Dechert compares LP-led CFOs with GP-led structures, examining differences in portfolio construction, tax treatment, transfer mechanics, GP consent, and rating agency requirements.
"The Cox Capital Offer appears designed to transfer value from BCRED shareholders to Cox Capital and its investors," according to a Board recommendation viewed in EvergreenLink's Notice Board.
The combined $25 million program prices ADS and ASIF shares at 14.6% and 13.4% discounts to August NAVs respectively, after both funds again capped repurchases.
Troutman Pepper examines the key legal and structural considerations lenders should assess in private credit continuation fund transactions.
The deal will transfer investments across 78 portfolio companies, representing approximately 48% of BlackRock TCP Capital's debt portfolio by fair value.
The oversubscribed rated structure is split evenly between US and Asian private-market strategies.
StepStone Credit Opportunities Fund II, which focuses on secondaries and co-investments, is 2.6x the size of its 2022 predecessor.
Institutional Link highlights key characteristics of the North Haven Strategic Credit Fund, which will operate as a non-diversified interval fund.
The recently registered interval vehicle, offering 7.5% periodic liquidity, will target credit investments across multiple strategies, including secondaries.
We look at GIPC, outlining the investment strategy, share structure, and other details of Guggenheim's BDC.
