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EG Group targets $13bn New York IPO to drive growth and reduce debt

Private Equity Insights

EG Group aims to use the proceeds to reduce its $9bn debt and fund expansion, with a focus on strengthening its US operations. Ahead of the IPO, EG Group has taken steps to optimise its financial structure, including divesting non-core assets. The IPO will reportedly value the UK-based firm at approximately 10.7bn ($13bn).

Debt 130
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Schroders to shut Australian private debt business 

Private Equity Wire

Schroders is shutting down its AUD100m ($63m) Australian private-debt business, citing increased competition in fundraising and sourcing investments, according to a report by Bloomberg citing CEO and Chief Investment Office Simon Doyle.

Debt 97
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This Completely Off-the-Radar Company Yielding 11.5% Might Be the Safest High-Octane Dividend Stock to Own in 2025

The Motley Fool

BDCs are a type of business that invests in the equity (common and preferred stock) and/or debt of middle-market companies. 30, PennantPark held nearly $1.984 billion in assets. billion in debt securities. This makes PennantPark a primarily debt-driven BDC. billion debt portfolio is first-lien secured.

Companies 246
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BNP Paribas names private debt directors for new lending strategy

Private Equity Wire

BNP Paribas Asset Management has appointed Linda Fodil and Thibault Sartori as Private Debt Investment directors to support its new direct lending strategy. Both will be based in Paris and report to Christophe Carrasco, Head of Private Debt.

Debt 94
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Japanese pension fund Chikyoren selects global firms for PE and private debt mandate

Private Equity Wire

Japans Pension Fund Association for Local Government Officials (Chikyoren) has selected four firms two from the US and two from Japan for a global private equity mandate, according to a report by Asia Asset Management. Additionally, it has appointed one firm each from the US and Japan for a global private debt mandate.

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PE-owned Hearthside files for bankruptcy after debt struggles

Private Equity Wire

The move comes after the food company failed to refinance significant debt. Hearthside, which produces a range of food products including frozen burritos and crackers, filed in a Texas court on Friday, listing assets and liabilities between $1bn and $10bn. Bloomberg had reported last week that a bankruptcy filing was imminent.

Debt 97
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Private credit funds take control of Alacrity in $4.3bn restructuring backed by BlackRock

Private Equity Insights

A consortium of private credit funds, including Antares Capital, Blue Owl Capital, KKR, and Goldman Sachs Asset Management, has agreed to take control of Alacrity. When BlackRock made its investment, Alacrity carried around $1bn in senior debt and $500m in junior debt, financed by Goldman Sachs wealth management division.