United Kingdom

Kerstin Kubanek

Direct lenders hold onto portfolios as virus fears grow

20 Mar 2020

LONDON, March 20 (LPC) - While fears over the coronavirus outbreak grow, direct lenders have limited choice but to hold onto their illiquid portfolios as the exit routes in mid-market lending remain limited.

CORRECTED-UK real estate back in vogue for lenders

03 Feb 2020

LONDON, Jan 28 (LPC) - UK real estate has become an increasingly attractive proposition for cash-rich lenders in the wake of the UK elections, offering investment diversity and yield.

Sponsors restrict loan sales in private debt market

09 Jan 2020

LONDON, Jan 9 (LPC) - Sponsors are imposing stronger restrictions in loan agreements to limit a direct lender’s ability to offload debt to third parties, as the credit cycle advances and fears of a downturn increase, banking sources said.

Direct lenders take on syndicated loans with stretched senior funds

29 Nov 2019

LONDON, Nov 29 (LPC) - An increasing number of direct lenders are launching a new generation of stretched senior debt funds that will compete with the syndicated term loan B market as they diversify strategies in a bid to put more money to work.

Direct lenders increase focus on Spain in hunt for deals

06 Nov 2019

LONDON, Nov 6 (LPC) - Direct lenders are increasingly looking for opportunities in Spain, following private equity firms into the region as they look beyond a crowded Western European mid-market in search of new deals and yield, bankers said.

PDM backs US$150m loan for Bridgepoint's Qualitest buy

03 Oct 2019

LONDON, Oct 3 (LPC) - Specialist debt investor Permira Debt Managers has scooped a role as senior secured lender on an approximate US$150m loan backing private equity firm Bridgepoint's acquisition of North American pure-play outsourced software testing and quality assurance provider Qualitest, banking sources said.

Short-term strategies limit risk in private debt

19 Aug 2019

LONDON, Aug 19 (LPC) - Smaller European direct lenders are raising funds and lending on a short-term basis in a bid to limit potential late cycle credit losses, as macroeconomic and political risks rise in more volatile markets.

Pemberton raises €1 billion European credit fund

01 May 2019

LONDON (LPC) - Asset manager Pemberton has raised €1 billion (£859 million) for its Strategic Credit Opportunities Strategy, which is the first primary-focused credit opportunities fund in Europe, the company announced.

Private debt firms boost loan syndication capability

17 Apr 2019

LONDON, April 17 (LPC) - Private debt funds are building teams to boost their ability to syndicate loans as a flood of cash into the sector helps them to target bigger deals, drawing criticism from competing banks and peers, as well as regulators who see the shadow banking sector as a possible systemic risk.

Permira and Tikehau Capital team-up to fund Ardian’s Revima buy

04 Apr 2019

LONDON, April 4 (LPC) - Private debt investors Permira Debt Managers (PDM) and Tikehau Capital have teamed-up to provide around €100m-€150m of debt financing to back investment house Ardian’s acquisition of a majority stake in aircraft maintenance company Revima, banking sources said.

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