Junior Debt

China’s Huatai unveils its first private credit fund – exclusive

The $500m fund has started deploying capital, focusing on corporate and real estate investments across selected countries in Asia-Pacific.

Sumpster exits LGIM as equity strategy put on hold

Tom Sumpster’s departure comes after LGIM’s attempts to expand its infra strategy beyond senior debt hit roadblocks.

Keppel-Pierfront private credit fund targets $600m for Asia-Pacific

The vehicle has held a first close on $200m and is now in the deployment phase.

Does BDC second-lien risk spell trouble ahead?

As BDCs dive down into the capital structure and into sectors facing tough times, recovery rates could be significantly lower than during previous downturns. Andrew Hedlund investigates

KKR posts low returns amid BDC leadership changes

The firm’s publicly traded and private BDCs will get new co-presidents as the current one leaves but will remain president of the BDCs’ advisor.

Blue Peak launches pan-Africa fund with $200m target – exclusive

The Tunis and London-based firm is aiming for a first close in Q1 2020 as it targets an SME funding gap in the region.

Charting the mezzanine fightback

In the US, unitranche loans have given the senior-junior debt capital structure a run for its money in recent years, but mezzanine lenders are still finding deals.

Europe’s mezzanine moment

Unitranche has dominated the continent’s private debt markets in recent years. But, as David Turner reports, mezzanine’s advocates say that it offers better prospects.

KKR posts 5% LTM gross returns in alternative credit during Q2

The alternatives giant is in market with its latest direct lending vehicle focused on Europe, where executives said the firm has seen increased investor interest due to negative-yielding debt.