Andy Thomson
Andy Thomson is a Senior Editor at PEI with responsibility for Private Debt Investor, the leading title focused on the world's private debt markets. Andy works closely with team members in London, New York and Hong Kong. He has been with PEI for many years, having worked previously on Private Equity International and Infrastructure Investor.
A survey from the credit secondaries advisory firm suggests the strategy has continued its ascent with more deals, stiffer competition and a wider group of participants.
The asset manager of one of the world’s largest financial institutions is seeking €500m for the vehicle.
Despite Coller Capital raising a record-breaking fund for the strategy, LP sentiment for credit secondaries does not appear to be as supportive as one might think.
The German manager is aiming to raise up to €600m for the vehicle that can invest in LP secondaries and GP-led processes.
We continue the conversation around credit secondaries with reflections on why the strategy may struggle to establish itself.
Private debt is behind other alternative asset classes when it comes to secondary activity and opinions differ as to when it’s worth taking seriously.
There are signs that a big potential source of dealflow may be starting to develop in the private debt market.
The private equity and credit firm has hired Olli Heinila, a professional with primary, secondaries and co-investment experience.
Providers of subscription lines are increasingly looking to take control of LP transfers, according to lawyers at Debevoise & Plimpton.
Not having negotiated subscription lines themselves, investors may be unaware of terms that could block sales of their interests, writes Andy Thomson, editor of sister publication Private Debt Investor.