(FINalternatives) Alternative asset manager Owl Rock has teamed with the Regents of the University of California to form a new strategic loan fund as part of the company’s middle-market direct lending efforts.
The two firms have each ponied up an initial $100 million in equity for the new vehicle, according to a Reuters article citing a regulatory filing. It is structured as a 50/50 joint venture between the company’s BDC Owl Rock Capital Corp., and the Regents, and will invest primarily in senior secured loans made to middle market companies.
