The London-based startup aims to address private credit's fund-level liquidity, which remains constrained by available cash and redemption terms.
The non-traded BDC reduced its revolver to $975 million to lower borrowing costs and align with its target leverage.
The former Sixth Street Senior Advisor will oversee portfolio construction for the firm's solutions, including credit secondaries and direct credit.
Repurchase requests in the $4.3 billion private debt fund have now fallen for two consecutive quarters, more than halving from 8.5% in Q1 to 3.8% in Q3.
The non-traded BDC completed another private placement offering, with proceeds earmarked to repay existing debt, including its 3.125% notes due later this month.
The equity commitments were raised across an evergreen fund, a closed-end venture debt fund, and a rated note offering.
