Anastasia Donde
.jpg?id=19327366475 "TPG Special Sits and CIT launch commercial finance JV")
The new venture will have a target size of $500 million and provide financing to US companies across a variety of industries.
Joshua Baumgarten will become a senior managing director and partner at the alternative investment firm and oversee credit across all of the firm’s debt strategies.
The California pension fund is investing in two of Alcentra’s credit funds and expanding Partners Group’s existing mandate to include private debt and infrastructure.
Texas-based JTS Capital Group has appointed Carl Chaney to focus on new loan acquisition and portfolio management.
The CapitalSpring Fund VI is raising $500 million and focusing on branded franchise restaurants.
.jpg?id=19327364856 "Ares Capital lands largest deal with American Seafoods")
The $800 million financing is the largest that the BDC has yet led. The first and second lien debt is being syndicated among 30 lenders and used for recapitalisation of the seafood company.
NEPC, the pension fund’s consultant, has posted an RFP soliciting a direct lending manager to handle a $10 million mandate.
.jpg?id=12885335662 "THL Credit cuts costs on ING credit line")
The price on the term loan facility has been reduced by 50bps, while the maturity was extended by two years.
The Chicago-based firm is initially providing a $50 million senior secured loan to Channel Partners and plans to scale that investment over time.
Fifth Street Asset Management made its first share repurchases under an approved programme, while a similar plan for its largest underlying BDC hasn’t started yet. Its BDCs continue to trade below book.