Anastasia Donde
The Philadelphia lender has provided a $55.5m senior credit facility for Emtec, which will refinance the company’s existing debt as well as support its acquisition of Summit Technology.
.jpg?id=12885345128 "Carlyle in first close on Asia structured credit fund")
The US alternative investment firm has raised $235.6m towards the $1bn goal for its debut Asia Structured Credit Opportunities Fund.
Medley Capital Corporation is lowering its management and incentive fees and restructuring the latter to include netting. The BDC is also ramping its share repurchase programme.
The date for TICC Capital Corp stockholders to vote on a sale of the investment manager to Benefit Street Partners has been set for 22 December.
The Los Angeles-based firm expects to hold a first close on its seventh mezzanine fund later this month on roughly half the $3bn target. The US firm also recently closed its first dedicated European fund at its €500m target.
Class-action lawsuits and shareholder criticism dominated the third-quarter earnings call as Fifth Street Finance Corp’s investment advisor faced fresh criticism over rising legal costs and falling earnings at the underperforming BDC.
.jpg?id=19327353638 "Värde to open New York, Tokyo and Sydney offices")
The US credit firm is expanding its Asian footprint on the heels of its acquisition of GE Capital’s Australian consumer finance unit. The firm also announced senior management changes.
Greg Bassuk, formerly chief operating officer at IndexIQ, will oversee the expansion and management of the Philadelphia firm’s Liquid Alternatives Strategies platform.
Once fashionable clothing brand Quiksilver has restructured its US business with the help of a debt-for- equity swap by Oaktree. Anastasia Donde reports
The protracted fight over TICC Capital Corp is ugly, but it may benefit the BDC industry if it airs some festering problems, writes Anastasia Donde