CLO

One in Three People in the U.S. Now Receive Digital Services through OpenGov Software

Retrieved on: 
Wednesday, January 31, 2024

SAN FRANCISCO, Jan. 31, 2024 /PRNewswire/ -- OpenGov, the leader in modern cloud software for U.S. cities, counties, special districts, and state agencies, closed another record-breaking year, achieving a 76 percent year-over-year (YoY) increase in gross new sales in Q4 2023. The company now serves over 1,800 state and local government agencies including Los Angeles, Baltimore, Seattle, Orlando, Fla.; York, Pa.; Plano, Texas, and many more.

Key Points: 
  • The company now serves over 1,800 state and local government agencies including Los Ang eles , Baltimore , Seattle , Orlando, Fla .
  • I've never felt more excitement across [OpenGov] or in the market.
  • In total, one in three Americans are now benefiting from OpenGov solutions used by their state and local governments.
  • OpenGov's significant investments in product development and best-in-class professional services have driven high product adoption across its five suites.

Hardman & Co Research on Volta Finance Limited (VTAS): Insights from the Report and Accounts

Retrieved on: 
Tuesday, January 30, 2024

In this note, we review the key information and messages investors should take from the recent Report and Accounts .

Key Points: 
  • In this note, we review the key information and messages investors should take from the recent Report and Accounts .
  • In particular, we note the detailed explanations as to how Volta is delivering strong returns.
  • In terms of outlook, the expected relative resilience of the portfolio was also noted.
  • By way of example, the CLO managers in which Volta invests, are expected to mitigate the impact of anticipated market-wide lower recoveries through investing in better-quality underlying assets.

Oxford Lane Capital Corp. Announces Net Asset Value and Selected Financial Results for the Third Fiscal Quarter and Declaration of Distributions on Common Stock for the Months Ending April, May, and June 2024

Retrieved on: 
Friday, January 26, 2024

We provide information relating to Core NII (a non-GAAP measure) on a supplemental basis.

Key Points: 
  • We provide information relating to Core NII (a non-GAAP measure) on a supplemental basis.
  • This measure is not provided as a substitute for GAAP NII, but in addition to it.
  • Our non-GAAP measures may differ from similar measures by other companies, even in the event of similar terms being utilized to identify such measures.
  • The following table provides a reconciliation of GAAP NII to Core NII for the three months ended December 31, 2023:

Imperative Care Announces Four Senior Leadership Appointments

Retrieved on: 
Monday, January 29, 2024

“This is an inflection point of operational scale and excellence for Imperative Care, and we are thrilled to have Chuck lead this important mission,” said Fred Khosravi, Imperative Care’s CEO and Chairman.

Key Points: 
  • “This is an inflection point of operational scale and excellence for Imperative Care, and we are thrilled to have Chuck lead this important mission,” said Fred Khosravi, Imperative Care’s CEO and Chairman.
  • Daniel will continue his important contributions to the future of patient care with his resolute dedication to meaningful innovation.”
    As an accomplished executive leader, Chuck Alpuche brings more than 40 years of senior operational expertise.
  • Prior to joining Imperative Care, he served as the Executive Vice President and COO of Insulet Corporation (NASDAQ: PODD).
  • Peter Griffin joins Imperative Care as a seasoned operations leader with more than 35 years of manufacturing, strategic supplier management, and product development experience.

TCW Launches New Asset-Backed Finance Business

Retrieved on: 
Thursday, January 25, 2024

The TCW Group, a leading global investment firm with over $200 billion of assets under management, announced today the launch of a dedicated Asset-Backed Finance (“ABF”) business that will be anchored with over $1 billion in capital commitments from TCW, partners, and affiliates.

Key Points: 
  • The TCW Group, a leading global investment firm with over $200 billion of assets under management, announced today the launch of a dedicated Asset-Backed Finance (“ABF”) business that will be anchored with over $1 billion in capital commitments from TCW, partners, and affiliates.
  • Dylan Ross joined The TCW Group earlier this month as a Managing Director and Portfolio Manager to lead the asset-backed finance investment efforts.
  • Mr. Ross brings to TCW almost 20 years of experience in alternative credit investing with a primary focus on structured credit and asset-backed finance.
  • “Our new asset-backed finance team will complement our existing securitized business and drive synergies across the platform.”

Churchill Asset Management Completes $400 Million Middle Market CLO Offering

Retrieved on: 
Thursday, January 25, 2024

Churchill Asset Management LLC, an investment specialist of Nuveen that provides customized financing solutions to U.S middle market-focused private equity sponsors and their portfolio companies, today announced the closing of a $400 million middle market collateralized loan obligation (“CLO”), Churchill MMSLF CLO III, on January 24, 2024.

