Why banks see opportunity in advising art collectors
After a long price correction in the art market, Bank of America is expanding its advisory services for collectors — and it's not alone.
Alternative investments
Derby Lane Partners launches to invest in commercial real estate
Adam Piekarski, founder, leads initial senior members Kory Klebanoff and Urian Yap, partners, to commit $1.8 billion across the firm's investment strategies.
Invesco, Barings to offer private credit to everyday investors
The partnership is intended to combine the fixed-income abilities of MassMutual subsidiary Barings with Invesco's distribution network across U.S. wealth markets.
Private credit to drive more life insurance growth: Moody’s
Alternative asset managers, emboldened by the boom, will continue buying life insurers or seek more partnerships with them as they hunt for more capital to feed their dedicated funds.
BlackRock buys credit firm HPS in $12 billion all-stock deal
HPS founders Scott Kapnick, Scot French and Michael Patterson will lead a new private financing solutions business unit with BlackRock as the company seeks to offer the full range of public fixed-income and alternative credit funds.
Silver Creek Capital appoints new MD, business development, Callahan
One of Callahan's goals is to expand institutional investor relationships, and he joins from Investcorp, where he was a managing director of institutional capital raising for its global credit business.
White Rose raises $500 million in CFO for buyout funds
A diversified pool of buyout funds secures $500 million of class A notes issued by White Rose CFO 2023 Holdings.
Apollo creates investment group to focus on asset-backed financing
Cadma Capital Partners will provide asset-backed financing to venture- and growth-lenders, high-growth companies, and financial sponsors.
Milbank adds three partners to alternative investments practice
Urschel is said to have led the financing for the majority of recent franchised whole business securitizations and several dozen transactions involving cell tower, data center, fiber and other digital infrastructure assets.
Ares gets $500 million from Ontario pension for credit deals
Investment Management Corp. of Ontario is investing $400 million to a customized portfolio, with the goal of capitalizing on Are’s all-weather approach, taking advantage of opportunistic dislocations and market inefficiencies. The remaining $100 million will be allocated to the flagship Ares Pathfinder fund.
Apollo’s Rowan makes imprint felt with $11 billion Athene deal
The Athene acquisition completes a process that Rowan – who succeeds Black as CEO no later than July – started in 2009, when he created the annuity business so that it would send vast sums of cash to Apollo for investments
Varde raised $1.6B for second distressed opportunity fund of 2020
The fund exceeded its $1 billion target in five months of fundraising despite the lack of in-person meetings, and attracted 55% of the commitments from new investors.
By
Glen Fest
KKR Looks to boost private credit bets in asset-based financing
KKR & Co. is looking to grow its asset-based private lending business to capitalize on a retreat by banks and more traditional market participants in the wake of the coronavirus pandemic that has led to mis-priced risk.
Tom Barrack steps back from Colony Capital in era of ‘reprice and reinvent’
Colony has sold offices in Europe, industrial properties and grocery-anchored shopping centers in the U.S. In May, it announced plans to restructure seven portfolios of hotels with $3.5 billion of debt.
Institutional investors give thumbs down to federal response on outbreak
A large percentage of Institutional investors lack confidence in the U.S. government’s ability to contain and eradicate the coronavirus outbreak. But few have plans to pull capital out of specific geographic regions due to the pandemic.
By
Glen Fest
Credit hedge funds wounded with low rates crimping opportunities
A low-rate environment has allowed companies in need of financing to avoid defaults or bankruptcy, making it difficult for credit managers to profit. At the same time, the broader market has provided far better investor returns over the past year, at least before the past week.
STORE Capital marketing $663M portfolio of triple-net leases
Instead of marketing securities backed by commercial property mortgages, STORE Capital chooses the more esoteric option of securitizing the income from its triple-net leases – a similar strategy to REITS such Spirit Realty Capital and SCP Financial.
By
Glen Fest
ABS East: Portfolio diversity strategies in their infancy
An opening day panel for ABS East focused on the growing number of choices investors have in asset classes and structural options.
By
Glen Fest
