Steve Gelsi
An off-balance sheet loan program coming into wider use has been providing a partial work-around to the one-to-one debt-to-equity ratio cap for business development companies, according to BDC executives.
Monroe Capital has closed Monroe Capital BSL CLO 2015-1 at $412 million, marking the Chicago firm’s first debt securitization deal secured mostly by broadly syndicated loans.
Cortec Group, which focuses on small U.S. and Canadian buyouts in three targeted sectors, closed its sixth fund on its $1.1 billion hard cap in just two months.
Cortec Group, which focuses on small U.S. and Canadian buyouts in three targeted sectors, closed its sixth fund on its $1.1 billion hard cap in just two months.
Aberdeen Asset Management will add U.S. and Asia exposure to its private equity platform, as well as a favorable view toward co-investments, in its pending acquisition of Flag Capital Management, the head of alternatives for the U.K.-based asset manager said.
Mesirow Financial reached $614 million for Mesirow Financial Private Equity Partners Fund VI LP, the Chicago firm’s fund-of-funds vehicle that initially launched in 2010, according to a filing.
Colt Defense LLC failed to make a $10.9 million interest payment on its unsecured notes, moving it closer to bankruptcy, following a steep drop in revenue at the gunmaker.
Remington Outdoor, the company that manufactured the Bushmaster rifle used in the fatal shootings of 26 people in Newtown, Conn., in 2012, is offering to buy out limited partners in a transaction that will result in Cerberus Capital Management funds exiting the firearms maker, according to a source.
Just as they had to learn the ins and outs of Dodd-Frank, U.S.-based GPs that want to market to European LPs need to become familiar with the AIFMD.
Five publicly traded private equity firms pulled in billions for their fundraising efforts in the first quarter, but when it came to spending, they held back, largely due to high U.S. deal prices.