Key Points: 
  • Churchill Asset Management LLC, an investment specialist of Nuveen that provides customized financing solutions to U.S middle market-focused private equity sponsors and their portfolio companies, today announced the closing of a $400 million middle market collateralized loan obligation (“CLO”), Churchill MMSLF CLO III, on January 24, 2024.
  • The transaction represents the third CLO that Churchill priced in 2023 and the eighth outstanding CLO under management, bringing CLO assets under management to approximately $3.5 billion.
  • “We are pleased to build upon Churchill’s 17-year track record as a leading middle market asset manager with the successful closing of this transaction,” said Kelli Marti, Churchill’s Head of CLO Management.
  • “Both the outstanding support from new and existing investors as well as the competitive pricing achieved were a testament to investor confidence in our time-tested investment approach and CLO management expertise.

KBRA Releases Research – Private Credit: Potential for European MM and Direct Lending CLOs

Retrieved on: 
Thursday, January 25, 2024

KBRA UK (KBRA) releases a report on the potential for European middle market (MM) and direct lending collateralised loan obligations (CLO).

Key Points: 
  • KBRA UK (KBRA) releases a report on the potential for European middle market (MM) and direct lending collateralised loan obligations (CLO).
  • KBRA has observed increasing momentum in the formation of a European middle market, including CLOs and other direct lending vehicles, amid the rapid expansion of global private credit.
  • In addition, European private equity and alternative credit managers continue to raise more direct lending funds dedicated towards this segment of the market.
  • The European private credit market represents 27% of the USD1.7 trillion global private credit market, according to Preqin.

Hildene Capital Hires Jason Schechter as Head of Capital Markets

Retrieved on: 
Tuesday, January 16, 2024

Hildene Capital Management, LLC (“Hildene”), a $14.7 billion credit-focused asset manager, today announced the hiring of Jason Schechter as Head of Capital Markets.

Key Points: 
  • Hildene Capital Management, LLC (“Hildene”), a $14.7 billion credit-focused asset manager, today announced the hiring of Jason Schechter as Head of Capital Markets.
  • Previously, Schechter served as Global Head of CLO Trading and Co-Head of CLO Origination at UBS, where he was responsible for restarting the CLO origination effort.
  • Schechter spent the majority of his career at Lehman Brothers, most recently serving as Global Head of CLO Trading and Origination.
  • Schechter reports to Brett Jefferson, Hildene’s President and Co-Chief Investment Officer, and Dushyant Mehra, Hildene’s Co-Chief Investment Officer.

Saratoga Investment Corp. Announces Fiscal Third Quarter 2024 Financial Results

Retrieved on: 
Tuesday, January 9, 2024

Since Saratoga Investment took over the management of the BDC, $917.0 million of repayments and sales of investments originated by Saratoga Investment have generated a gross unlevered IRR of 15.7%.

Key Points: 
  • Since Saratoga Investment took over the management of the BDC, $917.0 million of repayments and sales of investments originated by Saratoga Investment have generated a gross unlevered IRR of 15.7%.
  • As compared to the quarter ended August 31, 2023, total investment income grew by $0.8 million, or 2.3%, from $35.5 million.
  • Total expenses for the third fiscal quarter 2024, excluding interest and debt financing expenses, base management fees and incentive fees and income and excise taxes, increased from $2.1 million to $2.3 million as compared to the second fiscal quarter 2024, and increased from $2.1 million from the quarter ended November 30, 2022.
  • Net investment income yield as a percentage of average net asset value (“Net Investment Income Yield”) was 15.7% for the quarter ended November 30, 2023.

Credo Technology Group Names Kate Schuelke as New Chief Legal Officer

Retrieved on: 
Tuesday, January 9, 2024

Credo Technology Group Holding Ltd (Nasdaq: CRDO) (“Credo”), an innovator in providing secure, high-speed connectivity solutions, today announced that Kate Schuelke will join Credo as Chief Legal Officer (CLO) and Corporate Secretary on January 26, 2024.

Key Points: 
  • Credo Technology Group Holding Ltd (Nasdaq: CRDO) (“Credo”), an innovator in providing secure, high-speed connectivity solutions, today announced that Kate Schuelke will join Credo as Chief Legal Officer (CLO) and Corporate Secretary on January 26, 2024.
  • Ms. Schuelke brings more than 30 years of legal technology industry experience to Credo, having most recently served as CLO of Seagate Technology LLC where she oversaw all legal functions, including the global security and government relations teams.
  • View the full release here: https://www.businesswire.com/news/home/20240109154605/en/
    Credo Technology Group Holding Ltd (Nasdaq: CRDO) today announced that Kate Schuelke will join Credo as Chief Legal Officer (CLO) and Corporate Secretary on January 26, 2024.
  • Ms. Schuelke brings more than 30 years of legal technology industry experience to Credo, having most recently served as CLO of Seagate Technology LLC where she oversaw all legal functions, including the global security and government relations teams.