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Shareholders approve new leverage limits for TPG BDC
5 years ago
Shareholders for TPG Speciality Lending have approved the decision to decrease minimum asset coverage ratio to 150%, following an 8 October vote -
Bain looks to go public with $1.3 billion BDC
5 years ago
Boston-based Bain Capital Credit is going public with its $1.3 billion business development company with an initial public offering -
BDCs find variety of routes to higher leverage but remain cautious of two-times limit
5 years ago
Business development companies have been granted flexibility by US regulators, but there seems to be little consensus on the best way to take advantage -
Mid-market CLO managers can escape risk retention with business development co, SEC confirms
5 years ago
Middle market managers issuing CLOs can escape risk retention requirements through a business development company, according to a no-action letter from the SEC to Golub Capital -
Goldman's BDC receives 95% shareholder approval for leverage increase
5 years ago
Following recent regulatory changes, the $1.23 billion Goldman Sachs BDC has received a 95% shareholder approval to raise its debt to equity ratio from a one-to-one to a two-to-one ratio -
FS and KKR merge BDCs to create second-largest publicly traded BDC
5 years ago
FS Investments and KKR Credit yesterday agreed to merge FS Investment Corporation (FSIC) and Corporate Capital Trust (CCT), in a move that has created the second largest publicly-traded BDC behind Ares Capital Corporation -
BlackRock expands US private debt capabilities with TCP acquisition
6 years ago
BlackRock has agreed to acquire $9 billion asset manager Tennenbaum Capital Partners -
Oak Hill BDC's assets continue to nosedive as board explores options
6 years ago
As it continues to bleed assets, Oak Hill Advisors’ direct lending business development company (BDC) has jettisoned the last of its energy assets -
CLO investor TICC rebrands as Oxford Square
6 years ago
TICC Capital has changed its name to align its branding more closely with its affiliates -
Ares and Varagon expand direct lending JV to $6.4 billion
6 years ago
Ares Capital and Varagon have expanded their joint venture’s investment capacity by $3.5 billion -
TCW seeks to ramp up potential BDC
6 years ago
TCW is ramping up a new fund that intends to operate as a business development company (BDC) – having just hired a TCW affiliate as investment advisor and manager -
Antares teams up with Bain for direct lending after LStar JV ends
6 years ago
The joint venture, to be named the Antares Bain Capital Complete Financing Solution, replaces Antares’ previous unitranche product, Middle Market Growth Program -
AB reports highest AUM since 2008 as it launches BDC
6 years ago
The firm generated total net inflows of $4.5 billion for the quarter, a big improvement from the $15.3 billion in the outflows in last year’s third quarter -
US manager taps ex-Credit Suisse chiefs to spearhead direct lending unit
6 years ago
The former co-heads of middle-market lending at Credit Suisse are spearheading a new US direct lending business -
Recent start-up Freedom 3 sets up mid-market JV with KCap
6 years ago
New York-based mid market lender Freedom 3 has set up a joint venture with KCap Financial, the listed parent company of credit managers Trimaran Advisors and Katonah Debt Advisors -
Oaktree takes over Fifth Street’s BDCs
6 years ago
Oaktree Capital has won the auction to take over Fifth Street Asset Management’s two business development companies -
Hercules backs off from contract switch amid investor revolt
6 years ago
Hercules Capital has cancelled a planned shareholder meeting in which it was seeking approval for a controversial switch from internal to external management -
Owl Rock adds new direct loans, taking BDC to over $1 billion
6 years ago
Owl Rock Capital has continued to make rapid progress in ramping up its private business development company, one of the biggest debut mid-market debt funds of recent years -
Investors dump venture lender Hercules on plan for external manager
6 years ago
Shares in publicly traded business development company Hercules Capital fell sharply last week, after the company announced that it was switching from being managed internally to employing an external advisor -
Former Apollo CIO quits troubled Fifth Street after four months
7 years ago
Fifth Street Asset Management announced yesterday that it has parted company with a founder partner of Apollo Global Management, brought in late last year as part of a shake-up at the company -
BDCA and Fifth Street officials join forces for new BDC launch
7 years ago
Former Business Development Corporation of America CIO teams up with Fifth Street CFO for new launch -
Apollo sells two CLO positions from its BDC after 21%-plus returns
7 years ago
Apollo Global Management has reduced the structured credit exposure it held in its business development company -
Carlyle eyes growth in CLOs and direct lending after Claren Road sale
7 years ago
Carlyle Group has confirmed the sale of its 63% stake in credit hedge fund manager Claren Road Asset Management back to the founders of the firm -
Start-up credit manager surpasses $2 billion in AUM in its first year
7 years ago
Owl Rock Capital Partners appears to have pulled off one of the most successful fundraising exercises of 2016 with regulatory filings indicating that the firm has earned commitments of $2.3 billion -
Goldman Sachs makes progress on ramping $1 billion mid-market fund
7 years ago
Goldman Sachs has made progress in ramping up a recent mid-market loan fund, according to recent regulatory filings
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