John Sage, Bloomberg News Journalist Profile

Articles

JPMorgan Sounds Out Buyers for Discounted Pluralsight Debt

Aug 8, 2024 | bloomberg.com | Carmen Arroyo |John Sage

JPMorgan Chase & Co. has attempted to broker trades in the debt of Pluralsight Inc. as part of a broader effort to buy and sell typically-illiquid loans originated by private credit firms, according to people with knowledge of the matter. Last week, the bank reached out to prospective buyers with a list of direct loans, according to the people, who asked not to be named discussing private talks.
JPMorgan Sounds Out Buyers for Discounted Pluralsight Debt

Aug 8, 2024 | bnnbloomberg.ca | Carmen Arroyo |John Sage

(Bloomberg) -- JPMorgan Chase & Co. has attempted to broker trades in the debt of Pluralsight Inc. as part of a broader effort to buy and sell typically-illiquid loans originated by private credit firms, according to people with knowledge of the matter. Last week, the bank reached out to prospective buyers with a list of direct loans, according to the people, who asked not to be named discussing private talks.
JPMorgan Sounds Out Buyers for Discounted Pluralsight Debt

Aug 8, 2024 | finance.yahoo.com | Carmen Arroyo |John Sage

(Bloomberg) -- JPMorgan Chase & Co. has attempted to broker trades in the debt of Pluralsight Inc. as part of a broader effort to buy and sell typically-illiquid loans originated by private credit firms, according to people with knowledge of the matter.
Why Prospect Capital’s $8B Private Credit Strategy Is Raising Concern

Aug 6, 2024 | bloomberg.com | John Sage |Ellen Schneider

Prospect Capital, a little-known New York firm that helped pioneer the private credit boom, has come up with an unusual technique to keep dividends flowing out of an $8 billion fund it runs. For years now, it’s sold financial instruments to retail investors and handed over the proceeds to shareholders. The sales helped the fund deliver hefty payouts even as the performance of its investments — mostly corporate loans to mid-size companies and real estate — deteriorated markedly.
TPG Direct Lending Unit Amasses $3.9 Billion for Its Fifth Fund

Aug 5, 2024 | bloomberg.com | John Sage

TPG Inc.’s Twin Brook Capital Partners closed its fifth direct lending fund with $3.9 billion of aggregate capital commitments, surpassing a $3 billion target, according to a person familiar with the matter. TPG AG Direct Lending Fund V received some $1.7 billion of commitments in the 10 days before the offering period ended, said the person, who asked not to be identified as the matter is private.
TPG Direct Lending Unit Amasses $3.9 Billion for Its Fifth Fund

Aug 5, 2024 | bnnbloomberg.ca | John Sage

(Bloomberg) -- TPG Inc.’s Twin Brook Capital Partners closed its fifth direct lending fund with $3.9 billion of aggregate capital commitments, surpassing a $3 billion target, according to a person familiar with the matter. TPG AG Direct Lending Fund V received some $1.7 billion of commitments in the 10 days before the offering period ended, said the person, who asked not to be identified as the matter is private. The fund, which closed on June 30 according to the person, was launched in 2022.
Private Credit Sells Funds for Small Investors as Big Ones Balk

Aug 2, 2024 | wealthmanagement.com | John Sage

Private credit firms are looking to get their share of an estimated $178 trillion personal wealth market by offering individual investors what looks almost like a mutual fund. The product, called an interval fund, is being pitched to registered investment advisers as an easy-to-sell entry into direct lending. Interval funds are being offered in amounts as low as $1,000 and can be purchased online through brokerage accounts, unlike larger investments that require multi-page subscription agreements.
Private Credit Sells Funds For Small Investors As Big Ones Balk

Aug 2, 2024 | fa-mag.com | John Sage

Private credit firms are looking to get their share of an estimated $178 trillion personal wealth market by offering individual investors what looks almost like a mutual fund. The product, called an interval fund, is being pitched to registered investment advisers as an easy-to-sell entry into direct lending.
Private Credit Sells Funds for Small Investors as Big Ones Balk

Aug 1, 2024 | news.bloomberglaw.com | John Sage

Private credit firms are looking to get their share of an estimated $178 trillion personal wealth market by offering individual investors what looks almost like a mutual fund. The product, called an interval fund, is being pitched to registered investment advisers as an easy-to-sell entry into direct lending. Interval funds are being offered in amounts as low as $1,000 and can be purchased online through brokerage accounts, unlike larger investments that require multi-page subscription agreements.
Private Credit Sells Interval Funds as Direct Lenders Seek Retail Cash

Aug 1, 2024 | bloomberg.com | John Sage

Private credit firms are looking to get their share of an estimated $178 trillion personal wealth market by offering individual investors what looks almost like a mutual fund. The product, called an interval fund, is being pitched to registered investment advisers as an easy-to-sell entry into direct lending. Interval funds are being offered in amounts as low as $1,000 and can be purchased online through brokerage accounts, unlike larger investments that require multi-page subscription agreements.