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Benefit Street affiliate BDC buys stake in ABL lender Siena
5 years ago
Business Development Corporation of America (BDCA), a non-traded business development company managed by Benefit Street Partners, has bought a controlling stake in Siena Capital Finance -
Californian pension eyes commitment to THL direct lending fund
5 years ago
RVK, the general investment consultant of the Santa Barbara County Employees’ Retirement System (SBCERS), has recommended the $2.8 billion US pension fund commit up to $25 million to THL Credit Direct Lending Fund IV -
Prudential adds mid market energy specialist to lead fund origination
5 years ago
Prudential Capital Group, the private capital arm of PGIM, has appointed a managing director of Prudential Capital Energy Partners -
Churchill appoints head of underwriting
5 years ago
Churchill Asset Management has announced several promotions including head of underwriting and managing director, underwriting and portfolio management -
Direct lender suspends withdrawals amid large loan default, reports Bloomberg
5 years ago
A borrower comprising 25% of a direct lender's portfolio has defaulted on a loan - leading to the fund suspending withdrawals and redemptions to investors -
Ares grows credit 34% with direct lending boost, but high yield takes rough ride in Q4
5 years ago
Ares Management Corporation reported strong returns for its European direct lending strategies in the fourth quarter of 2018. But the firm's overall revenues slumped and its US loan funds and high yield strategies were hit by the volatile credit market -
Mid market CLO round-up: eyes (wide) open as mid-market CLOs re-awaken
5 years ago
AB returned to the middle market CLO space this week after a year out to price ABPCI V. It is the second middle market CLO of the year after Fortress Investment Group refinanced Fortress Credit Opportunities VII. -
San Francisco pension deploys $125 million into private credit
5 years ago
San Francisco City and County Employees' Retirement System has bolstered its private debt bucket, making a $125 million commitment to a senior debt fund and opportunistic credit fund that builds on other private debt investments since last year -
AB returns to CLOs by pricing 2019's first mid-market new issue
5 years ago
AB Private Credit Investors, the middle market credit arm of AB, has become the first manager to price a new issue CLO backed by mid-market loans in 2019 -
HPS targets $8 billion for flagship mezzanine strategy
5 years ago
HPS Mezzanine Partners 2019, the firm's fourth fund in its mezzanine strategy, has won $100 million from a Louisiana pension fund -
It’s going to be a credit picker’s market
5 years ago
Our panel of experts believe that the credit market will be volatile this year, but there will be opportunities in European credit and additional tier one bonds, trups CDOs and unitranches -
SEC proposal could strengthen BDCs’ power to purchase funds
5 years ago
The Securities and Exchanges Commission (SEC) has released proposals to allow regulated US funds, including listed funds, closed-end funds and business development companies (BDCs), to acquire shares of other regulated funds in excess of current limitations -
CLO manager base to boom as four debut managers plan first-quarter launch with JP Morgan top choice of arranger
5 years ago
The US CLO market welcomed four new managers in 2018, but this year the same number could be launching in just the first quarter -
Private credit managers are partially insulated from daily market moves — for them it’s the dough, not the Dow
5 years ago
If asked about credit investing, Yogi Berra might have said take the fork in the road leading to private credit, says our columnist Randy Schwimmer -
Tree Line grows $300 million US lower mid-market debt fund
5 years ago
Tree Line Capital Partners is targeting $300 million for its second lower-middle market direct lending fund, according to 6 February US regulatory filings -
Carlyle performance dips in Q4, but credit teams ride global volatility
5 years ago
Credit fund performance dipped for the Carlyle Group in the fourth quarter, as market volatility and fund outflows put a dent in the industry’s much stronger performance of the previous three quarters -
Oaktree reports distressed gains over year despite Q4 losses
5 years ago
Oaktree was not immune from challenging fourth quarter globally. Its distressed debt strategy, for instance, returned a gross loss of 1.5% -
LBC hires former GE official as managing director in Chicago
5 years ago
LBC has made a senior hire to its direct lending business and has also promoted one of its managing directors to partner -
New York pension fund allocates $150 million to special situations fund
5 years ago
The new investment will sit within the pension fund’s opportunistic alternatives bucket -
Bain BDC wins leverage approval from shareholders
5 years ago
Bain Capital Speciality Finance has won shareholder approval to double the amount of leverage it can use -
Medley and Sierra fight back over NexPoint's "$225 million value" claims
5 years ago
Medley Capital Corporation and Sierra Income Corporation have issued a joint statement disputing facts claimed by Highland affiliate NexPoint Advisors -
Eldridge snaps up co-founder stake for majority ownership in direct lender Maranon
5 years ago
Eldridge Industries has acquired a majority ownership position in the middle-market lender, buying an additional stake from Marnon co-founder Tom Gregory -
New York pension ups commitment to HarbourVest by $400 million
5 years ago
New York State Teachers' Retirement System has topped up commitments to Maple Fund, having already approved $600 million in 2017 -
Performing credit tops distressed credit for Blackstone, but credit AUM declines
5 years ago
The firm is looking to boost its direct lending business to gain $10 billion of available capital over the next couple of years -
FrontFour continues to urge shareholders to vote against Medley BDC merger
5 years ago
FrontFour Capital Group, a shareholder with 3.8% ownership of Medley Capital Corporation, has issued yet another statement for shareholders to vote against the proposed merger of Medley Management with Sierra Income Corporation.
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