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PDI Staff Writer

The vehicle committed over $968m so far this year and expects to surpass $1.1bn by year’s end.
Its vehicle will be used to invest in mid-market companies across North America through senior secured first- and second-lien loans.
Data from the Deloitte Alternative Lender Deal Tracker shows activity has dropped slightly, but private debt continues to gain traction in Europe.
The mid-market investment vehicle began its shift away from more arcane investments to traditional corporate term loans.
The vehicle, managed by Darby Overseas Investments, will be used to invest in mid-market companies with at least some of their revenue in US dollars.
Prudential Capital Group and Credit Suisse are setting their sights on the region, but volatility and ‘non-linear’ growth are challenges.
The company has a service agreement with BC Partners’ credit arm and will focus on senior secured loans to companies with $10m-15m EBITDA.
The firm is targeting an unknown amount for Crescent European Specialty Lending Fund II, which officially started fundraising on 9 September, according to SEC filings.
The investment committee will vote tomorrow at its monthly meeting to potentially invest in the Brookfield Senior Mezzanine Real Estate Finance Fund.

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