Chris Janiec
The ratings agency reiterated its negative outlook for BDCs despite some positive developments reported during the first quarter.
PDI has learned that Riverstone Holdings recently reached a final close of $500 million on its energy credit fund.
The Philadelphia-based credit firm is targeting $600m total for the lending fund according to an SEC filing.
The Los Angeles-headquartered BDC out earned its dividend during the first quarter, which saw a $37 million increase in new commitments from the previous quarter.
The Los-Angeles based alternative investment firm is exploring potential deals in the CLO space as it takes the long view on recent market turbulence.
.jpg "Lending Club announces CEO’s resignation")
Turmoil at the online lending company has amplified fears for the fledgling industry.
.jpg "Medley BDC braves headwinds")
Medley’s BDC struggled against headwinds in the first quarter, maintaining its $0.30 dividend despite reporting NOI of just $0.26 per share.
Robert “Bo” Stanley took up the new role, while the BDC also spoke of decreased origination volume in the first quarter.
ARCC executives said they are pleased with the BDC’s performance amid a challenging environment and optimistic about prospects for their Varagon JV.
Settlement talks with federal government weigh on performance for the hedge fund firm, which is eyeing expansion into European CLOs.