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...While a couple of hundred of these still hold unlimited liability, new Names typically have limited liability....
...Severe Covid-19 restrictions over the past three years limited access to the country, adding to the distance between mainland subsidiaries and their overseas headquarters....
...For lead underwriting, the general market view is that underwriters and actuaries need to be deeply involved....
...Deals and underwriting flow can only improve as financial sponsor firms — private equity — will eventually need to distribute cash back to their limited partners....
...Banks have enormous depth of relationships and debt underwriting experience....
...Ultimately, the biggest risk to PC CLOs is plain old sloppy underwriting — same as the rest of private credit. Let’s hope everyone’s done their homework....
...The question is whether the recovery suffices to sustain the hefty cost structure of equity underwriting businesses. And for that to happen, private and public valuations must start to converge....
...In response, the Treasury has limited the scope of its data collection to insurance providers that write 1 per cent or more of the US homeowners insurance market....
...The losses limited lenders’ interest in extending new loans, and when they did the terms were often too expensive for private equity firms to turn to....
...However, future innovation and growth will be limited without the physical infrastructure,” he said....
...They want banks to treat underwriting similarly to straight loans....
...Investors have had limited bond and loan financings to entertain this year....
...Expanding too fast to a broader range of products and markets brings the danger of over-reliance on volume guarantees and creating a moral hazard: that all companies seek risk underwriting before undertaking...
...“HDFC’s credit underwriting with the bank distribution opens up a large opportunity, just as the residential [house-buying] cycle is picking up,” JPMorgan analysts noted....
...“A lot of limited partners invested because of Bao Fan. It’s like having HongShan [the former Sequoia China firm] without [its leader] Neil Shen.”...
...For private equity firms, the pullback by several big banks has limited the pool of potential lenders for big takeovers....
...The investigation also demoralised and distracted Morgan Stanley’s bankers, deflating its market share in equity underwriting....
...While many of these direct lending asset managers have strong credit modelling and underwriting skills, the absence of an individual who works with the company to solve financing issues before they become...
...Lenders such as Salad Money use AI to help borrowers who might otherwise fail to satisfy underwriting criteria....
...The limited take-up of the scheme, originally billed as a £750mn commitment by the government but later upped to £800mn, reflected the challenge of trying to design a product a year in the pandemic....
...Antares Capital has hired Hayfin’s Sheila Brown as head of UK and Europe investor coverage, bolstering the asset manager’s fundraising efforts in the region....
...Many have enjoyed the influx of Chinese capital alongside limited reporting requirements, leaving politicians and regulators widely in the dark....
...The underwriting business is now being put up for sale as Saga looks to rationalise the insurance segment....
...Insurers, belatedly, also tightened up security requirements when underwriting....
...I suspect that SVB may have limited discussions to one bank in part to preserve maximum confidentiality....
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