Creditflux

Crescent BDC buys Alcentra BDC in $141.9 million transaction
As part of the deal, the combined business development company will go public and charge lower management fees

Assured Guaranty to buy BlueMountain for $160 million
Assured Guaranty has agreed to buy BlueMountain Capital Management, as well as its associated entities, for $160 million

BDC consolidation continues with Oak Hill and BC Partners-affiliate merger
The consolidation of US business development companies continues... this time, with the merger of OHA Investment Corporation and Portman Ridge Finance Corporation

Investcorp enters into mid-market lending with CM Investment acquisition
Investcorp Credit Management announced today that it has bought CM Investment Partners from Cyrus Capital and Stifel Venture

Direct lending team to spin out of BlueBay and form new partnership with Dyal
BlueBay Asset Management has today announced that it is spinning off its €13 billion direct lending business

Morningstar eyes credit rating expansion as it announces DBRS acquisition
Morningstar today announced it has entered an agreement to acquire DBRS for $669 million, according to a statement from the firm

Investcorp adds fund placement business as it brings Mercury buyout to the boil
The transaction for the alternatives placement agent will help “serve investors worldwide with an array of attractive opportunities in alternative investments”, says Investcorp

Atalaya purchases Telos CLO business
Atalaya expands into CLOs to compliment existing private credit platform

Prospect's $500 million CLO fund merges with Stira Alcentra global credit fund
Prospect Capital Management’s $500 million closed-end CLO fund has officially merged with a global credit fund managed by Alcentra and Stira

Jefferies subsidiary and Stonyrock plan mid-market alternative manager stake acquisitions
The new joint venture will invest in private equity, credit, hedge funds, real estate, venture, and infrastructure firms

Medley signs agreement with activist shareholder over three-way merger
The Medley saga continues...two board of directors have been appointed and several ammendments have been made to the merger agreement

Moving on from the late 2018 hangover
It might be too early to call a full recovery, but it’s fair to say that the US loan market is back on track with $48 billion of institutional issuance in 2019 — 88% of which is made up of new issues

Now the drugs don’t work, they just make you worse

Fiera buys private credit and real estate specialist in $74 million deal
The transaction will add $3.1 billion of assets under management to Fiera Capital Corporation 

US CLO manager JMP Credit rebrands following majority acquisition by Medalist
Medalist has bought a majority stake in the US CLO manager from a subsidiary of JMP Group

Brookfield strikes deal to buy 62% stake in Oaktree
Brookfield Asset Management has agreed to buy a 62% stake in Oaktree Capital Management in a move which will lead to the creation of one of the largest asset managers in the business.

Marathon proposes alternative to long-running Medley BDC merger dispute
Marathon has joined the race to take on two business development companies managed by Medley

Benefit Street affiliate BDC buys stake in ABL lender Siena
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 

Medley and Sierra fight back over NexPoint's "$225 million value" claims
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
Eldridge Industries has acquired a majority ownership position in the middle-market lender, buying an additional stake from Marnon co-founder Tom Gregory

$1.8 billion manager Shelton buys credit manager Cedar Ridge
The $1.85 billion multi-asset manager has bought credit-focused firm Cedar Ridge Partners

Axa IM looks to buy stake in mezzanine lender Capzanine
Axa Investment Managers (Axa IM), the multi-asset investor, and Axa France, the Paris-based insurance company, have entered exclusive talks to buy a minority stake in French private equity house and debt provider Capzanine, from Eurazeo

Investcorp adds ex-Anteil officials to run manager buy-out business
The new strategy will focus on acquiring up to 25% stakes in mid-sized alternative asset managers

LibreMax moves into CLO management with Trimaran acquisition
LibreMax Capital is set to buy US CLO manager Trimaran Advisors from Kcap Financial for $37.9 million

Axa IM buys US commercial mortgage business from Quadrant
Axa Investment Managers' real assets group has bought one of Quadrant Real Estate Advisors’ US focused lines of business, including a dedicated investment team, in a bid to expand its global debt platform.