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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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Four fund managers have left Kames Capital’s fixed income team to join competitor Artemis this week, prompting a staff reshuffle at their former employer and expectations of new high yield funds being opened at their new home.
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Element Materials Technology, the UK materials testing company owned by Bridgepoint, was looking for a small loan extension this week, and seeking consent from its investors for higher leverage ratios under the loan covenants.
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Chinese property developer KWG Group Holdings executed a swift tap last Friday to use up the rest of its fundraising quota for the year, adding $150m to its coffers.
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Bank of the Lao PDR (BOL) is planning to return to the loan market for a $100m facility with an unlimited greenshoe option.
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China’s Kunming Dianchi Water Treatment has launched its debut offshore loan of $150m.
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Triple-C rated high yield bond issues had disparate fates this week. While UK private schools group Cognita was pulling its new notes, adding to November’s list of failed deals, German pharma company Stada priced its bonds in line with guidance.
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