Andrew Hedlund
The firm has grown quickly since it was founded a little more than three years ago and now has two BDCs that manage much of its capital.
Sophia Damianou, who will oversee business development for the region, joins the firm from a London-based hedge fund.
The BDC’s asset-based investments are targeting an unlevered gross return in the mid-teens, with commitments made in the first quarter to an aircraft leasing company and a mortgage lender.
The partnership will see a geographic mix across the US and Europe, which will let BBDC access investments with different levels of yield.
The firm also reported its first quarter earnings, which listed its largest portfolio ever at $2.15bn.
Many in private markets seem content with market conditions, but it wouldn’t take much for a temporary wobble to become a longer-lasting problem.
The borrower-friendly market was the source of many observations at the annual gathering of private equity professionals, private credit managers and service providers in those industries.
Niche strategies are starting to grow in popularity – a necessary counterbalance to the capital allocations piling up for mid-market direct lending, says Ari Jauho, co-founder and partner at Helsinki-based fund of funds manager Certior Capital.
The firm pushed its AUM up to $136.7bn on the back of another quarter of robust fundraising.
The firm is the latest in a string of private market money managers to make the change, citing an expected increase in its share liquidity.