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TCPC to lower fees when it increases leverage

The BDC will lower its incentive fees and hurdle rate next year to stay “fee-friendly”.

Audax Credit raises over $850m across direct lending strategy

Its vehicle will be used to invest in mid-market companies across North America through senior secured first- and second-lien loans.

Performing credit investors getting lower returns – Oaktree’s Marks

Oaktree co-founder Howard Marks tells PDI that it is hard to achieve an adequate return in such a ‘hot market’.

OCP Asia garners $500m for Fund III

The credit manager’s latest closed-end Asia-Pacific vehicle is double the size of its predecessor.

Sub-par is good for golfers, not investors

The same forces that gave rise to direct lending also caused marketplace lending to grow. Now the latter is experiencing compressed returns. Andrew Hedlund reports

Credit investors flock to Asia despite low compensation

Among other concerns are duration risk and weakening covenants

Why more Japanese investors are demanding real asset loans

These institutions prefer floating rate-based loans to mitigate foreign currency hedging risks.

EXTENDED INTERVIEW: Banks lending to B-rated credits is not sustainable

PDI talks to Jürgen Breuer, head of origination for Austria, Germany and Switzerland at Pemberton, about bank lending in the region.

Ares closes European direct lending fund at €6.5bn hard cap

The fund has well over 100 investors and could lend up to €10bn with leverage.
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Alcentra makes three hires for direct lending team

The three new roles will enable Alcentra to expand its execution capabilities in France, Italy and Spain.

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