Pref financers getting their time in the sun

Firms like Whitehorse and 17Capital have been seeing a big boost in dealflow since the covid-19 crisis began.

Preferred equity: Adam Le has this piece on how the niche preferred equity strategy appears to be coming into its own. I’ll soon be publishing a feature on what I’m calling ‘alternative fund financing’ strategies like preferred equity and concentrated net-asset-value lending (though mostly the latter), and rather than flood you all at once, Rod’s piece is a good place to start. The article is a complement to the special feature on Whitehorse Capital that we published here recently, and gives an update on the other big name in preferred equity: 17Capital. Perhaps unsurprisingly, firms like 17Capital have seen a significant bump in dealflow since the pandemic began roiling markets – just as they did in the aftermath of the global financial crisis of 2008.

Email prepared by Graham Bippart