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Owl Rock closes above IPO pricing on initial day of NYSE trading – updated

The business development company will charge a 1.5% management fee and a 17.5% incentive fee over a 6% hurdle rate post-offering.
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Bank pullback is fueling emerging markets direct lending

The strategy has experienced a spike in fundraising, and market players don’t think that will slow down anytime soon.

Europe ventures into the unknown

The continent looks set to follow in the footsteps of the US as venture lending gathers steam, but challenges lie in wait.
Lawyer

Former Hercules CEO to receive $11.5m severance package

Manuel Henriquez, also the venture debt lender’s former chairman and founder, stepped down after prosecutors charged him with taking part in a college admission bribery operation, to which he pleaded not guilty.

Who raised the largest funds in H1 2019?

The period was dominated by distressed funds, with Lone Star demonstrating its pulling power with two of the biggest vehicles.

LACERS will commit to two new credit managers

The pension fund approved $100m contracts with Benefit Street Partners and Alcentra Limited after a nine-month search.
Flag of Ireland

Beechbrook secures €35m for Irish SME fund

The firm’s first Irish fund will operate out of Cork and Dublin to back high-growth companies in the country’s regions.
China

Regulator helps banks muscle into Chinese SME credit

A favourable lending environment for small and medium-sized enterprises may pose questions for private funds looking to exploit the corporate funding gap in China.
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Dyal’s new credit vehicle: a look under the hood

A look at the debt fund's loan terms, expected performance and opportunity set.

Värde names Carstairs as co-CEO

The appointment will aid founder George Hicks’ shift to the executive chair role in 2022.
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