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Andrew Hedlund

LBOs under the microscope

On Fitch’s leveraged loan default watchlist, private equity-backed companies are well represented, but not beyond what one might expect.

Alcentra seeking $300m for third CLO-focused fund

The Bank of New York Mellon credit group’s debut fund focused on CLO mezzanine debt, while the second targeted CLO equity.

KKR BDC goes public with new fee, governance structure

The New York-based mid-market lender cut its management fee and instituted a lookback period to its incentive fee calculation formula.

Apollo names Kleinman, Zelter co-presidents

The appointments represent a recognition of the pair’s success rather than succession planning, a source close to the firm told PDI.

FSIC continues cutting back on equity holdings

The FS Investments-managed BDC holds equity positions in nearly 50 companies.

Why this is a fight that should be picked

As US Congress gets ready to reform the tax code, private credit and private equity firms will square off with elected leaders over a tax deduction that is crucial to both asset classes.

TCG BDC wants predictable dividend

Over 80% of the firm’s investments in the third quarter backed LBOs and acquisitions.

Commingled fund, SMAs allow LBC to hit hard-cap on Fund IV

The firm has set a management fee of 1.5% on invested capital along with a 20% carried interest fee over a 7% hurdle rate.

PDI New York forum: Private credit grows up

The asset class continues to make inroads with limited partners even as deal documentation deteriorates.

Triangle Capital undertakes ‘strategic review’

The mid-market lender cut its dividend by 33% and reduced its annual net investment income outlook.