Fund managers

The Barings, Benefit Street and Triangle transaction: 5 takeaways

Barings has set the stage for a turnaround of the BDC through a shareholder-friendly fee structure and a commitment to slowly building out a portfolio of privately originated senior loans – but it will take some time, analysts say.

AIMA calls for grandfathering provision in Brexit talks

A large number of potential issues face firms when the UK leaves the EU which could lead to chaos if not tackled.

Largest BDC platform is made official

FS Investments and KKR have closed the deal to create a new $18bn platform, wrapping together six BDCs.

WATCH: Why 12-15% return doesn’t seem right

Funds may be doing direct lending deals they are not comfortable with to try to achieve high returns. Andrew Jackson of Hermes urges caution in this two-minute video.

Fundraising boom continues in Q1

The limited partner demand that made 2017 a record-breaking year for private debt capital raising appears to have carried on into 2018.

BDC fees could be thrown into spotlight after changes in leverage statutes – updated

Additional leverage may mean higher fees for shareholders if BDC managers do not alter their fee structure.

AlbaCore beats target with €1.5bn close

The London-based fund manager has already drawn 70% of its debut fund, which had a €1.0bn target.

Vicenda looks for up to CHF 200m for debt in German-speaking countries

The Swiss asset manager’s maiden fund has begun marketing to new investors.

Barings to become TCAP external advisor for $235m; Benefit Street to pick up portfolio for $1bn

The triparty transaction would allow Barings to construct a senior debt-focused portfolio ‘from scratch’.

Direct lending posted 9% gross return for 2017: Cliffwater index

The industry benchmark showed an almost 10% gross return for the strategy since September 2004.