Financing
Aberdeen Standard buys fund finance outfit Hark Capital
New York's Hark Capital supplies loans to mid-life and end-of-life PE and VC vehicles
Mid-market leverage continues upward creep
High price tags, limited assets and cheap debt are helping to push up leverage boundaries in the European mid-market once again
Turbo-charged: How leverage is powering up secondaries
The use of leverage in secondaries has soared, as funds are continually seeking new ways to boost spending power
Private debt funds expand market share in Germany
Growing use of use of first-out, second-out unitranche leads to private debt funds more than doubling their share of German mid-market deals
MUFG Investor Services hires new head of fund financing
Ben Griffiths will lead the fund financing team globally, offering PE and hedge fund financing products
UBS hires BAML's MacKenzie as MD
MacKenzie will focus on loans and high-yield bonds, and will report to the co-head of leveraged finance
Perfect fit: The evolving craft of fund financing
GPs are tailoring more complex and plentiful fund finance facilities to their advantage
ECB leverage guidelines: casting too wide a net?
Debt advisory firm Marlborough Partners warns that the guidelines, as they stand, could impact deals with standard levels of term debt
European leveraged loans rocket in Q1 on back of favourable terms
Opportunistic recaps and refinancings, with borrowers taking advantage of lower pricing, led to a 140% uptick in loan volume in Q1
High-yield issuance for PE buyouts hits six-year low
Loan market flexibility and pricing steal the limelight as high-yield market for buyouts raises lowest total since 2010
Investcorp completes purchase of 3i's debt management arm
Deal marks the asset manager's largest strategic investment to date, almost doubling its AUM
Lloyds appoints new head of financial sponsors
Stephen Quinn is named global head of financial sponsors, taking over from Robina Barker Bennett
Lloyds veteran Ian Sale joins HSBC
Sale stepped down from his role at Lloyds Acquisition Finance in September 2016
UK debt market rebounds in response to lower yields
Debt volumes were up 9% in Q3 2016 as lower yields prompt wave of recaps and refinancings
UK government to invest £400m in venture
Chancellor of the exchequer's Autumn Statement focuses government's attention on supporting startups
Pemberton launches £500m UK direct lending fund
New vehicle has received the backing of two LPs including Legal & General
TCA appoints Fickling as portfolio manager
New recruit will work on small-cap senior secured debt investments in European and US private equity
Debt fund allocations to increase – Elian survey
Online survey shows the industry expects to see increased allocation to private debt
UK debt volumes drop in Q2 as Brexit puts brakes on issuance
Brexit prospects impacted issuance in the UK in the second quarter, but strong buyout volumes across Europe helped keep loan volumes afloat
Nordic mid-market mezzanine’s malaise
Mid-market mezzanine has been all but entirely squeezed out of the Nordic private equity space
New rules for Italian debt create opening for alternatives
Italy opens up its credit market to European alternative investment funds
Golden age for debt funds in Germany?
Lighter rules for alternative lenders operating in Germany could encourage a wave of deal activity
How private equity is dealing with the debt deluge
Despite jitters in the large-cap space, the European mid-market continues to be flooded with financing options
Comment: The shifting debt landscape
Christopher McLean of Grant Thornton discusses the impact of the changing debt market on private equity
