Hints and tips:
Related Special Reports
...Castlelake has taken advantage of recent market turmoil to expand its credit portfolio beyond aircraft leases, buying up billions of dollars of consumer instalment loans from fintech group Upstart....
...Many large private equity firms use whitelists....
...They’re also backing this up with a relatively niche argument: The number of private-credit loans being refinanced in BSL markets vs BSL loans being refinanced in private credit markets: At first glance...
...For example, if a private credit fund owns a $150mm loan, funded by $100mm of investor capital and $50mm of external leverage, this would be counted as $100mm of assets, assuming the loan is valued at par...
...(Wall Street Journal) — When did it become normal for most Americans to rely on loans for every major expense — cars, houses, college, etc?...
...Private equity-owned German real estate lender Aareal Bank warned there was “more to come” after one in four of its US office loans went into default last year....
...Leverage — funds borrowing more money to make loans — adds risk, too....
...Annual growth in the bloc’s private sector lending, excluding securitisations, has slowed from above 7 per cent in mid-2022 to only 0.4 per cent last month....
...senior loans....
...Traditional private equity firms in the past five years have however raised mega private credit funds that can go head-to-head with the bank-originated syndicated loans extended to companies of in effect...
...of euros in interest-free, unsecured loans to help them buy two private jets....
...As the market grows, investors are more actively trading private credit loans that are halfway to maturity (or longer)....
...At worst, it’s shows a central risk of private credit markets, and private markets in general: Too much creativity/optimism on loan valuations can leave investors holding junkier debt than they thought....
...Roughly $10bn of so-called private credit loans have been refinanced in public markets, as borrowers pay down burdensome loans in favour of a cheaper alternative, according to data from Bank of America....
...The investigation relates to a loan made by an Austrian private bank to Signa, said people with knowledge of the probe....
...Real estate markets also face unique challenges: $3.6 trillion of commercial real estate (CRE) loans are maturing in the U.S. and Europe through 2025, many of which may not qualify for extensions....
...loan....
...A decade of easy money though has skewed negotiating dynamics more in favour of borrowers and their private equity backers....
...Equinox, the popular luxury gym chain, has raised $1.8bn from a group of private capital investors to refinance more than $1bn in loans and give it financial breathing room....
...Private equity group Carlyle will take control of Southend Airport after sealing a deal to resolve a row over a loan made during the pandemic....
...Rover Group, in what would be one of the cheapest private credit loans on record… In response [to banks offering cheaper loans] private credit firms including Blackstone, KKR & Co., and HPS, among others...
...Rising public equity market valuations and demand from credit funds to make new loans are fuelling a recovery in activity....
...So you’re now seeing more and more competition between banks and private credit for the business of lending to companies. And that’s leading to falling prices on loans....
...Perhaps it is time to cut private equity managers some slack. In recent weeks, these financial sponsor firms have been big borrowers in the leveraged loan market....
...Princeton gets burnt by private equity For many years, investing in private equity was a sure way for university endowments to make money....
International Edition