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Founder of west coast direct lender charged with fraud
3 years ago
Brendan Ross, founder and former chief executive officer of Direct Lending Investments, was arrested and charged with 10 counts of wire fraud yesterday, amid allegations he inflated the value and returns for a fund investment, resulting in mis-statements to investors and around $5-6million in overcharged fees -
Managers advised to refresh disclosures after SEC risk alert
3 years ago
Credit managers should review their conflict disclosures after the SEC issued a risk alert, say lawyers -
Fed expands scope of Main Street lending programme
3 years ago
The Federal Reserve Board has expanded the scope of its Main Street Lending Programme to allow more small and medium-sized businesses to participate -
Ares fined $1 million by SEC over 'misuse of non-public information'
3 years ago
Ares Management has been fined $1 million by the US Securities and Exchange Commission in a settlement surrounding compliance failure relating to a portfolio company -
Fed expands Main Street direct lending scheme but it's unlikely to help CLOs
3 years ago
The US Federal Reserve Board has expanded the scope of its Main Street Lending Programme following more than 2,200 letters of feedback. Under the third loan facility, lenders will hold 15% of the loan to borrowers with greater leverage -
SEC proposes new fund valuation framework
3 years ago
The US Securities and Exchange Commission has proposed a new framework for funds to determine fair value for assets for which market quotations are not readily available, which it says will "improve valuation practices and thereby protecting investors and improving market efficiency, integrity and fairness" -
SEC temporarily relaxes regulations for BDCs
4 years ago
The US Securities and Exchange Commission has provided business development companies with temporary relief in light of covid-19 - including the ability of BDCs, who are unable to satisfy asset coverage ratios, to use an alternative form of calculating leverage -
Fed commits $600 billion to SMEs in Main Street Lending facility
4 years ago
The US Federal Reserve has committed to buy up to $600 billion in loans to small and medium-sized businessness through its Main Street Lending Programme. The programme will sit alongisde the existing Payroll Protection Program (PPP), a separate facility exclusively for small businesses -
Trade body asks US government to show it CARES about BDCs
4 years ago
The US federal stimulus maintains existing regulations that exempt portfolio companies from accessing the stiumulus funds. The Institutional Limited Partners Association wants to change that -
BDCs feel squeeze on liquidity as SEC rejects plea for relief
4 years ago
Sources say that the chances of relief being granted to business development companies over the acquired fund fees and expenses (AFFE) rule are slim. Last month, industry body Coalition for Business Development stated optimistically that the “harm caused by the AFFE disclosure can be remedied in the final fund of funds rules”. -
Guidelines fail to assuage fears over loose reporting standards
4 years ago
The Chartered Financial Analyst (CFA) Institute’s new hedge fund reporting guidelines come into play next year, but some say they fall short of a much-needed overhaul. -
European regulators lower Solvency II capital charges for private debt
5 years ago
The European Commission has amended Solvency II rules to make it easier for insurance companies to invest in private debt and private equity -
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 -
BlackRock BDC seeks shareholder approval to fast-track leverage increase
5 years ago
BlackRock TCP Capital Corp has become the latest business development company to seek shareholders’ approval to double its use of leverage -
Golub Capital BDC looks to become fourth largest publicy traded BDC with merger
5 years ago
Golub Capital is seeking approval from its shareholders to merge its Golub Capital business development company (GBDC) with another one of its business development companies, Golub Capital Investment Corporation (GCIC) -
BDCs turn to CLO financing as effective alternative to bilateral leverage agreements
5 years ago
Business development companies now have the ability to take on an extra turn of leverage, but rating constraints mean they could end up using CLOs instead -
Direct lender endorses PE fund guidelines after bringing in ex-ILPA CEO
5 years ago
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 -
Not all BDCs will be winners after the borrowing cap is raised
5 years ago
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 -
Good news for BDCs as congress doubles leverage limits
6 years ago
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 -
Loan managers pile into BDCs amid possible change to leverage ratios
6 years ago
Golub Capital Partners and TCW are among those to have launched new BDCs as regulators look to revamp leverage limits
20 results found Showing page 1 of 1
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