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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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The US CLO primary market has officially reopened after a dearth of activity to start the new year, and while the market has not retraced all of late autumn’s spread widening, sources tell GlobalCapital that a burgeoning pipeline of deals speaks to steady investor demand up and down the capital stack. -
Sixteen European industrial companies have formed the Corporate Forum on Sustainable Finance, to grant themselves a stronger voice in the green bond market and promote the use of sustainable finance products.
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The volume of corporate bonds with triple-B ratings, and vulnerable to downgrades into high yield, is at its highest in history. But while the US market fears the prospect of fallen angels, Europe appears to see advantages.
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China Evergrande Group raised $3bn with a tap of three of its existing bonds, but the issuance put a dent in its secondary curve as noteholders fled to the juicier new deal.
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Investors put their faith in Mongolia’s recovery story this week, helping Mongolian Mortgage Corp (MIK) raise $250m from a bond that showed appetite for frontier market risk. Addison Gong reports.
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Profit Reach, an investment vehicle owned by Chinese billionaire Shen Guojun, is seeking a $550m refinancing loan with a rare put option provided to lenders. The deal has raised debate over whether the structure can catch on in Asia. Pan Yue reports.
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