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A myriad factors are resulting in shorter maturities for sub lines, though borrowers can pay up for longer ones.
Lenders favor big GPs in Q2, leading to pricier credit for mid-size sponsors.
The former titan of fund finance’s portfolio includes loans that will need steep haircuts. And that’s not the only challenge.
With banks constrained by market uncertainty, sub lines are taking longer to negotiate.
The portfolio of 201 loans has an unpaid principal balance of around $18.5 billion.
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.
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