Sam Sutton
The US private debt group issued $25.5m of senior notes to back the acquisition of Broadvox’s business services division by cloud communications company Fusion.
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The firm’s credit arm (Benefit Street Partners) raised $1.75bn for Fund III.
US deals averaged a 5.7x debt-to-EBITDA multiple in the two years leading up to the financial crisis.
Bankruptcy and distressed debt restructuring activity fell 6.8% from Q1 2013 totals.
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The Volcker Rule prohibits banks from sponsoring or having interests in certain CLO products.
Cyprium spun out of Cleveland-based regional bank KeyCorp in 2011.
The Washington, DC-based firm closed its debut fund on $80m earlier this year.
.jpg "Carlyle GMS returns 3% in Q1")
The GMS platform, led by Mitch Petrick, includes the firm's mid-market lending and distressed strategies.
Ares Management’s credit business positions the firm well for its upcoming public offering.
Graycliff’s $250m Mezzanine Fund II is less than 20% invested.