Financing
Leveraged loans issuance sets new record
High-yield bonds backing LBOs followed a different route, with volume decreasing 67% from Q2
Fund financing and ESG: from the impact niche to the mainstream
ESG-linked fund financing facilities are becoming a prominent – and well publicised – tool in the ESG toolbox for GPs and lenders
CapMan takes ESG-linked facility for CapMan XI
Raiffeisen Bank International and Danske Bank have provided the capital call bridge facility
CVC Credit finances Livingbridge's World of Books buyout
Livingbridge bought the UK-based online reseller of secondhand books from Bridges Fund Management
17Capital raises USD 4.5bn across preferred equity strategies
Fundraise includes a USD 2.9bn final close for 17Capital Fund 5, which surpasses its target
Aliante Partners secures preferred equity with Pomona
Deal includes a liquidity option for LPs and a second preferred equity line for add-on acquisitions
17Capital provides portfolio finance facility to Investcorp
Deal results in exposure to a portfolio of PE, real estate and credit assets in the US and Europe
HIG hires Lorenz to lead DACH WhiteHorse team
Sebastian Lorenz joins HIG's direct lending division from Barings as a principal and head of DACH
Waterland secures €500m ESG facility for eighth fund
ABM Amro, Rabobank and Natixis arrange the facility for the GP's €2.5bn latest fund
ABN Amro backs ESG-linked facility for AlpInvest
Facility is for AlpInvest Co-Investment Fund VIII, with interest payments linked to ESG performance
Debt funds celebrate strong dealflow following Covid stress-test
Direct lenders now see shift away from refinancings and towards new deals, including 2020 processes coming back to life
Deutsche Handelsbank expands growth finance team
Firm aims to strengthen its venture debt offering via two promotions and a director appointment
European Direct Lending Perspectives Q4 2020
Only 9% of market participants anticipate coronavirus negatively impacting fundraising in 2021, with a majority expecting deployment to pick up
Q&A: 17Capital's Thomas Doyle
"We see no ceiling for the adoption of NAV-based financing as a standard tool for portfolio management"
German banks and debt funds split LBO market share in Q3 – survey
GCA's Q3 2020 Mid-Cap Monitor also shows that new financing deals increased in the German market
Sponsor-lender relationship faces stiff Covid-19 test
GPs' relationships with their existing banks and debt funds will remain key to managing the ongoing consequences of the crisis
Video: ThinCats' Ravi Anand
Unquote interviews the managing director of alternative lender ThinCats, a sponsor of the British Private Equity Awards 2020
European Direct Lending Perspectives Q2 2020
Debtwire and Creditflux examine the way direct lenders reacted to pandemic-related upheaval and how the industry looks set to bounce back
Video: Travers Smith's Sam Kay on fundraising's paradigm shift
Unquote interviews Sam Kay from Travers Smith, finalist in the Fund Structuring category at the 2020 British Private Equity Awards
BVCA summit: fund financing boom necessitates tailoring
Market participants discuss IRR-enhancing tactics, emergency liquidity and negotiations with LPs
DACH lender sentiment continues to improve – survey
Leverage has not changed significantly for resilient assets, which are still prioritised
Ex-Investec James Stirling joins Westbrooke's debt fund
Stirling spent 14 years at Investec, most notably as head of growth and acquisition finance
OakNorth Bank provides fund facility to BlueGem
Key investors include Glendower Capital, Blackstone's Strategic Partners and BMO Global Asset Management
Debt funds making inroads in DACH amid Covid-19, says GCA
GCA's Mid Cap Monitor shows that debt funds financed 71% of German LBOs in H1 2020, with the firm expecting an activity uptick in Q4
