News

Bloomberg reported that Ares Management is working on launching a €20 billion ($21.9 billion) direct lending fund, which, according to Bloomberg, would potentially be “the biggest ever direct lending fund.”

White Oak Commercial Finance, an affiliate of White Oak Global Advisors, provided a $10 million senior factoring facility to a worker management software company.

Middle-market private companies in the Golub Capital Altman Index grew earnings by 16% during the first two months of Q4/23, marking the highest year-over-year earnings growth since Q2/21. Revenue for middle-market private companies grew 7% during the same period.

Trinity Capital originated $340.7 million of total new commitments in Q4/23, bringing the company’s total new commitments for 2023 to $830.7 million. Additionally, Trinity funded a company record $641.8 million of investments in 2023.

Alvarez & Marsal launched a life sciences business unit. Mark Freitas will lead the division and serve as managing director and life sciences practice leader.

B. Riley Securities served as lead left bookrunner to Diversified Healthcare Trust in its $941 million zero coupon senior secured notes offering. Diversified Healthcare Trust intends to use proceeds from the transaction to repay all of its outstanding debt maturing...

According to Deloitte’s Q4/23 CFO Signals survey, CFOs who rated the current North American economy favorably plummeted 10 points since the previous quarter to 47% from 57%. Net optimism for CFOs' own companies' financial prospects also fell.

The International Factoring Association named David J. Jencks, Esq. of Jencks Law, co-general counsel to the organization. IFA co-general counsel members play a role in ensuring legal compliance and protecting the interests of the association and its members.

Radio content company Audacy entered into a restructuring support agreement to reduce funded debt by $1.6 billion. In connection with the restructuring, Audacy filed for Chapter 11 bankruptcy and secured commitments from its existing lenders for $57 million in debtor-in-possession...

SSG Capital Advisors served as the investment banker to EFS Parlin Holdings in the sale of its interconnection rights to TigerGenCo, a developer, owner and operator of power generation and energy infrastructure projects.