Credit

BDC provides $2.3 mln loan to AI company Primal

Kitchener, Ontario-based Primal, an artificial intelligence company, has secured a $2.3 million loan from BDC. The capital infusion will be used to commercialize new applications, pursue strategic partnerships, sign licensing deals and invest in sales and marketing.

Berkshire Group racks up $1.25 bln for second multifamily debt fund

Boston-based Berkshire Group, a real estate investment management company, has raised $1.25 billion for its second multifamily debt fund. Berkshire Multifamily Debt Fund II will invest in debt assets secured by multifamily properties.

PennantPark grabs $420 mln from Capital One

Capital One provided a $420 million five-year secured line of credit for PennantPark. Headquartered in New York, PennantPark is a business development company that primarily invests in U.S. middle-market companies in the form of floating rate senior secured loans.

Ardian Private Debt and EQT Credit support Hg's investment in MediFox

Ardian Private Debt and EQT Credit have provided financing to back Hg's investment in MediFox, a provider of software solutions to over 6,000 ambulatory care services, elderly care homes and therapists in Germany. No financial terms were disclosed.

LendingTree to acquire Ovation Credit Services for $20.75 mln

LendingTree Inc has agreed to acquire Ovation Credit Services Inc, a provider of credit services, for a consideration of $20.75 million. The transaction is expected to close in the second quarter of 2018.

Golub Capital backs Browz

Golub Capital has provided $22 million in growth funding to Browz, a provider of supplier qualification and management solutions to top brands. The capital will be used for growth.

Maranon beefs up team with new hire

Maranon Capital has named Mykel Kilgore as a portfolio analyst. Previously, Kilgore worked at PNC Financial Services Group where he was a credit analyst.

Aberdeen buys Hark from Enhanced Capital Group

Aberdeen Standard Investments has acquired Hark Capital from Enhanced Capital Group. No financial terms were disclosed. New York City-based Hark is a provider of loans to private equity and venture capital funds.

Azadian spins off direct lending and financing business

Azadian Group, a New York City-based commercial financing provider, has spun off its direct lending and financing business into Change Capital. Change Capital will focus on businesses that are owned by minorities, women, veterans of the armed forces, immigrants and the physically challenged.

Maranon wraps up third CLO at $625 mln

Maranon Capital LP has closed its third collateralized loan obligation at $625 million. Wells Fargo Securities LLC arranged the middle-market CLO, which has a four-year reinvestment period.