We are pleased to announce that Park Square Capital has won the Private Debt Investor 2016 award for European Junior Lender of the Year. We would like to thank our colleagues and friends throughout the industry who nominated us for this prestigious award.
The Park Square Capital Team
PDI Annual Review 2016:
“When London-based fund manager Park Square Capital announced it had closed its Park Square Capital Partners III subordinated debt fund on €1.2 billion in April, beating a €1 billion target, it came in the early stages of what turned out to be a challenging year for Europe’s junior lenders. After all, there was a risk of re-pricing taking place as a result of fears around China growth and Brexit concerns offset by a relative dearth in the supply of buyout deals.
“It encouraged us to further invest in our coverage teams,” reflects Park Square managing partner and co-founder Robin Doumar. He adds that, in the current climate, it’s generally harder to raise funds for junior than senior debt. This is because the former typically comes from the alternative assets allocation and has to compete with private equity returns, whereas the latter competes with fixed income, which is offering very little value.
One key to raising money successfully, says Michael Small, a partner at Park Square, is the knowledge of market conditions that comes with experience. “You need to know when to lean in and push hard and when to take your foot off the gas,” he says.”