In recent years, fundraising has piled into the larger private debt funds – creating an elite of capital gathering powerhouses. Catalin Voloseniuc of SEE Credit Partners says its time to consider other options.
The fund, which had a target of $1bn, attracted investors who were all new to the firm's debt platform.
Heavily invested legacy vintages might suffer more than funds in market, with the jury still out on whether this crisis will be sharp and short like the GFC, or sharp and longer-lasting running through various cycles.
Are private asset classes better positioned to weather the crisis? Our senior editorial teams covering PE, private debt, infrastructure, real estate and secondaries provide insight.
The asset class has some reasons for optimism as it begins to map a way through the covid-19 crisis.
The deal was used to seed the $440m debut credit fund of Angel Island Capital.
First-time fund managers are set to have an even tougher time on the fundraising trail amid the pandemic, but there could be opportunities for those raising capital on a deal-by-deal basis.
Drawdowns could enable managers to pre-empt liquidity issues arising from the pandemic but may compound the problem for certain LPs.
There is light at the end of the tunnel for the private debt market as long as it learns from past crises, argues Gabriella Kindert of Mizuho Europe.
The world's second-largest PE firm enforces a firm-wide travel ban in the wake of the coronavirus pandemic.