Andrew Hedlund
.jpg "Oaktree Capital takes control of Molycorp successor")
The Los Angeles-based distressed debt shop turned its pre-bankruptcy debt into 92.5 percent of the reorganised business’ equity.
The New York-based collateralised loan obligation manager will also be launching a new fund in the first quarter of 2017 after a sale of the firm to FAB Partners largely removed uncertainty regarding the firm’s future.
Jim Failor, a hire that came from within the Sonoma County Employees’ Retirement System, told Private Debt Investor he had been a de facto CIO for several years.
As the private mid-market debt asset class grows, choosing the right lending partnerships and financing diversification are uppermost in the minds of some of the market’s leading operators.
The fund, which will pursue investment opportunities in the US and Europe, will likely hold a final close by year-end.
.jpg "Hunt stepping down from Kayne Anderson – exclusive")
Jim Hunt, the firm’s mid-market lending head, exited the Los Angeles-headquartered investment firm just eight months after joining.
.jpg "A better deal for borrowers")
Sources have told PDI that sponsors are seeking more favourable terms in credit agreements.
An advisor in court in June said a contribution from the two financial institutions to fund a restructuring proposal for Caesars Entertainment Operating Company was possible.
Lone Star purchased the mortgages at issue from the Department of Housing and Urban Development.
The Purchase, New York-based investment shop plans to roll separately managed accounts into a commingled distressed fund.