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Jake Elmhirst was a managing director and founding member of the Private Funds group at UBS, which he left last year after 25 years.
The mid-market investment bank has appointed a 10-year veteran of Moelis & Company to co-lead the New York-based advisory unit.
The idea of having to foot a bill to the tune of millions of dollars to a loan secured by a fiction serves as a wakeup call to investors, lenders and GPs alike.
Subscription finance is busier than ever, prices are rising and competition among lenders is on the rise despite the pandemic.
Large deals, small exits
We chart the spectacular rise of concentrated NAV lending in the covid-19 era as the sub-sector comes of age.
This week Secondaries Investor moderated a panel on the debt secondaries market hosted by sister publication Private Debt Investor. Here is what we learned from the discussion featuring executives from Manulife Investment Management, Tikehau Capital and Pantheon.
Paris-based investment manager Tikehau hired StepStone's Olga Kosters to head up the strategy in November.
Iceberg ice water
The tough environment for SMEs and the business development companies that fund them represents an opportunity in a burgeoning strategy.
The appointment follows that of Daniel Lee as head of fundraising and investor relations for North America in April.
San Francisco
The deal was used to seed the $440m debut credit fund of Angel Island Capital.

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