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Blackstone’s GSO grows new direct lending platform with $2.6bn BDC raise

The firm may oversee more than $10bn of assets for the strategy a little more than a year after it formally parted ways with FS Investments.

Crescent BDC to acquire Alcentra Capital for $142m in cash, stock

Alcentra BDC shareholders will retain 19% of the combined entity, while the buyer will reduce its management fee and up its hurdle rate.

Goldman Sachs collects almost $900m for private BDC

The new vehicle has purchased several investments, all of which are portfolio companies of the firm’s publicly traded Goldman Sachs BDC.

BC’s credit platform makes another BDC play with OHAI purchase

BC Partners, which launched a credit arm more than two years ago, has made its second BDC purchase in less than a year.
jars of money

New Mountain Capital seeks $750m private BDC – exclusive

The investment manager’s latest product continues the firm’s strategy of lending to US mid-market companies.

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.
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.

The need to nurture permanent capital in Europe

Reasons for longer-term vehicles in private debt are growing, with one being the requirement to support businesses traditionally backed by banks.
piles of coins

Investcorp adds BDC manager to its stable

The firm has announced a definitive interest purchase agreement to obtain a majority share of CM Investment Partners.

TPG, Glendale Energy ink $500m JV for buying upstream assets

The partnership will allow TPG Sixth Street Partners to expand its energy strategy beyond providing loans to oil and gas companies.
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