Wells Fargo, Centerbridge Direct Debt Deals Reach $2.8 Billion
- Venture with Centerbridge has arranged six deals since June
- Banks are teaming up with private firms to source transactions
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A venture between Wells Fargo & Co. and Centerbridge Partners dedicated to direct lending has arranged $2.8 billion in deals since its formation a year ago, according to a statement seen by Bloomberg News.
The business development company, known as Overland Advantage, led six deals alongside Wells Fargo, including a $74 million second-lien credit facility for MaxiTransfers and a $215 million deal for FFF Enterprises Inc. Other deals include financings for Continental Services, Capital Vacations, SGA Dental Partners and TriWest Healthcare Alliance Corp.