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The purchase comes as other US-based managers have launched Asia-focused funds, including those that have been in the region for some time.
Unitranches, mid-market CLO issuance and leverage are all topics that could be big in the new year.
The New York-based asset manager has raised the capital through a fund and separately managed accounts.
The transaction is just the latest in a string of mergers that are slowly reshaping private credit.
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.
Luxembourg debt funds continue to grow, albeit at a slower pace, in 2019 as direct lending popularity surges.
Investors at PDI’s annual London conference voiced appreciation for managers that have been in the trenches and have the battle scars to show it.
The Hong Kong-headquartered firm is back in the market with its Pan-Asia direct lending fund series.
Mid-market loans and senior tranches in structured credit are two of the most attractive sub-sets for Japanese LPs seeking a ‘mid-risk, mid-return’ asset class.

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