Steve Bills
Joncarlo Mark remains convinced that the world is ready for an even more vigorous secondary market for limited partnership interests.
As they look forward to their first reviews by federal securities examiners, buyout firms should do all right so long as they can document that they have established the proper policies and procedures to comply with the law and that they are actually following them, lawyers say.
Partners Group AG plans to use its new €375 million ($483.7 million) credit vehicle to fill a gap in leveraged lending, and in its investors’ portfolios. But it doesn’t plan to take advantage of financial distress in European markets.
TPG Credit is closing in on its $1 billion cap for its sophomore credit strategies fund, doubling the commitments for its inaugural fund, according to a regulatory filing. The team managing the fund has expertise in mid-market distressed corporate debt, non-performing loans in Europe and the acquisition of used aircraft.
The revival of the collateralized loan obligation market continues apace, with at least two new CLOs closing in the past two weeks, their managers announced.
America’s buyout shops aren’t exactly falling over one another to take advantage of liberalized rules for marketing their funds, according to fund sponsors and market watchers.
Distributions of profits to buyout shop executives have begun to tick up after slumping in recent years, said R. Michael Holt, a specialist in private equity compensation trends. “Carried interest payouts, or distributions, have been nominal at best” in recent years, said Holt, who has tracked pay practices in the industry for more than a […]
Double dip or no double dip, backers of U.S. turnaround shops are gearing up for an increase in financial distress. At least 14 such funds are, or have recently been, in the market this year, seeking to raise $27.3 billion, according to Thomson Reuters data.
Buyout industry watchers say change is likely to come slowly in the fundraising market, even though the Securities and Exchange Commission has proposed rules to ease marketing restrictions that date back nearly 80 years.
Five-year alliance with CIFC Corp. CIFC to manage GE Capital’s CLOs GE Capital gets seat on CIFC board GE Capital Corp. could step up its corporate lending, including to sponsor-backed borrowers, by working with a CLO specialist to bundle up its loans for sale to investors in the secondary market. CIFC Corp., a publicly traded […]