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…
The lure of the lease As the hunt for yield gathers even more intensity, the triple-net lease strategy is winning support. With the prospect of sustained inflation likely to further erode already diminishing fixed income yields, the hunt for yield and attractive risk-return is becoming even more urgent. Against this backdrop, increasing numbers of investors…
It’s not all about institutions All the talk is around retail investment as fund managers reach out to this potentially huge investor base. Retail investors have been beating at the door of the alternative investment industry and it appears the door is now being thrown open, as private debt managers increasingly fall over themselves to…
The secondaries puzzle There are signs of growth in the debt secondaries market, but investors appear less then enthusiastic about new commitments. Nearly all the indicators seem to be going one way: increased appetite for private credit secondaries. In this context, the record $1.4 billion fundraising for Coller Capital’s Credit Opportunities I fund last week…
What’s the real story on Asia-Pacific? Our fundraising data for 2021 shows impressive growth on a global basis, but not so much in a region that many claim to have strong interest in. Investor interest in Asia-Pacific is clear and undeniable. That at least seems the obvious conclusion from our LP Perspectives study, which unveiled…
The fundraising fightback Following the peak of 2017, private debt capital raising had suffered something of a lean time. Last year changed all that. Last year was the year private debt fundraising came back with a bang. After capital raising hit a low of $183.9 billion in 2020 amid the initial outbreak of the covid-19…
LP appetite strong, but some concerns are voiced Inflation and high valuations are among the factors making investors a little more uncomfortable than normal about private credit’s prospects. The release of our annual LP Perspectives study is a chance to probe LPs on their allocation strategies for the private debt market over the next 12…
Venture debt sets new records It’s a form of financing that’s taken a while to gain traction, especially outside of the US. But there are clear signs this is changing. Venture debt, long the province of the US and once viewed as a mere backstop along the way to growth for startups, is lately being…