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Private-credit funds invest in the debt of small and medium-sized companies, which may be higher risk and therefore less attractive to a typical bank. Because this debt is higher risk, it pays ...
Goldman Sachs, the storied investment bank, has been building its private credit business since the 1990s. In fact, Goldman’s first mezzanine fund raised $1.2 billion in 1996.
In addition to private funds, much of the capital for private debt comes from business development companies (BDCs). BDCs were created by Congress in 1980 as closed-end funds regulated under the Investment Company Act of 1940 to provide small and growing companies access to capital and to enable private equity funds to access public capital markets.
Private credit firms with $30 billion to $70 billion in assets will be the firms to watch. While deals make sense on paper, firms might have to deal with potential culture clashes.
The private-equity asset class is inherently illiquid and is designed for long-term investment by institutional investors, such as pension funds, sovereign wealth funds, insurance companies, endowments, and family offices for wealthy individuals. The secondary market provides these investors with an avenue for liquidity, enabling them to manage ...
In April 2007, Forbes Media acquired Investopedia.com for an undisclosed amount. At the time of the acquisition, Investopedia drew about 2.5 million monthly users and provided a financial dictionary with about 5,000 terms regarding personal finance, banking and accounting. It also provided articles by financial advisers and a stock market ...
Affirm Holdings is getting its largest-ever capital commitment with a new partnership from private credit firm Sixth Street, which is investing in $4 billion worth of loans over the course of ...
Various investor classes look to the financial sponsor to generate value in a company as much as the management or operations of the company. In particular, debt providers are willing to extend credit in the form of bank loans, high-yield debt and mezzanine capital based in part on the reputation of and relationship with the financial sponsor.