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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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As capital pours into leveraged loans and private credit, direct lending platforms are mounting a defence of covenant protections in smaller sized deals to protect recoveries in the next downturn. -
Investment house Muzinich has hired Paul Suter to trade European high yield bonds.
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General Electric’s distributed power unit began marketing a $1.8bn leveraged buyout loan. The deal has high net leverage and tight pricing guidance, two of the possible risks in the market underlined by the Bank for International Settlements (BIS) this week.
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Peter Melichar, a veteran CLO banker, has joined GreensLedge Capital Markets in London.
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The lengthy complaint about HSBC management drafted, purportedly, by investment bankers within the firm must be taken seriously and investigated, if its new CEO John Flint wants to win the confidence of the rest of the staff and shareholders.
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Balanced, buoyant, fragile, resilient? The divergence of views on show during a panel discussion on CLOs in Miami on Monday revealed a market that is enjoying record volumes, but is also facing a range of challenges such as more complex documentation, riskier loans, spikes in refinancing activity and the evergreen issue of a lack of triple-A buyers.
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