Andrew Hedlund
The firm’s 10th fund has locked down a record amount of capital, at $1.76bn.
In a survey of professionals ranging from lawyers to bankers, distressed debt and reorganisation professionals anticipate retail and oil and gas as the sectors facing the most financial difficulties.
It is hard to believe commercial banks will come rushing back into the mid-market, despite a probable rollback of financial regulations in the US.
The new alternative lender launched by Andrew Moser and two colleagues is just one of the latest firms to launch as the private debt asset class grows.
The private credit luminary will leave the firm's investment committees he currently sits on.
The business development company originated $113.6m over the fourth calendar quarter.
One of the New York-based investment bank’s non-traded BDCs made its largest commitment through a first lien, last out unitranche loan.
The transaction with American Capital caps off a sale process that began in January of last year.
Four mid-market lenders are seeking additional funding, several through raising capital and another couple through debt securities.
Fitch Ratings predicts large managers with risk retention compliance procedures in place will do well next year.