THL Credit BDC "On Hold" - Sources
The public offering for a credit fund owned by THL Partners has been placed on hold for the foreseeable future, several sources familiar with the situation tell peHUB. The Boston-based firm filed a prospectus to raise $300 million for a business development corporation (BDC) in June. That THL Credit would wait for better timing to take its funds public is no surprise, despite an increasingly hot IPO market. The other BDC in registration this year already threw in the towel. In May, Nelson Peltz filed with plans for a similar move, seeking to raise $300 million for a newly formed blind pool BDC called Trian Capital Corporation. That effort was pulled from the market in August, citing the lack of investor appetite for BDC IPOs.
18 December 2009•2 mins read
