AUM growth expectations at odds with consolidation trend Many private markets managers expect rapid growth in the coming years, but some of those optimistic firms may find themselves being bought – just ask some BDC managers. One of the marquee stories in the finance world post-global financial crisis has been the rise of alternative assets….
Private credit’s downturn performance will predict its growth in Asia – and the world Alternative asset managers expect Asia, save China and the Middle East, to be the strongest growth area for their investor base in the coming years. The growth of alternative asset investments coming from Asia has been real, and managers believe it…
Firms bullish on an expanding investor base As alternative assets continue their rise, private fund managers may well keep notching additional LPs with each new product and successor fund. A majority of private fund managers expect to see growth across most aspects of their investor base, according to a survey conducted last month by Private…
European senior debt is a big winner – for only a few managers What’s better than being on top, both in the capital structure and fundraising totals? European senior debt funds collected a record amount of cash in the first quarter, but notably, the period had the fewest number of fund closes. We conclude that…
North American private credit market: sponsored by private equity The fates of the two asset classes are largely intertwined and the deluge of private equity capital bodes well for debt managers’ dealflow. In case it wasn’t clear that the North American sponsored finance market is booming, here’s a set of figures for you. Private equity…
When junior debt fundraising comes out on top The lack of mid-market mezzanine opportunities has likely caused the size of mezzanine funds to grow faster than senior debt vehicles. Fewer firms are raising a greater portion of all private debt capital, but this stands out to be particularly true in mezzanine debt. Junior loan funds…
Why the UK is OK Politicians are still fumbling for an appropriate response to the UK’s Brexit vote, but the drama has not destroyed prospects for private debt funds targeting the country. The UK may have voted to leave the European Union in June 2016 but, in the almost three years since the referendum was…
One more sign fewer firms are raising more of the money Fundraising data showed an acceleration of fewer vehicles collecting an outsized amount of capital; the amount raised in the first quarter changed little compared to Q1 2018. If the stratification of asset managers by size signals an asset class that is maturing, then private…
Wanted: European private credit co-investors While private equity co-investments are broadly popular, such positions in private debt remain relatively rare, though they show room for growth. Co-investments are not quite the norm in private credit, but they represent a possible area… Subscribe to Read MoreAlready a member? Log in here...
European real estate debt: Are the foundations crumbling? Investor enthusiasm appears to be waning as Brexit worries cast a cloud over the sector. Capital allocated to funds with a focus on European real estate debt reached a record level of almost $12 billion in 2017, according to PDI data…. Subscribe to Read MoreAlready a member?