Owl Rock Looking to Raise $5 Billion for Middle-Market Loans
- Credit shop will provide financings of as much as $250 million
- Direct lenders raised $9 billion in the second quarter: Preqin
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Owl Rock Capital Partners is targeting $5 billion for its strategy of providing senior loans to upper middle-market companies.
The direct lender is looking to raise cash across two vehicles: a business development company and another fund, according to documents from the New Jersey State Investment Council. The pension fund is moving forward with a $150 million commitment to the strategy following a meeting Wednesday, a spokeswoman confirmed in an email.