Asset manager PineBridge Investments closed PineBridge Private Credit III (Fund III) as part of the firm’s lower-middle-market direct lending strategy. Inclusive of fund-level leverage, the firm’s private credit team raised $1.7 billion of capital in Fund III.
According to the inaugural European private data insights and outlook report on the direct lending market from KBRA DLD, a division of KBRA Analytics, M&A activity returned in Q4/23 after a slow pipeline for most of the year.
Funds managed by Ares Management’s credit group closed approximately $10.1 billion in U.S. direct lending commitments across 78 transactions during Q4/23 and approximately $22.4 billion in direct lending commitments across 217 transactions in 2023 overall.
New Mountain Capital, which manages more than $35 billion across private equity, credit and net lease real estate, closed its latest direct lending fund, New Mountain Guardian III BDC, with approximately $1.15 billion of capital commitments from investors.
Golub Capital acted as left lead arranger, administrative agent and joint bookrunner on an $810 million syndicated loan facility to support the acquisition of Rough Country by TSG Consumer Partners and on a $425 million syndicated loan facility to support the acquisition of Confluence Technologies by Clearlake Capital.
Owl Rock Capital, an indirect subsidiary of Blue Owl Capital, appointed Jonathan Lamm CFO and chief operating officer, effective Sept. 1.
Hercules Capital, a specialty financing provider to venture, growth and established stage companies backed by venture capital and select private equity firms, has originated more than $1 billion year-to-date in annual total debt and equity commitments for the fourth consecutive year.
Funds managed by Ares Management’s credit group closed approximately $9 billion in commitments across 77 transactions during Q2/21 and approximately $21.8 billion in commitments across 221 transactions in the 12-month period ended June 30, 2021.
Antares closed 139 transactions totaling almost $11 billion in financing commitments to middle-market, private equity-backed companies in the first half of 2021.
Pemberton, a European private credit manager, hired Sanford (Sandy) Ewing as a new managing director for the firm’s business development team. Ewing will support Pemberton’s international expansion and joined the company to cover the North American region.