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Long seen as adversaries, banks and private credit lenders are getting used to working together
Fahy will also lead asset-based finance origination
Direct lending default rates tick higher amid notable distressed situations
A Swiss borrower has already closed books and Austria's Egger will soon
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Global investment firm Pimco has hired a new portfolio manager and managing director, who will serve as head of private credit in Europe. With this hire, Pimco is looking to bolster its special situations business in Europe. -
Workspace, the FTSE 250 real estate investment trust, has launched US private placements, according to market sources.
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The London Stock Exchange Group has partnered with fintech firm Nivaura for the exchange's new platform, called Flow. LSEG hopes that its adoption of Nivaura’s general-purpose legal mark-up language (GLML) technology will help to establish it as the industry’s automation protocol of choice.
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Schuldschein arranging banks have long claimed to be the market's gatekeepers as far as borrowers looking for access are concerned, rejecting lower quality credits to keep the standard high. As the market expanded in recent years and a richer variety of companies borrowed from it, this became a less convincing claim. But as the coronavirus pandemic rocks Europe, Schuldschein bankers say they have declined several requests from companies from risky sectors.
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Morningstar, the US investment research firm, is marketing US private placements for the first time in its 26 year history, according to several sources familiar with the situation.
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Irish insulation firm Kingspan has raised €750m-equivalent in US private placements, in its first green issue in the market.
