John Bakie
The fund offers a mix of bank loans and long-term finance through a partnership with the wider BNP Paribas Group.
The deal could be one of the largest unitranche transactions ever arranged.
The deal will see Bridgepoint significantly increase its capabilities in private credit.
The hires will aim to grow ICG’s presence as a mid-market real estate lender across Europe.
The vehicle, which invests in NPLs already subject to insolvency, is Balbec’s first fund to break the $1bn mark.
The firm’s credit unit is led by former GSO technology specialist Scott Eisenberg.
The venture debt vehicle will lend up to £10m to loss-making companies that are fast-growing.
Debt managers that target both performing and non-performing corporate debt will be the focus of the fund.
The pandemic has put loan terms and documents in the limelight as markets keep an eye on how lenders manage their portfolios during the crisis.
The vehicle hopes to acquire undervalued performing loans as a result of the coronavirus pandemic.