Placing a bet on litigation Litigation finance has found a way to attract the retail investor. On the face of it, litigation financiers are not obvious candidates to join the massed ranks of those queuing up to try and attract retail investment. After all, there are those who say you may as well place your…
Eyes turn to Asia-Pacific The region is attracting increasing interest (see chart), which extends beyond mainstream strategies to more niche areas. Europe is the place to avoid. That was the view of longstanding limited partner Tom Tull as he said that global turbulence marked a good time to carefully evaluate the weighting of geographic exposures….
Secondaries take off in wake of covid crisis Credit secondaries are a small but rapidly growing part of the asset class and recent events bode well for this niche market. In private markets, the development of healthy secondary transactions is perhaps one of the clearest indicators that an asset class has truly matured and become…
Testing times for leveraged loans Market conditions have been described as a ‘perfect storm’ as various pressures increase. Is something about to give in the financial markets? And if so, how would that affect leveraged loans? It would not be a stretch to be concerned about such a possibility, given recent geopolitical and capital markets…
Distress on the comeback trail In an increasingly turbulent and inflationary world, could an ‘old-fashioned’ wave of distressed debt be around the corner? The covid pandemic, inflation that now looks more long term than transitory, the promise of hikes in base rates, supply chain pressures, the conflict in Ukraine. The list may go on, though…
The durability of dealflow in a crisis Private debt deals may take a temporary pause when confronted with volatility, but they soon bounce back. Private debt dealflow typically picks up strongly following market shocks. This was one of the key findings as Deloitte took a look back over ten years of its Alternative Lender Deal…
Germany defies the doubters Once seen as a private debt laggard, Germany is now at the forefront of the asset class’s deal boom. While the onset of the covid-19 pandemic saw private debt deal-doing take a rollercoaster ride through some of its lowest and highest points yet, Germany has consistently gained ground on its major…
Why large-scale distress may be back in fashion For big distressed debt funds, identifying sufficient dealflow has been a challenge. But do such investors now have a ‘perfect storm’? With the world in a state of flux, it seems an appropriate time to revisit the distressed market and see whether there is a sense that…
Safety first is good news for senior debt Investors coming from fixed income, and with anxiety around inflation, see the senior end of the spectrum as their natural entry point into private debt. The covid-19 pandemic has seen senior debt fundraising take more market share, with PDI’s 2021 Fundraising Report recording that 45 percent of…
Europe has maintained its deal discipline Despite some inflation effects being felt, the overall picture is rosy for those operating in the market. A new report from investment banking advisory firm Lincoln International highlights some of the trends from a strong year for deals in Europe in 2021. One area for concern in previous Lincoln…