What Questions Should Allocators Ask When Evaluating Direct Lending Managers?
From 2010 through 2024, conditions were extraordinarily favorable for private credit funds. As a result, most managers delivered strong returns.
While it is extremely difficult to predict when the credit cycle will change, cycles will inevitably happen, and today’s credit market faces a range of risks:
Silver Point Leads Financing of Acquisition of Goodyear Chemical by Gemspring Capital
Silver Point Capital, a global leader in credit investing, today announced that its Direct Lending business has served as a Joint Lead Arranger in the $450 million secured term loan financing supporting the acquisition of Goodyear Chemical, a leading producer of synthetic rubber, by Gemspring Capital Management.
What Can a Credit Analyst Learn from the Rise and Fall of First Brands?
As I wrote in my book, The Credit Investor’s Handbook (Wiley Publishing, 2024), the role of a credit analyst is to assess risk and determine whether the expected return on a debt instrument sufficiently compensates the investor for the risks identified. Throughout the book, I focus on identifying red flags—warning signs indicating that a company might be riskier than it initially appears. I emphasize that a red flag doesn’t automatically mean the debt is a poor investment, but rather that an astute and sophisticated analyst may conduct deeper due diligence and ask additional questions to assess the situation thoroughly. Sometimes, further analysis lends confidence in the investment. However, if the due diligence raises concerns or the company fails to provide sufficient information for risk evaluation, the opportunity is likely not worth pursuing.
Silver Point Leads Financing of Acquisition of MGM Northfield Park by Clairvest
Silver Point Capital, a global leader in credit investing, today announced that its Direct Lending business is leading the financing supporting the acquisition of the operations of MGM Northfield Park, a regional racino in Northfield, Ohio, by Toronto-based Clairvest Group (TSX: CVG). Silver Point is serving as Lead Arranger and Administrative Agent in the secured credit facility supporting the $546 million acquisition.
Silver Point Leads Southeastern Grocers Refinancing
Silver Point Capital, a global leader in credit investing, today announced that its Direct Lending business has led the recapitalization of Southeastern Grocers, LLC (SEG), a regional grocer which operates the Winn-Dixie brand. Silver Point was the sole lender in a $200 million senior secured facility.
Silver Point Leads Refinancing Transaction for Vantage Specialty Chemicals
Silver Point Capital, a global leader in credit investing, today announced that its Direct Lending business has served as Joint Lead Arranger in the refinancing of the outstanding debt of Vantage Specialty Chemicals, a leading solutions-oriented natural ingredients platform that is a portfolio company of H.I.G. Capital. The transaction included a new revolving credit facility and term loan for Vantage.
Silver Point Capital Provides $85 Million Loan to Great Point Studios and National Resources to Refinance North Broadway Campus Studio in Yonkers
Silver Point Capital, a global leader in credit investing, today announced that its Direct Lending business has provided an $85 million bridge loan to the joint venture of Great Point Studios and National Resources to refinance their North Broadway Campus studio in Yonkers, New York.
Silver Point Leads Debt Financing of Acquisition of Digital Solutions Provider AVI-SPL by 26North
Silver Point Capital, a global leader in credit investing, today announced that its Direct Lending business has led the financing supporting the acquisition of AVI-SPL, the global leader in audio-video and unified communications technologies, by 26North Partners.
Silver Point Leads Financing of Acquisition of noosa yoghurt by Lakeview Farms
Silver Point Capital, a global leader in credit investing, today announced that its Direct Lending business has led the financing supporting the acquisition of noosa Holdings, Inc., a leading manufacturer and marketer of premium whole-milk, Australian-style yoghurt products, by Lakeview Farms, a portfolio company of CapVest Partners. The $500 million term loan facility provided by Silver Point is also being used to refinance the existing debt of Lakeview Farms.
Silver Point Leads Financing of Acquisition of Brightcove Inc. by Bending Spoons
Silver Point Capital, a global leader in credit investing, today announced that its Direct Lending business has led the financing supporting the previously announced acquisition of Brightcove Inc., a U.S.-based streaming technology company, by Bending Spoons, the Italy-based technology company.
