Davide Scigliuzzo
@dscigliuzzo
Followers
4K
Following
1K
Media
359
Statuses
3K
Senior editor @business overseeing global private credit coverage. 🇮🇹 in LA after 7 years in 🗽. Views my own. He/him 🏳️🌈
Los Angeles, CA
Joined June 2009
Our new issue of Going Private is out! Featuring: Canadian pensions, conflicts of interest, struggling pioneers and private credit as “the economic Marines”. ⬇️ Read & subscribe here ⬇️.
bloomberg.com
Private markets and the forces moving capital away from the public eye.
0
0
5
Our Big Take today: How insults and indecision dragged down a private-credit pioneer. w/ @Ell_Schneider & @silasfelixbrown
bloomberg.com
Current and ex-employees of Prospect Capital describe a culture so dysfunctional that other firms don’t want to work with it; Prospect executives say they have a proven investing track record and...
0
3
6
RT @business: Canyon Partners CIO Todd Lemkin is leaving the firm after more than two decades, capping a series of leadership changes at th….
bloomberg.com
Canyon Partners Chief Investment Officer Todd Lemkin is leaving the firm after more than two decades, capping a series of leadership changes at the $26 billion asset manager.
0
2
0
Private credit M&A is on 🔥. Monroe Capital, a US lender with nearly $20b of AUM, has agreed to sell a majority stake to European investment firm Wendel. Scoop ⬇️.
bloomberg.com
French investment firm Wendel has agreed to acquire a majority stake in private lender Monroe Capital for $1.13 billion to extend its reach to the booming private credit category.
2
3
9
Another option on the table for HPS, alongside IPO or outright sale: minority stake investment worth $1b or more from Lunate, the Abu Dhabi-based asset manager. Scoop w/ @DNair5 & @silasfelixbrown .
bloomberg.com
Lunate, the Abu Dhabi-based asset manager, is considering buying a minority stake in HPS Investment Partners as the private credit firm weighs an initial public offering or sale, according to people...
0
0
4
RT @GillianTan: BlackRock is among firms exploring a purchase of credit manager HPS Investment Partners. Scoop w/ @DNair5 @dscigliuzzo @rng….
bloomberg.com
BlackRock Inc. is among firms exploring a purchase of HPS Investment Partners, according to people with knowledge of the matter, in a deal that would push the world’s biggest asset manager into the...
0
8
0
Some candid comments from CVC’s Mazza on NAV lending. “They’re really putting leverage on already levered companies.”. “In my opinion that’s a bad sign.”. w/ @gmorpurgo.
bloomberg.com
Private equity firms are finding new ways to monetize investments and return cash to their investors amid a sluggish market for exits, according to a top CVC Capital Partners executive.
0
0
1
After losing market share to private credit lenders for years, banks are winning some business back. Almost $30 billion of private debt has been refinanced through broadly syndicated loans so far this year. Story by @Ell_Schneider & @Tobin_Tweets.
bloomberg.com
Banks are capitalizing on lower interest rates to claw back corporate debt deals from private credit funds, staging a major comeback after losing market share in recent years.
0
2
9
RT @business: JPMorgan has agreed to partner with Cliffwater, FS Investments and Shenkman in an effort to broaden its reach in the $1.7 tri….
bloomberg.com
JPMorgan Chase & Co. has agreed to partner with Cliffwater, FS Investments and Shenkman Capital Management Inc. in an effort to broaden its reach in the $1.7 trillion private credit market, according...
0
2
0
S&P has cut its outlook on Prospect's $8 billion private credit fund to negative, citing concerns over mounting losses and non-accruals. $PSEC Story by @Ell_Schneider.
bloomberg.com
S&P Global Ratings revised its outlook on Prospect Capital Corp. to negative, citing concerns over mounting losses and non-accruing loans in its portfolio.
0
0
2
RT @business: HPS, the private credit manager carved out of JPMorgan in 2016, has begun discussing an initial public offering with potentia….
bloomberg.com
HPS Investment Partners, the private credit manager carved out of JPMorgan Chase & Co. in 2016, has begun discussing an initial public offering with potential investors, according to people with...
0
5
0
Wells Fargo has cut its price target on Prospect over the risk of further dilution for existing shareholders. $PSEC.
bloomberg.com
Wells Fargo & Co. cut its price target on Prospect Capital Corp., an $8 billion publicly traded private credit fund, over the risk of further dilution for existing shareholders.
0
0
1
The CEO of Prospect Capital - an $8 billion private credit fund that's faced criticism over some of its practices - lashed out at a Wall Street analyst during an earnings call: “Is the house on fire? Why are we talking about something like that?” $PSEC.
bloomberg.com
Prospect Capital Corp.’s CEO and founder John F. Barry III lashed out at a Wall Street analyst during a quarterly earnings call, defending the investment firm’s track record and blasting some of the...
0
0
4
Prospect is pushing back against criticism over its frequent use of PIK debt and its reliance on individual investors for funding. Shares in its BDC have dropped 9% to a four-year low since our report on Tuesday highlighted those concerns. $PSEC.
bloomberg.com
Private lender Prospect Capital Corp. defended its 20-year track record, pushing back against criticism over its frequent use of arrangements that allow borrowers to pay interest with more debt and...
0
0
2
The golden age doesn't look so golden at Prospect Capital, an $8 billion private credit fund that's facing a surge in borrowers paying interest with more debt. @JohnBSage & @Ell_Schneider spent months digging into why analysts are getting worried. $PSEC.
bloomberg.com
As Prospect Capital faces a surge in troubled borrowers paying interest with more debt, concerns over the fund’s finances are growing louder.
3
5
13
RT @GillianTan: Todd Boehly is planning to create a new asset management firm & is in talks to sell a stake in a bid to turbocharge growth.….
bloomberg.com
Todd Boehly is planning to create a new asset management firm, and is in talks to sell a stake to investors in a bid to turbocharge growth and fund potential acquisitions across the globe.
0
7
0
RT @danielelepido: Fintech conglomerate ION Group had total debt equal to 10 times earnings at the end of 2023 after including around $3 bi….
0
2
0
RT @GillianTan: Hayfin Capital Management, the private-credit specialist that began exploring a sale last year, has put those plans on ice….
bloomberg.com
Hayfin Capital Management, the private-credit specialist that began exploring a sale last year, has put those plans on ice in favor of a management buyout, a person with knowledge of the matter said.
0
3
0
RT @GillianTan: MetLife is pursuing an acquisition of private credit specialist Hayfin. (Summer) Friday scoop with @dscigliuzzo ⬇️ $MET. h….
bloomberg.com
MetLife Inc. is pursuing an acquisition of Hayfin Capital Management, the private credit specialist that began exploring a sale last year, people with knowledge of the matter said.
0
4
0