The UK-based firm has posted a first close of its inaugural pan-European fund and is targeting €2bn of assets under management by the end of 2020.
With the hires of Meg McClellan and Michael Apfel, respectively, the two firms are putting further emphasis on credit products.
The merger would, as of the end of the third quarter, produce a BDC with investments and commitments of $3.25bn.
The transaction is just the latest in a string of mergers that are slowly reshaping private credit.
Rakesh Jain will help lead the firm's expansion in private credit primaries, secondaries, co-investments and special situations.
Owl Rock Capital Partners, private equity, lending, business development, technology, Silicon Valley, venture capital, Menlo Park
The direct lending firm is expected to also launch its next general business development company in 2020.
The region’s fund managers are gaining ground and have reached a new high point in this year’s PDI 50.
Real assets are a large but often hidden part of the private debt world.
The sector has been at the heart of private debt’s emergence as an asset class to be reckoned with. Investors remain committed, but there may be risks.
There is change throughout the ranking, including at the top, as private debt's biggest fundraisers rake in unprecedented amounts of capital.

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