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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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GlobalCapital has published the nominations for its Sustainable and Responsible Capital Markets Awards. The winners will be announced on September 17, at our Awards Ceremony in Amsterdam. -
The weak state of investor protections on leveraged loans should spur creditors to engage borrowers early on debt restructuring, two lawyers have argued. The abundance of cov-lite deals mean traditional early warning signs have evaporated.
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Apollo subsidiary Redding Ridge has hired Pretium Partners executive John D’Angelo as CLO portfolio manager in New York.
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UK mining company Sirius Minerals has put its hopes of survival on getting a high yield bond away in September after it postponed a deal earlier this week. But investors are skeptical about the firm's chances. Sirius will run out of money by the end of September and its $3.8bn financing package will turn void on October 30.
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Michael Reuther, head of Commerzbank’s corporate clients division, expects more firms to enter the bank’s "intensive care department" as economic pressures weigh on European corporates. And in his unit the cost of risk more than tripled in the second quarter, helping to shrink operating profits.
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Barings has raised €1.5bn for its second European private loan fund, as the asset manager looks to grow a business that has seen the company lend €3bn over the last two years.
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