Europe

LCM secures €3.8bn for credit opps first close

The amount includes €600m contributed by Brookfield.

Mid-market lenders step up as maturity wall looms

A rise in ventures targeting programs of less than $100m a loan should be viewed as a barometer for broader commercial real estate financing markets.

Park Square closes junior capital fund with €2.4bn

Fund V will follow its predecessor strategy of backing private equity-backed companies in defensive sectors.

Pemberton secures $1.7bn for first NAV finance fund

The credit manager said economic conditions were causing private equity managers to seek additional funding for their portfolios.

Flexam holds second close of asset finance fund with €50m from EIF

The fund will follow Flexam’s established strategy of securing loans to SMEs against mission-critical assets.

GSE re-privatisation – are sovereign funds poised to benefit?

With Fannie Mae and Freddie Mac potentially in line to lose their grip on the US residential mortgage market, might SWFs be among those filling a financing gap?

The guarantees empowering investors in real estate finance

‘Bad boy’ guarantees offer lenders protection from unscrupulous sponsor behaviour, but definition and enforcement may present challenges, writes Stephenson Harwood’s Daniel Andrews.

US investors seek out new fundraising shores

Legislative uncertainty prompts LPs to look beyond US-focused direct lending funds, even as the market retains its dominance in private credit fundraising tables.

Alpha Fund Finance on why new capital sources demand lender flexibility

Lenders are responding to an increase in non-institutional investors and semi-liquid vehicles, while GP borrowers are opening up to new sources of fund finance, say Edward Beecham and Megan Livingstone of Alpha Fund Finance.

Why appetite for diversification may not be satisfied

With a wide range of strategic options, it may seem counterintuitive that last year saw LPs doubling down on well-established direct lending exposures. For many of them, committing capital to new areas is not as straightforward as it may seem.