Mittelstand relies on loan funding

Mittelstand is German for tradition and solidity. However, even successful mittelstand firms currently face the music of succession, equity and debt which are making it hard for these companies to refinance existing liabilities as much as finance their much needed growth. Mittelstand loans Traditionally, solid midmarket companies avail of high […] Read More »

Convexity eastwardly mobile !!!

Convexity has moved to the centre of gravity in Germany – Berlin and are up and running in this exciting city. It is so exciting you might have been wondering why we did not move here sooner…   Our new contact data are   Hubertusbader Strasse 24 14193 Berlin Telefon […] Read More »

Infrastructure debt – sexy but complex

Despite their complexity investment in infrastructure debt can be quite attractive In the past infrastructure investment have predominantly been made by private equity managers. However, the desperate search for yield other investors have drawn into this assetsegment. The debt element of infrastructure projects offers greater insight for investors than the […] Read More »

Investors rely on Rating Agencies in Germany

Institutional investors depend enormously from the large investment rating agencies.   The rating of bonds and other debt instruments substantially influences the balance sheet, the solvency and the entire investment structure of the investors. Two different aspects now come into fruition. Many regulators rely on external agencies and their ratings Solvency […] Read More »

Subordinated debt: cutting edge between equity and debt

The market for subordinated debt is growing substantially. You are buying interesting opportunities as well as risks. The Lehman crash is close to its sixth anniversary on September 15.  Investors are well prepared to take on risks again.  Promising yields are available in subordinated debt with incremental pickups against senior […] Read More »