Opalesque Industry Update - Alternative credit shop Owl Rock has launched a new middle market direct lending fund with the University of California Regents fund, Reuters is reporting. Both parties have each committed an initial US$100m in equity capital, according to a June 22 regulatory filing. The fund will be an evenly split joint venture between the two entities and will invest in senior secured loans that are made to middle market companies or in broadly syndicated loans. Owl Rock will be taking part through one of its business development companies (BDCs). Between April 1, 2017 and June 16, 2017, Owl Rock funded US$629.7m in commitments. |