Some have labelled this a ‘golden age’ for private debt, but fund managers would do well to avoid complacency. Here are five threats to those in the industry.
10 min read · 02 October 2023
Even the possibility of a victory by the bankruptcy trustee struck fear in the hearts of market participants. The victory has gone to the defendant, JPMorgan.
3 min read · 25 August 2023
Lender-on-lender violence is being seen with increasing frequency as private debt firms show their willingness to be aggressive in stressed scenarios.
2 min read · 24 August 2023
Creditors battling to recover the trucking company’s nearly $3bn in obligations include the US Treasury, Apollo, the Teamsters and pension interests.
3 min read · 11 August 2023
Affirmation of ‘uptier rights’ of non-PTL creditors signals a likely continuation of creditor-on-creditor violence.
3 min read · 03 August 2023
New York bankruptcy court approves sale of the SVB Securities business for $81m in cash and subordinated debt to Klarman-backed management group.
2 min read · 10 July 2023
A US bankruptcy court has allowed for defense costs of current and former directors to be covered by insurance.
2 min read · 06 June 2023
An aggressive landmark ‘uptier exchange’ by mutual funds, despite confusion and talk of perjury, is prevailing.
3 min read · 19 May 2023
Next thing you know, private credit will be bailing out the banking system. Past experience of crises will ‘come in handy’ says one industry professional.
3 min read · 04 May 2023
Creditors of individuals or corporations with cannabis interests may seek conversion of Chapter 11 cases to Chapter 7.
3 min read · 21 November 2022
