Use of payment-in-kind loan terms is growing as companies struggle with heavy leverage and high interest rates
Firm is also weighing IPO while world’s largest money manager seeks to boost its presence in alternative investments
A rapid expansion in finance is coming together in an excitable cocktail of risk and opportunity
Plus, how Andrea Orcel covertly built up a stake in Commerzbank and celebrities ditch BDO after ex-employee is accused of fraud
Chief Marc Rowan sets targets for private capital group to become one of world’s largest debt underwriters
US lender seeks to win back business from asset managers that have targeted traditional banks’ most lucrative clients
The impact of leveraged payouts examined
Led by a onetime dealer in death benefit settlements, the leveraged buyout pioneer evolves into a bulge-bracket lender
A bitter bankruptcy fight is playing out between HPS Investment Partners and the parent company of Redbox
Private credit lenders including Blue Owl and Ares take control of software group in deal that values it at about $900mn
Plus, private credit giant HPS gets a huge capital injection and Cargill feels the commodities hangover
Investors pile into private credit, with HPS and Goldman Sachs among those to have raised blockbuster funds
Acquisitions of investment shops have been viewed as a means of catapulting ahead in $1.7tn private credit market
The attractions for private credit funds of asset-backed lending are clear
The venture is the latest in a string of tie-ups as traditional banks try to find a place in the private credit industry
Use of fund-level net asset value loans to pay dividends falls 90% after institutional investors raise concerns
Investors pay the price for flocking to so-called cov-lite leveraged loans with reckless abandon
Pluralsight lender group marked debts at seemingly implausible highs
Investors face a wide-ranging estimate of losses on loans to Pluralsight after demand for its training videos fell
Auction attracted some of the biggest names in private credit
US asset manager aims to double size of fund in the next year
Investment manager has doubled in size in four years and is now considering IPO or merger
Deal would feed growing appetite for credit as bidders expand beyond their private equity roots
Plus, Deutsche Bank goes on a hiring spree to beef up dealmaking and UBS tries to fix Credit Suisse’s Greensill mess
Lenders are considering their options at Pluralsight, a distressed company owned by private equity firm Vista Equity Partners
