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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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Asset management firm Post Advisory Group said on Tuesday that it will build a US CLO management business, to be led by the former head of Alcentra’s US loan business, as deal volumes race past last year’s figures.
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Japanese telecoms company SoftBank has done it again. On Tuesday, it replicated its 2015 success of a €4.5bn bond issued outside of the US high yield market with a new €4.75bn issue.
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Lion Capital, the consumer specialist private equity firm, has funded the acquisition of a controlling stake in sports nutrition brand Grenade with a credit facility from EQT.
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Moody’s Investors Service has appointed Vishal Damani as head of US intermediaries in its relationship management team, a newly created position. Damani had a similar role at Fitch Ratings.
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A debut non-conforming UK RMBS deal from Together Financial Services, formerly Jerrold Holdings, is being marketed to investors this week, the first public RMBS from the specialist lender.
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Synlab, the French clinical services provider, achieved tight pricing on Tuesday for its leveraged loan. That bodes well for a September deal pipeline that has swelled to over €5bn. But bankers cautioned small deals may still have to fight for investor attention against large offerings like Stada’s €2bn loan.
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