News & Analysis

The credit fund manager held a first close last month and aims to close the vehicle within a year.

The vehicle is the firm’s largest fundraise yet and will focus on a combination of debt and equity strategies.

Jess Larsen of First Avenue charts the evolution from ‘idiosyncratic alpha’ to cost-efficient beta, and the impact this is having on fees.

The fund will operate as a business development company and is targeting $2.5bn.

The firm raised almost $32bn for its credit strategies, with leverage facilities included, the bulk of which came from Ares Capital Europe IV.

Mezzanine debt funds were the most popular private credit strategy in 2018, collecting more than $50bn, according to PDI data.

The new $45m bid comes after NexPoint Advisors made an offer for combining MCC into its sister BDC, Sierra Income Corporation.

Investors are not passive, but terms in the leveraged loan market are still weighted strongly against them.

The fund will invest in a variety of credit strategies in the UK and globally targeting a return of up to 7%.

An impressive number of nominations have already been gratefully received for our inaugural Private Debt Investor Rising Stars 2019. With the clock ticking towards the deadline of today, Thursday 14 February, at midnight PST, now is the final chance to act! To be eligible, nominees should be under the age of 40 on 1 April 2019. Nominations […]