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Hatzinger had been Agricole's head of loans for Dach
Claim that fees put off institutional investors denied
Liquidity event at American manager comes at fraught time for industry
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BNP Paribas has shaken up its advisory business to address underperformance in its home market, but this must be more than a quick fix to restore national pride, writes David Rothnie. -
Chairman and CEO of NXT Capital, Robert Radway, will retire next year after 11 years spent at the middle market finance firm. Radway will step down as CEO on January 1, 2021, but will continue as chairman and member of the NXT Capital investment committees until his retirement at the end of next year.
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Capital markets players have a variety of stances on the forthcoming US presidential election. A survey by UBS this week found 51% of wealthy US investors wanted Joe Biden to win, while 55% of business owners favoured Donald Trump.
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Jefferies smashed its way into the European CLO primary market this year, hiring a team from the market’s top ranked arranger, Citi, and igniting a hiring merry-go-round. But the boutique bank doesn’t have the balance sheet muscle of its commercial rivals, and observers questioned how it planned to compete in the commoditised world of warehouse lending. Now however, GlobalCapital understands it has sourced external funding and has at least one warehouse already in the works.
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A Climate Bonds Initiative and Credit Suisse document on ‘financing credible transitions’ may help to create a market standard for judging when a company is moving to a net-zero carbon future. One of its creators said that, in theory, firms could raise dedicated transition equity as well as debt.
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The ‘normalisation’ of the CLO market has stalled, with spreads for single-B tranches now at levels where issuing makes little sense, pushing many managers to retain these notes or print lower levered deals.
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