July 2014: Mark Carnegie has teamed up with fixed income dealer FIIG to create Alternate Debt Services (ADS), which aims to link high-growth companies with private debt from investors chasing yield.
ADS structures and arranges high-yielding debt (senior, junior and mezzanine), hybrids and preferred equity, offering investors returns of 10 per cent to 20 per cent. It fills a “market gap” where borrowers are too risky for bank loans or simple corporate bonds but are not risky enough to produce the returns of more than 20 per cent demanded by Carnegie’s equity funds.