Weekly data sheet: Demand for capital and recapitalisations drives launch of more debt funds

Cheyne Capital’s massive £7.5 bn target for two new funds highlights the scale of solutions required.

Cheyne said that it intends to raise up to £5 bn for its next senior lending fund and £2.5 bn for a capital solutions strategy which will provide finance across the capital stack.

Managing partner Ravi Stickney said: ‘The move to long-term necessary, productive assets and away from obsolete assets held up by low interest rates’ would be ‘a transition demanding substantial capital and complex solutions.’

Starz Real Estate, backed by Abu Dhabi sovereign wealth fund Mubadala Investments, also launched a fund to invest in debt and distressed situations.

It was a quiet week for deals. A notable transaction was UBS’s second London office acquisition this year in Midtown, of 12-14 Fetter Lane.

Several large opportunities were withdrawn from the market after failing to attract bids the vendors had hoped for.

We also track the latest loans and new assets on the market.

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