Robin Blumenthal

The New York-based firm’s second multi-strategy credit fund is more than 45% invested, Private Debt Investor has learned.

The fund will invest in opportunities arising from covid-related economic disruption and market dislocation.

The vehicle targeting event-driven convertible instruments and relative value includes $685m of equity commitments.

There’s no shortage of Cassandras sounding the alarm over what some fear is the reckless printing of money by the Federal Reserve and other major central banks to try to shore up their economies in the face of the global pandemic, even as balance sheets and government debts continue to grow exponentially, writes Robin Blumenthal.

In accordance with the idea that size matters, a partnership between FS Investments and KKR, that manages two business development companies, has agreed to merge them.

BlackRock Capital Investment Corp. will retain its equity ownership of the asset-based lender, its largest portfolio company

The fund manager said liquidity pumped into markets by central banks has reduced the scope for distressed debt opportunities.

The former head of Goldman Sachs's private credit group in the Americas is charged with expanding the tech specialist’s fledgling credit business.

The 'custom mandate' has already invested more than 25 percent of its capital and is investing across various distressed strategies.

The fund is one of the largest ever for riskier subordinated debt.