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As funds swell, pressure to deploy rises and managers can stray from their expertise
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
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Fosun International has raised a larger-than-expected $700m to help fund a tender offer that will close next week, while Kaisa Group Holdings was in and out of the market with a $500m tap of two existing bonds.
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State-owned Argentine oil and gas company YPF became the first borrower from the country to tap international bond markets in 14 months on Monday. Yet despite a healthy reception from investors, bankers do not expect copycat trades from other Argentine issuers.
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Crédit Agricole CIB has reorganised its leveraged credit business, bringing leveraged loan and high yield bond syndicate and sales together, while also combining LBO, telecoms, and high yield bond origination.
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Investment manager CVC Credit Partners has closed its latest fund, a $1.42bn vehicle that will focus on distressed opportunities across North America and Europe.
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UK-based active fund manager Artemis has launched a short end high yield fund, to be managed by David Ennett and Stephen Baines.
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Cielo, the largest merchant acquiring and payment processing company in Brazil, on Friday wrapped up a consent solicitation and bond buy-back for its global 2022s that will effectively split the note in two.
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