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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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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.

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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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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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Update: KKR, CKI, and FitzWalter among six bidders for Thames Water equity rescue

Private Equity Insights

The embattled UK utility, which serves 16 million households and carries nearly 20bn in debt, is aiming to secure billions in new equity by the end of June to stave off insolvency. Some bids may also include options for creditors to convert part of their debt into equity, potentially reshaping the companys financial structure.

Bidding 147
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Taking Over Finances for Your Elderly Parents? This Checklist Can Help.

The Motley Fool

Sometimes, it involves taking over their finances, because they're no longer in the best position to do so. If you find yourself in a situation where you believe it's best to take over your aging parents' finances, here are some steps that could simplify the process. Here are four steps to guide you.

Financing 246
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Fund Friday: Top fundraising news in private equity

Private Equity Insights

GSAM has committed $150m of its own capital to the fund, which will primarily target senior lending opportunities but retain the flexibility to provide junior debt when needed. He noted a growing demand for Balbecs asset-based and specialty finance strategies as investors seek diversification. reaching its $999.9m reaching its.

Funds 147