Anastasia Donde
The Oaktree spinout has gathered more money for its debut special situations fund. Eaton Partners is helping raise capital, according to an SEC filing.
Net income was down $506.9m in the first quarter, but the firm continued to grow assets, including new commitments to special situations, mezzanine and direct lending funds.
The boutique investment bank worked with the credit manager on the sale of four CLOs to Fortress. Hildene has now shut down its CLO business.
The US pension fund has awarded $20m each to Beach Point Capital Management and Voya Investment Management for its opportunistic credit brief, after interviewing five firms.
Predictions about increased defaults, restructurings and bankruptcies in the US are coming true. While this is creating opportunity, trend followers should be careful.
Blackstone’s credit group reported declining revenues in Q1 as low energy prices hit some of its strategies. However, the firm said it was seeing increased opportunities in the distressed and mezzanine sectors.
The insurance holding company has purchased an undisclosed minority interest in the California direct lending firm and plans to invest $250m in its funds.
The State of Wisconsin Investment Board, which lends directly to local companies, plans to focus on senior debt and shorter maturities this year.
The investor plans to hire a firm for a European direct lending mandate of $20m-$30m.
Steven Purdy has joined the firm in Los Angeles as a managing director. He was previously with TPG Special Situations Partners in London.