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Ranger Direct Lending responds to Oaktree’s wind-down proposal

Ranger Direct Lending responds to Oaktree’s wind-down proposal – Ranger Direct Lending (RDL) has published its response to a letter from Oaktree Capital Management, L.P., proposing a wind-down of the company.

Click here to see a copy of the text of the letter from Oaktree and a copy of Ranger Direct Lending’s response: 180425 Oaktree letter and Ranger response – RNS

About Oaktree Capital Management

Oaktree Capital Management describes itself as a leading global alternative investment management firm with expertise in credit strategies. The firm was formed in 1995 by a group of individuals who had been investing together since the mid-1980s in high yield bonds, convertible securities, distressed debt, real estate, control investments and listed equities. Today, Oaktree comprises over 900 employees in Los Angeles (headquarters), New York, Stamford, Houston, London, Paris, Frankfurt, Amsterdam, Dublin, Luxembourg, Dubai, Hong Kong, Tokyo, Singapore, Seoul, Beijing, Shanghai and Sydney. The firm has 35 portfolio managers with average experience of 23 years and over 813 years of combined industry experience.

About Ranger Direct Lending

Ranger Direct Lending’s investment objective is to seek to provide shareholders with an attractive return (target is 12-13% gross), principally in the form of quarterly income distributions (targeting 10% yield on the IPO price), by acquiring a portfolio of debt, such as loans, invoice receivables and asset financing arrangements, that have been originated or issued by businesses that serve as originators and distributors of this debt but are direct lending platforms rather than traditional retail or investment banks. Up to 10% of the portfolio may be invested in the equity of these direct lending platforms.

RDL : Ranger Direct Lending responds to Oaktree’s wind-down proposal

 

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