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How private debt firms fell in love with sub lines

The use of subscription line financing by private debt managers has been an area of controversy, but market experts say its rise is inexorable.

How private credit managers can keep ahead of the game

As we near the end of the current cycle, the maturing private debt industry hits a crucial stage in its evolution. Cesar Estrada, State Street’s head of product management for private equity and real assets fund services, explains how fund services will play a part.

Back-office blues for private debt

As the asset class continues to grow quickly, it is struggling to ensure that administrative aspects keep pace.

Administrators eye growing private capital market

Private equity assets under administration, a category that includes private debt, jumped 18% to $2.29trn in 2017.

US’s $1.3trn spending bill hikes BDC borrowing capacity

The new law doubles the amount of leverage BDCs can use.

The 15-year road to Tilton’s Zohar bankruptcy

Patriarch Partners' CEO Lynn Tilton placed three CLO funds into bankruptcy earlier this month, the latest move in a 15-year long saga that has included numerous lawsuits and a victory against the SEC.

Partners Group fee income exceeds €1bn for the first time

The Swiss investor posted its largest ever fee income last year, but its performance fee pool was down by one-third despite overall performance fee growth.

Ares becomes first listed alts manager to convert to a C-corporation

The firm has also set a new dividend policy with the potential for special dividends when performance fee income is particularly elevated.

Tishman, BlackRock default on Stuy Town

After months of speculation, the two firms confirmed New York's Stuyvesant Town/Peter Cooper Village complex had missed a $16m debt service payment due today. Tishman hope to restructure the $5.4bn deal's debtload.

Tishman, BlackRock hand back Stuy Town

The joint venture has admitted final defeat in trying to restructure the debt on the New York multifamily complex, saying they had no intention of putting Stuyvesant Town/Peter Cooper Village into bankruptcy.

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