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Subscription Credit Lines
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.
Lender aims to fill the void in private equity financing caused by US regional banking crisis.
The hires for a new subscription lending program include four previously reported ex-Signature bankers along with six others – a larger group than Private Funds CFO had reported before.