Fund Finance

The strategy will aim to exploit growing demand for fund finance among the private equity industry.

Lenders are stretching terms amid an overabundance of dry power and too few deals.

The $257bn pension has been seeking alternatives to secondaries sales to avoid taking massive discounts in such transactions.

Agency publishes criteria for NAVs backed by LP secondaries interests, with plans to rate other NAV types down the road.

Barclays’ liability management exercise report depicts a normalisation of the practice, and a scramble for creditors to protect themselves.

Trade group calls for LPAC consent in some cases, and for new fund documents to cover usage and limits.

Court denies motion to prevent another employee from joining UK-based Corinthia.

The partnership has $5bn in investable capital, and follows Oak Hill’s launch of a $1.5bn perpetual BDC.

After slow M&A activity in 2023, private lenders are becoming more aggressive as they fall behind schedule with their deployment of capital.