Direct lender endorses PE fund guidelines after bringing in ex-ILPA CEO
Star Mountain Capital has endorsed ILPA’s (Institutional Limited Partners Association) private equity principles in a bid to promote transparency in the private equity fund industry

UK funds brace themselves against value-for-money ruling
The UK’s Financial Conduct Authority (FCA) has published its final set of fund governance rules that aim to strengthen the duty of authorised fund managers to their investors.

Not all BDCs will be winners after the borrowing cap is raised
BDCs will soon be able to take on twice as much debt as they were previously permitted, but some BDCs may struggle to take advantage

Libor has a new contender as New York Fed launches SOFR
The New York Federal Reserve has launched a benchmark US that may eventually replace Libor: the Secured Overnight Financing Rate (SOFR)

Good news for BDCs as congress doubles leverage limits
US lawmakers have granted business development companies (BDCs) the ability to borrow more – a move for which the BDC industry has been pushing for years

SEC's Grim and Crovitz resurface at Washington DC law firm
Two former US Securities and Exchange Commission directors have joined law firm Stradley Ronon

Bonds climb as the Dow tumbles amid Trump sanctions on Chinese imports
Investors are seeking safety in government bonds

Fund industry braces for further impact after court's DOL fiduciary rule decision
The US Department of Labor (DOL) had said it will not enforce its embattled ‘fiduciary rule’ following a legal ruling last week – but one regulatory lawyer says fund industry players should nevertheless brace for several impacts of that ruling

Ares leads the way as US tax reform prompts corporate structure rethink
Ares Management has announced its conversion from a partnership tax structure to a corporation or C-Corp – and it’s likely other managers will follow suit now that US taxation law changes – the most comprehensive tax reform in more than three decades – have taken effect

Ireland follows Luxembourg and relaxes loan fund rules
The Central Bank of Ireland is now permitting LQIAIFs to engage in broader credit-focused strategies - which opens the door for direct lenders 

London manager shutters emerging market fund amid "regulatory headwinds"
London-based Insparo Asset Management is shutting down its emerging market debt funds, the company confirms

Pimco interval fund seeks SEC order allowing it to issue further share classes
The Pimco Flexible Credit Income Fund has sought permission from the SEC to issue further classes of shares

Debt managers spot opportunity as Australia’s banks face inquiry
Australia’s government announced a long-anticipated royal commission into the nation’s financial services sector on 30 November – and a credit market expert says the move could be good news for debt market participants

Rule delay frees managers to continue selling
The US Department of Labor’s fiduciary rule were officially pushed back until 1 July 2019. That means selling funds into IRAs should be easier - for now

SEC names deputy director for its investment management unit
The SEC has appointed Paul Cellupica as deputy director for its division of investment management

Loan managers pile into BDCs amid possible change to leverage ratios
Golub Capital Partners and TCW are among those to have launched new BDCs as regulators look to revamp leverage limits

Direct lending managers flock to unregulated fund structures
Direct lending managers are seeing the benefits of using unregulated fund structures

Leader aims to be at forefront of floating rate credit fund comeback
Floating rate credit fund launches have slowed to a dribble in the past three years after launching en masse in 2013 – but they may be due for a revival

LA pension fund monitors high yield manager Aegon amid SEC investigation
The Los Angeles City Employees Retirement System (Lacers) is currently monitoring its high yield manager Aegon, which is under SEC investigation

Direct lenders eye opportunities in Germany’s lower mid market
Direct lending in Germany may be about to flourish, with regulatory changes encouraging fund managers to step into what had been considered an over-banked market

Euro loan managers breathe easy as ECB adopts US-style lending guidelines
The ECB has, to some extent, relented and provided loan market participants with a greater degree of flexibility after this morning posting the final guidance for leveraged lending in Europe

ECB's crackdown on leveraged lending clears the way for direct lenders
Regulator's plans to limit debt to ebitda ratios in loan transactions could drive traffic out of the capital markets and towards lending funds

European Commision pushes Mifid II deadline back a year
The European Commission has announced a set-back to a regulatory deadline due to 'exceptional technical implementation challenges