that size matters, a partnership between FS Investments and KKR, that manages two business development companies, has agreed to merge them.

Why ESG has to go beyond banner waving

Responsible investing goes to the heart of the single most important metric in the debt industry: risk.

Loan Note: EBITDA addbacks under the spotlight; Ares-backed Guitar Center seeks way out of bankruptcy

S&P draws attention to ongoing concerns around EBITDA addbacks. Plus, Guitar Center seeks a way out of bankruptcy and the ACC measures the extent of covenant breaches. Here’s today’s brief for our valued subscribers only.

The credit secondary market comes of age

The private debt asset class has matured to the point where the secondary market is beginning to develop scale, with a range of opportunities emerging, says Daniel Roddick

Credit managers positive about future despite portfolio challenges – report

While 2020 has been a challenging year for many managers, a huge majority are bullish about the future of the asset class.