For Hans Futterman, it was a dream defaulted. The developer assembled a vacant plot of land -- formerly a Shell gas station and a parking lot -- at Frederick Douglass Boulevard and West 122nd Street in Harlem over roughly four years, from 2011 to 2015. He then secured approvals to construct a 12-story, 127-unit residential building on the site, which offers 205,000 buildable square feet. But in June of last year, Futterman, who declined to [...]
Making Sense Of Private Credit Funds | Allaboutalpha: Alternative Investing Trends And Analysis | A Finance Blog About Private Equity, Commodities, And Other Alternative Asset Classes.
A new study takes what is called a "first look" at the aggregate performance of private credit funds. Using data going back to 2004, the authors (two of whom are affiliated with Adams Street Partners) determine that private credit funds "have performed about as well, or better than, leveraged-loan, high-yield,Read More.
NewSpring Invests in Leading Specialty Pharmacy RADNOR, Pa., August 22, 2018-- NewSpring (the "Firm"), a family of private equity funds, announced today that NewSpring Mezzanine ("NewSpring"), the Firm's dedicated mezzanine strategy, has made an investment in Total Care RX, Inc. ("Total Care RX" or the "Company") alongside Gemini Investors and Celerity Partners. Proceeds from the transaction will be used to finance the growth of the existing platform.
Owl Rock Capital Partners, the credit firm founded by former Blackstone Group LP and KKR & Co. dealmakers, is close to finalizing raising money for a $3 billion loan fund, an area that has turned red hot. The asset manager also registered a new business development company with the U.S. Securities and Exchange Commission that will focus on lending to technology firms, according to a filing on Friday. The $3 billion loan fund will buy senior loans, typically made to companies with lower credit ratings, according to people familiar with the matter.
Pivotal bioVenture Partners, a life sciences venture firm, has appointed Dr. Heather Preston as a managing partner. Previously, Preston worked at TPG Biotech where she was a firm partner and managing director. [...]
Two years ago at this time, when my wife, Deb, and I were in our fourth year of travel across the country to report on smaller towns, we found ourselves increasingly drawn to the lakefront city of Erie, Pennsylvania.The initial attraction was a primal sense of topophilia on Deb's part, or fondness for a particular landscape. She had grown up in a small town on the shores of Lake Erie, 150 miles to the west on the other side of Cleveland.
Its owner took advantage of soaring values and a healthy lending environment to take out new debt on the property for the third time in six years.
Amid fierce competition for business, the balance-sheet lending operations of some banks have grown more willing to originate higher-leverage loans.Shops that previously limited loan-to-value ratios to 65% have lifted the ceiling to 70-75%, structuring the added component as mezzanine debt that will be sold to third parties. The goal is to attract borrowers by providing "one-stop shopping.""The borrowers love that execution,...
SAN FRANCISCO, May 18, 2018 /PRNewswire/ -- Gryphon Investors ("Gryphon"), a San Francisco-based middle market private equity firm, announced today that it will acquire a majority stake in Milani Cosmetics ("Milani" or "the Company"), a leading family-owned "masstige" beauty company that...