Edition:
United Kingdom

Andrew Hedlund

Goldman Sachs seeks up to $17 billion for private credit across two funds

29 Jul 2020

NEW YORK (LPC) - Goldman Sachs Merchant Banking Division (MBD) is seeking up to $17 billion for private credit investments for senior debt financings and special situations transactions, according to documents from Connecticut's state pension plan.

Private credit lenders seek protection in minimum liquidity protocol

09 Jul 2020

NEW YORK, Jul 9 (LPC) - Private credit firms are requiring their borrowers maintain a strong liquidity cushion as the coronavirus pandemic forces middle market companies to wrestle with spiking leverage levels and falling profits.

Blackstone eyes U.S. $7.5 billion for mezzanine debt

07 Jul 2020

NEW YORK (LPC) - Private equity firm Blackstone Group LP's credit arm GSO Capital Partners is seeking U.S. $7.5 billion (5.98 billion pounds) for its fourth subordinated debt vehicle, according to investor notes from the Teachers’ Retirement System of Louisiana.

REFILE-Blackstone eyes US$7.5bn for mezzanine debt

06 Jul 2020

NEW YORK, Jul 6 (LPC) - Private equity firm Blackstone Group LP's credit arm GSO Capital Partners is seeking US$7.5bn for its fourth subordinated debt vehicle, according to investor notes from the Teachers’ Retirement System of Louisiana.

New Mexico public fund to provide capital for small businesses during pandemic

02 Jun 2020

NEW YORK, June 2 (LPC) - The New Mexico State Investment Council (SIC) fund is offering financing to in-state businesses, an alternative to federally funded loans for small and mid-sized companies that are heavy in requirements and often reserved for better-known borrowers.

Dividend cuts loom over BDC market as pandemic extends

16 Apr 2020

NEW YORK, April 16 (LPC) - Business development companies (BDC) feeling the squeeze from the economic shutdown caused by the coronavirus pandemic are likely to pass that pressure onto shareholders over the next two quarters through dividend cuts.

Credit managers that embraced aircraft investing face uncertain future

07 Apr 2020

NEW YORK, April 7 (LPC) - In the years that followed the global financial crisis, private debt managers added myriad strategies to their product suite, including niche ones like aircraft investing, an industry now at the epicenter of the fallout from the coronavirus pandemic.

BDCs reassure investors as they confront coronavirus, recession fears

27 Mar 2020

NEW YORK, March 27 (LPC) - Business development companies (BDCs) are seeking to reassure their investors as they face a one-two punch from the coronavirus pandemic and fears of a deep recession rattle the US.

Banks seek Libor floors for non-sponsored borrowers

25 Mar 2020

NEW YORK, March 25 (LPC) - Banks that lend to small to medium-sized businesses are looking to add a baseline to Libor, the benchmark interest rate they make loans against, a move that would ensure the financial institutions a minimum income on the debt securities.

Coronavirus puts private credit to the test

11 Mar 2020

NEW YORK, March 11 (LPC) - Private credit funds face a challenging fundraising environment, as investors grapple with a potential decline in portfolio values while the coronavirus outbreak tests the solidness of a market that has yet to experience a significant shakeup.

World News