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Fundraising
The portfolio of 201 loans has an unpaid principal balance of around $18.5 billion.
The opening up of the market for pension fund-issued collateralized fund obligations could represent a major avenue of liquidity relief for other investors.
GPs acknowledge fundraising is difficult, but they have perhaps surprising lofty expectations for the near term
Half-year fundraising dropped by a fifth year-on-year to $315.5bn across just 508 vehicles that held final closes over the period.
Five banks acted as joint sustainability coordinators on the facility, secured by PAG for its private credit business.
'If LPs are not there to provide capital, GPs need to slow down their pace of deployment and potentially pass on more deals,' Eneasz Kadziela told affiliate title Buyouts.
Industry veteran Dee Dee Sklar will help the secondaries GP with its credit arm.
New firm Henry Capital wants to match PE firm employees' LP commitments.
Form ADV data and industry snapshot reveal that nearly 40 percent of advisers include performance information in their ads.
Lender aims to fill the void in private equity financing caused by US regional banking crisis.