The mega-sponsor is planning originations in the coming months, primarily in the buyouts space.
The ratings agency's report finds distributions for notes backed by fund stakes fell due to decline in deals.
The former titan of fund finance’s portfolio includes loans that will need steep haircuts. And that’s not the only challenge.
The portfolio of 201 loans has an unpaid principal balance of around $18.5 billion.
The opening up of the market for pension fund-issued collateralized fund obligations could represent a major avenue of liquidity relief for other investors.
The two, both on the board of the Fund Finance Association, have been consulting on the carve-out, purchase and rebranding of TIAA Bank.
New origination head moves to Sydney to fill position previously held by Steven Mansy.
GPs acknowledge fundraising is difficult, but they have perhaps surprising lofty expectations for the near term
Five banks acted as joint sustainability coordinators on the facility, secured by PAG for its private credit business.
Industry veteran Dee Dee Sklar will help the secondaries GP with its credit arm.