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Second lien lenders may recover less than 9% in energy Chapter 11 cases

Ascent Resources Marcellus Holdings and Fieldwood Energy sought court protection with less than a week and a half of each other.

Korea’s POBA mandates three US managers

The Korean public pension fund has committed $150m across Golub Capital, Ares Management and Antares Capital.

Ares becomes first listed alternatives manager to convert to a C-corporation

The firm has also set a new dividend policy with the potential for special dividends when performance fee income is particularly elevated.

Ares, Varagon beef up senior debt investment vehicle

The winddown of Ares’ Senior Secured Loan Programme allowed it to commit additional funds to the current effort with Varagon.

GSO now biggest contributor to Blackstone AUM

Blackstone managed $434.1bn in assets at the end of 2017, of which credit constituted almost $140bn.

Patriot National files for bankruptcy; reorg would wipe out PennantPark BDC shareholders

Private credit managers hold both debt and equity in the debtor.

Monroe sets $1.5bn hard-cap for debut special situations fund – exclusive

The strategy will be led by Monroe’s BDC portfolio manager and a former managing partner of Melody Capital Partners, which focuses on opportunistic credit investments.

Madison Capital vet to lead firm as part of succession plan

The mid-market lender joins the ranks of Apollo, Ares, Carlyle and others who have announced their future leadership plans over the last year.

Comvest secures more than $800m for mid-market companies

The firm will look to deploy the capital across a relatively benign credit market.

Hire wrap-up: Alcentra, CIFC, BNP Paribas and Angelo Gordon

Four firms have made recent additions to their senior management personnel.