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...Grosvenor said funds for the lending business would come from “organic growth” and “strategic sales around the periphery of the [London] estate”....
...Son also began to borrow personally from SoftBank to foot the bill for his investments in the group’s second Vision Fund, Latin America fund and shortlived hedge fund unit, SB Northstar....
...But the $900bn-plus Canadian-investment manager is likely to inject further capital into its funds, just as it does with Oaktree....
...The private equity behemoth is in the final stages of raising just under $400mn through a so-called collateralised loan obligation secured by the very loans held by its $52bn Blackstone Private Credit Fund...
...“A typical closed-ended direct lending fund would have a term of six to 10 years,” he says. “The funds we focus on now [for investors] have quarterly liquidity.”...
...The other factor is that fund flows into direct lending have been stable and growing, especially from high-net-worth investors putting money into semi-liquid BDCs [business development companies]....
...Meanwhile, bank lending has been constrained for regulatory reasons. The result is secured corporate lending that has migrated to the securities market or asset managers....
...Blackstone’s Steve Schwarzman noted last year that lending at 12 per cent on a senior secured basis was easy money. Traditional bank lending, however, retains advantages....
...to have a “negative outlook” because of “recent turnover in the direct lending team”....
...Blackstone Mortgage Trust said in an emailed statement: “This report is highly misleading and represents a fundamental misunderstanding of our senior secured lending business.”...
...IFR reports that Morgan Stanley is currently marketing its Morgan Stanley Direct Lending Fund at the moment — eyeing a pricing next Tuesday — while Nuveen Churchill Direct Lending Corp is likely too list...
...Baker Tilly secured a $1bn investment led by H&F in February....
...The central bank’s “pledged supplementary lending” programme, a quasi-fiscal facility for cut-price loans used in past stimulus pushes, increased the pace of lending 12 per cent in December....
...In July 2022, the firm secured a €7bn pool to lend to European midmarket companies, the largest fund it has ever raised....
...The pair plan to focus on providing senior secured loans to companies, traditionally known as direct lending, according to a filing with the Securities and Exchange Commission....
...Monzo, which recently secured a $5bn valuation, has more than 9mn clients while Revolut boasts 40mn customers and secured a £33bn price tag at its latest fundraising....
...Islamabad narrowly averted default last year with the help of an emergency IMF lending agreement....
...Smart reads Unlikely backer Retired hedge fund billionaire Leon Cooperman and a “predatory” cash-advance company had no reason to cross paths, Bloomberg reports. Then came a private credit fund....
...The next potential trigger is a £190mn lending facility at its ultimate parent company, Kemble Water. It requires repayment in April....
...Egypt secured a deal to more than double its IMF bailout to $8bn after the country allowed its currency to drop to a record low against the US dollar, unlocking support to avert its worst economic crisis...
...Executives in the NAV lending industry said that most new loans were still being used to fund distributions to the investors in funds....
...According to an investor, Gramercy’s flagship fund is up 15 per cent year to date....
...In the move earlier this month, the secured overnight borrowing rate, or Sofr, rose as much as 0.09 percentage points above the 5.3 per cent paid by the Fed to users of its overnight reverse repurchase facility...
...He has established a trustee advisory board, which includes Rockefeller Capital Management chief executive Greg Fleming; secured Millennium’s capital base by moving the vast majority of investors into a...
...Most of the people who said there was excess return to be harvested argued, in one form or another, that those returns were functions of frictions in lending markets, frictions private credit funds could...
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