Anastasia Donde
.jpg "Orchard Platform starts marketplace lending database")
The online marketplace lending platform has launched a comprehensive database of global private loan information.
The firm is setting up an asset-based lending (ABL) business and fund, with the help of MidCap Financial, a healthcare-focused ABL lender Apollo acquired last year.
The Chicago lender has dropped litigation against Warren Woo and Breakaway Capital.
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The joint venture with New Hampshire-based Perspecta Trident will allow the credit manager to invest more in senior debt.
Both are first lien, M&A related investments in a New York-based tech company and a Scottish helicopter deck licensing company.
The BDC also had a busy quarter in terms of new originations.
The Chicago firm is targeting $600 million, with a hard cap of $750 million, for its Monroe Capital Private Credit Fund II.
The $127 million add-on deal includes a first lien senior secured term loan and a $7 million delayed draw term loan facility for the dental services company.
The $0.34 cents per share dividend will be paid to investors on 30 December, unless reinvested.
The direct lending group at Ares Management has scaled up over the years with noteworthy moves into Europe, new product lines, as well as bolstering its business through acquisitions. The firm’s executives in New York and Europe recently shared some of the thinking behind these initiatives with Anastasia Donde.