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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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CLO manager Neuberger Berman said on Thursday that it had closed its CLO risk retention vehicle with around $450m of committed capital to invest in risk retention financing. -
Kraton Polymers, the US chemicals, has scheduled a bank meeting for Monday in London for a debut €220m term loan, with proceeds repaying some of its existing dollar facilities.
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Private investment firm Partners Group has further bulked out its standalone private equity business with the closing of its latest direct investment fund at €6bn, as players historically on the limited partners’ side of the sector increasingly focus on doing direct buyouts themselves.
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Deutsche Bank’s resurrection as a force in capital markets will have to wait a little longer, based on disappointing second quarter figures the bank released on Thursday. Though the bank has rebuilt its capital base and settled many of its legal issues, its investment bank underperformed second quarter numbers from US peers.
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Asian bond investors reclaimed some of their power this week, but the coup was far from bloodless. Three single-B rated issuers were forced to pull planned dollar bonds. Morgan Davis and Addison Gong report.
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The race for the fixed line assets of Hutchison Telecommunications is nearing the finish line, with details emerging on the financing to support a bid by US private equity firm I Squared Capital. The firm is competing against a joint bid from MBK Partners and TPG Capital, which can already boast one clear win in the sector. Shruti Chaturvedi reports.
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