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Record fundraising in 2025 has left private lenders fighting for deals
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
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Germany’s Schuldschein market entered the second half of the year on strong form, after near-record issuance in the second quarter. But sharply tightening pricing in the bond market, which competes with it for deals, could yet scupper hopes for a record year. -
A blockchain and distributed ledger technology (DLT) company is launching a platform to increase access to capital markets funding for small companies and open the private debt market to more investors.
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With the Federal Reserve on Wednesday signalling a July interest rate cut, investors say they are planning to move further afield for opportunities, shifting more heavily into off-the-run assets to hit yield targets.
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UBS has created a new global team focused on private capital markets, giving it more exposure to a rapidly growing area of finance, as companies go public later in their life cycles and the amount of institutional and private money dedicated to private equity has grown and become more sophisticated.
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Intermediate Capital Group has hired a managing director of subordinated debt and equity in Germany, a new position.
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Leveraged loan and high yield bond documentation is starting to see a new feature creep in — anti “net short” language, which attempts to stop creditors that are short the company from getting a place at the table in a restructuring. The funds targeted by the new provisions aren’t exactly the cuddliest citizens of the capital markets, but they won’t be the only casualties.
