Marathon Asset Management closed its Marathon distressed credit fund, which was oversubscribed with approximately $2.5 billion in commitments. The fund will pursue opportunities such as restructurings, debtor-in-possession financings and exit financings.
Onex Corporation and Onex Credit appointed Conor Daly to lead its European CLO platform. Daly joined Onex Credit from BlackRock, where he was a portfolio manager in the European fundamental credit team. He will begin at Onex Credit in April.
Onex Corporation acquired Falcon Investment Advisors, a U.S. private credit manager. The combined platform will merge Falcon’s specialized private credit investing with the investment and origination capabilities of Onex Credit and the broader Onex franchise.
Owl Rock Capital Group and the Dyal Capital Partners division of Neuberger Berman Group entered into a definitive business combination agreement with Altimar Acquisition Corporation to form Blue Owl Capital, an alternative asset management firm with more than $45 billion in assets under management.
Empire Holdings and Investments entered agreement in principle for a $100 million commitment by Kennedy Lewis Investment Management through a senior secured first lien delayed draw term loan facility and an approximately 51% common stock investment.
Harvest Capital Credit (HCAP) and Portman Ridge Finance (PTMN) entered into a definitive agreement under which HCAP will merge with and into PTMN, a business development company managed by Sierra Crest Investment Management.
Apollo Investment Corporation extended the final maturity of its senior secured revolving credit facility by approximately two years. JPMorgan Chase, Truist Securities, BMO Capital Markets and MUFG Union Bank are joint bookrunners and joint lead arrangers on the facility.
PGIM Private Capital completed fundraising for PGIM Capital Partners VI with capital commitments of $2.23 billion.
Thoma Bravo, a private equity investment firm focused on the software and technology-enabled services sector, supported Zipari’s combination with Healthx through an investment valuing the company at more than half a billion dollars.
LBC Credit Partners has a history of working in the middle market, but by creating two separate yet complementary investment strategies, it has developed an active pipeline in the lower middle market as well. Don Rice of LBC Small Cap explains the origins of the business unit as well as its approach and symbiotic relationship with LBC Credit Partners overall.