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This is one of the most notable talent moves from investment banking to private credit to date, highlighting the growing shift of senior debt market professionals into the private capital space. If finalised, the deal would rank among the largest ever private credit financings, edging out banks that had pitched to refinance the companys debt.
The potential financing package, which may carry an interest rate of 10% or less, remains under negotiation. The potential financing package, which may carry an interest rate of 10% or less, remains under negotiation. Blackstone has not yet formally mandated the funding. The bid for TMA is reportedly valued at under $500m.
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.
Allianz Global Investors closed its Private Markets Credit Opportunities Fund at 1.5bn, exceeding its initial target. The fund aims to provide flexible credit solutions to mid-sized companies across Europe, focusing on direct lending and structured credit investments. The company, co-owned by. The company, co-owned by.
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. The fund aims to generate net returns of 8% to 10% on an unlevered basis, with levered investments expected to deliver around 13%.
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.
NIIF CEO Sanjiv Aggarwal outlined the fund’s strategy at a venture capital event in Mumbai, stating that it will focus on performing credit to capitalise on the increasing investor demand for high-yield debt. The funds backers also include global investors such as AustralianSuper and Singapores Temasek Holdings.
Aviva Investors, the global asset management business of Aviva, has launched its third fund under the Long Term Asset Fund (LTAF) regime with the creation of the Aviva Investors Multi-Sector Private Debt LTAF (MSPD LTAF).
I've been in this community for long enough to know that childfree finances are as varied as childfree people ourselves. I rebuilt my finances from the ground up over the last few years. Thanks to increasing my income, I was able to pay off debt and build up real savings for the first time in my life.
Global credit investing firm Silver Point Capital has held the final close of its Silver Point Specialty Credit Fund III, which is aimed at providing loans to mid-sized companies, with $8.5bn in total capital commitments. With this latest fund, Silver Point now oversees $35bn in assets across both private and public credit strategies.
It's that time again when we're all buzzing with resolutions, and for many of us, improving our personal finances is at the top of the list. This is especially true for tackling one of the most common challenges we face: managing our debts. Think of debt as a puzzle that needs solving, not a shadow that follows you around.
Image source: Getty Images Credit card debt can be expensive, but unfortunately it's pretty common for people to carry a balance. Here's how many Americans are in credit card debt Credit card debt is the most common type of debt, according to the Federal Reserve.
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. Among the strongest contenders are KKR, Hong Kong-based infrastructure investor CKI, hedge fund Covalis Capital, and London-based Castle Water.
Image source: Getty Images Retirement is supposed to be the golden age of kicking back with a lemonade (or something stronger) on the porch, not dodging calls from debt collectors, or crying into your monthly budget. But adults between the ages of 65 and 74 have an average debt of $134,950. Other debts: To pay or not to pay?
The refinancing, led by Morgan Stanley and JPMorgan, was designed to replace a $4.8bn private credit loan raised less than two years ago, and return $1bn in preferred equity Vista invested in 2023 to complete the original financing. The proposed new structure included a $5.1bn senior term loan and a $1bn junior tranche.
Just like their impact on other aspects of pop culture, Gen Z young adults are reshaping the world of personal finances with social media trends and new vocabulary. Many members of Gen Z have a gloomy attitude about their personal finances. Let's look at a few of the biggest Gen Z finance trends and catchphrases.
I recently paid off some credit card debt, and I know how difficult it can be to tackle the problem head-on. Debt snowball method This method has become a popular way to get out of debt, not just because it works but also because it makes it easy to stay motivated. Here are three tried-and-true strategies to do it.
Abacus Finance Group , an active cash flow lender to private equity, has promoted Sean McKeever to President from Chief Operating Officer, Greg Scanlon to Senior Associate from Associate, and has hired Jeremy Pak as an Analyst. billion in financings. Abacus will use the new SBIC fund to build on its reputation for supporting U.S.-based
I'm a freelance finance writer and editor, and since I started doing this, I've learned about making a budget , using different financial accounts, and ways to save money in my everyday life. And if the prospect of picking stocks makes you quake in fear, you can opt to invest in exchange-traded funds (ETFs) instead.
Image source: Getty Images Improving your finances is a common new year's goal, but it can be difficult to know where to start, what you have time for, and what will make a significant impact. Here are five simple steps you can take to start improving your finances in 2024. Learn more here.
The transaction includes debtfinancing from CIC Ouest and Caisse Rgionale Crdit Mutuel Loire-Atlantique Centre Ouest, alongside participation from Caisse Rgionale de Crdit Agricole Mutuel Atlantique Vende and Caisse d’Epargne et de Prvoyance Bretagne Pays de Loire. Can`t stop reading?
That's why it's recommended to have an emergency fund , ideally with enough money to cover three to six months of living expenses. Some people look for alternative options, and a popular choice is using credit cards as an emergency fund. In situations like these, you'll need to go deeper and deeper into debt to keep paying your bills.
Image source: The Motley Fool/Upsplash Emergency funds are one topic where financial experts are largely in agreement. Here's how many Americans have enough in their emergency funds Over half (54%) of Americans have at least three months of emergency savings, according to data collected by the Federal Reserve in 2023.
