Anastasia Donde

Stuart Aronson, GE Capital’s global head of sponsor finance, is set to leave at the end of the year and is said to be considering a move to another lending firm.  

The hedge fund firm owns an 8.4 percent interest in American Capital and has advised shareholders to vote against the planned spin-out, saying it’s unlikely to create value for stockholders.  

The firm is opting to close the hedge fund it launched the business with and focus on longer-dated debt strategies instead.  

The alternative investment firm saw revenues fall steeply on the back of mark-to-market unrealised losses in Q3. At the same time, the asset manager grew assets almost 15 percent from September 2014, including a second close on its European direct lending fund and healthy performance in DL strategies.  

The $184 billion pension fund has created a $200 million credit programme for small businesses in the state. Hamilton Lane, which already runs an in-state private equity program with the pension fund, will advise on deals, while several banks will provide leverage.

The $2.5bn California pension fund has invested $50m apiece in direct-lending funds managed by Crestline Investors and White Oak Global Advisors.

Faraaz Kamran, managing director and head of healthcare leveraged finance at Madison Capital Funding, left the firm this week.  

Franklin Square’s public BDC posted weaker earnings in Q3 after several closings were delayed.  

The BDC continued to post falling revenues and assets in its Q3 earnings report and management declined to discuss the planned sale and rival bids for the firm.

Management of the Apollo Investment Corporation has so far bought back $21.2 million of shares through its $50 million stock repurchase programme, at a time when the BDC has been posting losses on the back of struggling oil & gas investments.