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The era of pure-play private equity is over. Banks are pulling different divisions together to serve the complex needs of global asset managers
Specialist moves after 18 years in the market
New dangers are making deals harder to do, but pricing for the haves is still tight
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CVC’s secondary buyout of building material firm Stark Group will crank leverage back up at the group, following a tough year when previous owner Lone Star battened down the hatches and paid down debt during an initial scramble for liquidity when the coronavirus pandemic struck. -
Shurgard, one of Europe’s largest self-storage companies, has returned to the US private placement market for the third time, according to market sources. The company is only the second from Europe to launch a PP deal this year.
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Solar and wind power company ReNew Power added further momentum to India’s green bond market this week with a new $460m deal.
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Extra-large deals are flooding the CLO market with MidCap Financial Services, a subsidiary of Apollo, resetting its $1.206bn mid-market CLO named Woodmont 2017-2, and sources expecting new issues in large size ahead.
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Debra Anderson, head of Tikehau Capital’s CLO business, is finishing her notice period before retirement. She joined the company in 2014, and will be concluding her financial career after 34 years in the sector.
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A number of smaller European banks are trying to buy Schuldscheine on the secondary market, according to sources with knowledge of the situation, in order to post it as collateral to receive cheaper funding from the ECB ahead of a March 31 deadline.
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