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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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The US basketball league The National Basketball Association has sold $900m of US private placements, according to market sources, some four months after the National Football League came to the market for $1.7bn. -
Mid-market firm CapVest won the auction to buy software provider Datasite with a unitranche loan in October, and it is now taking out the senior layer with a public syndication to firm up the financing on better terms. It's a deal that combines the strengths of public and private funding.
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US direct lender Owl Rock has hired its first employee in London, as it seeks to develop its business in Europe.
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Schuldschein investors have soured on auto, travel and retail sector borrowers through the coronavirus pandemic, which had historically brought significant deal flow to the market. Now bookrunners are scrabbling to find new sectors for investors to lend to.
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The UK government tightened guidance for local authority borrowing on Wednesday, in a bid to stymie the riskier borrowing-to-invest models certain UK councils have adopted over the past decade.
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UK homebuilder Bellway has sold £130m of US private placements, according to market sources, across seven and 10 years. This is likely to be the last broadly marketed USPP deal of the year.
