Wells Fargo, Centerbridge Hit $4.8 Billion in Lending Venture

A direct lending partnership between Wells Fargo & Co. and Centerbridge Partners has arranged $2 billion in deals since the start of this year, bringing its total amount deployed to-date to $4.8 billion, according to a statement seen by Bloomberg News.

The business development company, called Overland Advantage, has led nine deals alongside Wells Fargo so far, including first-lien term loans for beverage distributors Southern Crown Partners and Hand Family Cos.