Asset-backed finance is “next frontier” of private credit
Peer2Peer Finance News
by Suzie Neuwirth
16h ago
The $5tn (£4tn) asset-backed finance (ABF) market presents a great opportunity for alternative lenders after commercial banks scaled back their activities in the space, according to Oaktree. In the latest monthly round-up from the alternative asset manager, co-chief executives Robert O’Leary and Armen Panossian noted that “ABF has been transformed from a low-return, bank-dominated asset […] The post Asset-backed finance is “next frontier” of private credit appeared first on Alternative Credit Investor ..read more
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Rebuildingsociety requests fair competition review by FCA
Peer2Peer Finance News
by Hannah Gannage-Stewart
18h ago
Rebuildingsociety chief executive Daniel Rajkumar has urged the Financial Conduct Authority (FCA) to review its high-risk investments policy, arguing it places peer-to-peer lenders at a competitive disadvantage. Writing to the regulator and his MP, Hilary Benn, on 13 February, Rajkumar said the High-Risk Investments regime is making it economically unviable for P2P lenders to invest […] The post Rebuildingsociety requests fair competition review by FCA appeared first on Alternative Credit Investor ..read more
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Resource Capital Funds sees credit opportunity in small-cap mining space
Peer2Peer Finance News
by Suzie Neuwirth
18h ago
Mining-focused alternative investment firm Resource Capital Funds (RCF) has identified a credit opportunity within the small-cap mining space, after European banks retrenched from lending to the sector after the global financial crisis and Eurozone crisis. Read more: Magnetar execs launch clean energy investment firm RCF has provided alternative capital to the mining sector since it […] The post Resource Capital Funds sees credit opportunity in small-cap mining space appeared first on Alternative Credit Investor ..read more
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UBS pledges to ‘build on’ real estate and private markets business
Peer2Peer Finance News
by Hannah Gannage-Stewart
21h ago
UBS has said it will be “building on” its real estate and private markets business, in its latest annual report. The investment bank flagged a range of alternative asset classes in the report, including real estate and private markets, indexed and alternative beta strategies, exchange-traded funds, and sustainable- and impact investing products and solutions. “In […] The post UBS pledges to ‘build on’ real estate and private markets business appeared first on Alternative Credit Investor ..read more
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Downing expands development finance team
Peer2Peer Finance News
by Hannah Gannage-Stewart
1d ago
Downing Property Finance has appointed investment manager Doug Bowley to its development finance team. Bowley will be responsible for new business origination via his developer and broker network, leading the deal process from enquiry stage through to completion. Bowley joins from Hilltop Credit Partners, where he spent two years within a debt fund specialising in pan-European […] The post Downing expands development finance team appeared first on Alternative Credit Investor ..read more
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Blackstone boss cites 0.3pc default rate on private credit
Peer2Peer Finance News
by Hannah Gannage-Stewart
1d ago
Blackstone has attributed its biggest fourth-quarter gains to the private credit market, citing a 0.3 per cent default rate. During an interview with Bloomberg in Tokyo last Thursday, Blackstone chief executive officer Steve Schwarzman said he was unaware of any bank that could claim a lower default rate. “I have quite good confidence in our ability […] The post Blackstone boss cites 0.3pc default rate on private credit appeared first on Alternative Credit Investor ..read more
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Linklaters bolsters private markets team with new hires
Peer2Peer Finance News
by Kathryn Gaw
2d ago
Linklaters has bolstered its private markets team with a series of new hires. The law firm has announced the election of 27 new partners and 49 counsel across the business globally. These hires include senior additions to the firm’s investment funds business, as well as private equity and financial sponsors offerings. Newly-promoted partners include Benjamin […] The post Linklaters bolsters private markets team with new hires appeared first on Alternative Credit Investor ..read more
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Pemberton’s latest direct lending fund closes with €2.3bn
Peer2Peer Finance News
by Kathryn Gaw
2d ago
Pemberton Asset Management has announced the close of the third iteration of its Strategic Credit Fund with €2.3bn (£1.97bn). Strategic Credit Fund III is one of Europe’s largest opportunistic direct lending funds. Since its launch in 2017, Pemberton’s strategic credit opportunities strategy has amassed assets under management (AuM) of €4.9bn. “In the current cycle of […] The post Pemberton’s latest direct lending fund closes with €2.3bn appeared first on Alternative Credit Investor ..read more
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Debt-for-equity swaps soar but exits at 3-year low
Peer2Peer Finance News
by Suzie Neuwirth
2d ago
European debt funds have equitized a record level of loans to private equity-backed companies but most are struggling to exit those investments, new research has found. Debtwire analysis showed that since 2018, European credit funds have fully or partially equitized at least 61 loans provided to private equity-backed companies. However, of those 61 deals, only […] The post Debt-for-equity swaps soar but exits at 3-year low appeared first on Alternative Credit Investor ..read more
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UBS sells $8bn of Credit Suisse loans to Apollo
Peer2Peer Finance News
by Suzie Neuwirth
2d ago
UBS has sold $8bn (£6.3bn) of senior secured loans to alternative asset manager Apollo, as part of its efforts to sell off non-core assets from its takeover of Credit Suisse last year. The investment bank entered into an agreement with former rival Credit Suisse to acquire its securitised products unit in 2022, with Apollo contracted […] The post UBS sells $8bn of Credit Suisse loans to Apollo appeared first on Alternative Credit Investor ..read more
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