The State of the Game The private credit arms race has taken the industry landscape by storm, with Ken Moelis citing the shift as the greatest change in the history of transactional finance. [1] In late 2024, Wendel Group acquired a majority stake in Monroe Capital , and Third Point (Dan Loebs hedge fund) acquired AS Birch Grove.
Its most recent fund, SK Capital Partners VI LP , closed in April 2024 with $2.95 Coldwater Corporate Finance served as financial advisor to Spectra Confectionery, while Cascadia Capital advised SK Capital. Debtfinancing for the deal was provided by MidStar Capital and Stellus Capital. billion in capital commitments.
The deal was led by Kohlberg & Company, with Blue Owl providing strategic financing to support the transaction. This transaction underscores the importance of strategic partnerships between private equity firms and alternative asset managers in funding large-scale deals within critical industries. The company, co-owned by.
Image source: Getty Images Having emergency savings in the bank is a cornerstone of personal finance. You should have three to six months of living expenses saved in an emergency fund. In fact, there is only one place where your emergency fund should be. set aside in case of emergencies. Here's what it is.
This marks one of the few significant acquisitions in Europes leveraged finance market amid a scarcity of M&A activity in recent years. The two banks are leading the leveraged loan financing, which will be syndicated to institutional investors next month. Capitals acquisition of Kantar Media.
Carrying credit card debt High-interest credit card debt can be an easy trap to fall into, especially if you're struggling to make ends meet. Financially literate people know how easily debt can pile up when you're paying 20% interest. That $100 purchase can turn into thousands in credit card debt over time.
74% of people felt less stressed using a financial advisor An Edelman Financial Engines survey found that 74% of people say they feel less stressed about their finances because they work with a financial professional. The biggest stressors for Americans right now are inflation, the economy, and personal finances.
A higher-risk acquisition financing strategy Occidental Petroleum sealed a deal to buy CrownRock last December, agreeing to pay $12 billion in cash and stock for the Permian Basin-focused producer. billion of new debt to fund the deal and assume $1.2 billion of CrownRock's debt. The company initially planned to issue $9.1
Apogem Capital provided debtfinancing. read more Ardian closes 3.2bn fund to drive growth in European mid-cap companies Ardian, the French private equity firm, has closed its latest mid-cap growth fund, Ardian. Honigman LLP and DLA Piper provided legal counsel for the transaction. Houlihan Lokey and Robert W.
As insurers continue their search for higher yields, many are turning to private credit investments, particularly in asset-based finance opportunities. Key areas of focus include consumer finance, commercial finance, hard assets, and financial assets, Moodys noted in its Tuesday report.
Image source: Getty Images The start of 2024 has already brought about news of layoffs across several industries, from finance to tech to media. Being laid off can deal a huge blow to not just your outlook and self-esteem, but also your personal finances. But if you're working again, make paying off that debt a priority.
Steve Madden intends to finance the acquisition through a mix of committed debtfinancing and existing cash reserves. With its global infrastructure and proven track record of supporting brands, we believe Steve Madden is the right strategic partner to help us reach our potential, Clifford said.
Vance Streets fourth fund closed at its hard cap of $775 million in May 2024. EdgePoint Capital Advisors was the financial advisor to System Seals, and debtfinancing for the acquisition was provided by BMO. Key sectors include medical technology, life sciences, industrial technology, and aerospace & defense.
Apollo Global Management is accelerating the growth of its $70bn hybrid strategies, which bridge credit and private equity financing to appeal to investors seeking more flexible options amid a slowdown in private equity distributions, according to a report by Bloomberg.
The renewable-energy industry has been beaten up over the past year as rising interest rates have hurt returns and it's getting more difficult to fund growth projects. But projects are also financed with debt, so higher interest rates will eat into returns. billion of debt maturing, followed by $702 million in 2025, and $2.0
They do their best to avoid debt Most millionaires eliminate all other debt besides a mortgage on their home. That means not carrying credit card debt from month to month or financing a new boat, ATV, or vacation whenever the whim strikes. They do everything within their power to pay off debt as soon as possible.
Canceling your credit card may help you curb unnecessary spending and alter your spending behaviors, giving you more control over your finances. Whether you downgrade your account or cancel the credit card, no longer paying an annual fee can free up more money in your budget for other goals -- like boosting your emergency fund.
net wealth, there are others about those who face homelessness, debt, and extreme financial stress. Myth 1: Baby boomers are financially ready for retirement There's an idea that baby boomers are wealthy and have stashed significant amounts of money into their retirement funds over the years. Focus on paying down high-interest debt.
Image source: Getty Images As anyone who's ever struggled with money knows, the amount you have access to makes a huge difference in how you approach your finances. Long-term financial planning One key aspect here is the ability to use your funds in a way that is beneficial to your future finances. Learn more here.
Buyout firms have long relied on controversial loans backed by equity stakes to enhance fund returns, but growing investor criticism has triggered a slowdown, according to a report by Bloomberg UK. This shift partly reflects a rebalancing of power, enabling LPs in private equity funds, such as pension funds to exert influence over GPs.
Growing debt Another cause of living paycheck to paycheck is the rise of consumer debt. consumer debt balance increased to $17.1 The relentless accumulation of interest not only limits monthly spending power; it can also trap consumers in a cycle of debt, making it difficult to break free from living paycheck to paycheck.
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