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Investors in the Fund, which were a mix of numerous new investors as well as existing New Mountain Net Lease investors, include pension funds, insurance companies, asset managers, endowments, family offices and high net worth individuals.
Oak Hill Advisors (“OHA”) served as a Lead Arranger for the unitranche financing to fund Bain Capital Private Equity’s (“Bain Capital”) acquisition of Harrington Industrial Plastics (“Harrington”) from Nautic Partners.
Laura Benitez and Nishant Kumar of Bloomberg report hedge funds draw pension money to riskiest corner of a $1.3 Laura Benitez and Nishant Kumar of Bloomberg report hedge funds draw pension money to riskiest corner of a $1.3 trillion credit market: A high-stakes trade in the riskiest corner of a $1.3
Importantly and atypically, over half of our Q1 debt brokerage dealflow was on non-multifamily assets in retail, hospitality, industrial, and office. Our clients need capital, and our debt brokerage team did a fantastic job finding the appropriate capital for their needs. They have done this in the past and are doing this today.
Fourth quarter FAD funds available for distribution of $0.64 billion in credit facility borrowing capacity and are well positioned to pay off our April 1, $400 million bond maturity and fund new investments. billion in debt was at fixed rates and our net funded debt to annualized adjusted normalized EBITDA was 4.96 times and 1.15
We're committed to getting these right, and we look to self-fund the necessary investments to do so. At the end of the quarter, we had nearly $22 billion in total reserves with a reserve-to-funded loan ratio of approximately 2.8%. And we remain well reserved with a reserve-to-funded loan ratio of 8.2% Turning to the quarter.
Paula Sambo of Bloomberg reports Canada pension fund's credit head wants to take advantage of leveraged buyout boom: Canada’s largest pension fund plans to nearly double the size of its credit holdings over the next five years, and it’s counting on an upturn in leveraged buyouts to generate some of that growth. There’s pent-up demand.
I found this to be just a masterclass in everything you need to know about distressed credit investing, private credit, the role of the economy, the fed interest rates, inflation, bottoms up, credit picking, and how to manage a firm and a fund in light of just massive dislocations in your space, as well as the overall economy.
Due to increased dealflow and revenues, we grew diluted earnings per share 33% year over year to $0.85 We have a healthy pipeline of fourth quarter funds and expect syndication activity to improve in the fourth quarter. We closed $11.6 Should that change, we'll obviously adjust to it. There's no projection to that.
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