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Stock Market & Financial Investment News

News Breaks
March 4, 2014
07:24 EDTSLRC, TCPC, ARCC, HRZN, MCC, ACAS, TICC, AINV, GBDCBDC sector upgraded to Overweight at Wells Fargo
Wells Fargo upgraded the Business Development Company sector to Overweight from Market Weight after Russell announced that it will exclude BDCs from the Russell indices as a result of Acquired Fund Fees. Wells says any sell-off in the space will be due to technical and not fundamental reasons. The firm has Outperform ratings on American Capital (ACAS), American Capital (ARCC), Golub Capital (GBDC), Medley Capital (MCC) and TCP Capital (TCPC).
News For ACAS;ARCC;GBDC;MCC;TCPC;AINV;HRZN;SLRC;TICC From The Last 14 Days
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March 30, 2015
16:15 EDTMCCSierra Income announces joint venture
Sierra Income announced that it has formed a joint venture with a premier U.S. provider of property and casualty insurance, creating Sierra Senior Loan Strategy JV I LLC. The joint venture is expected to invest primarily in middle market and other corporate debt securities, a natural extension of Sierra’s leading origination and underwriting franchise. Sierra and the JV Partner have committed to provide an aggregate of $100M of equity to the joint venture, with Sierra providing $87.5M and the JV Partner providing $12.5M. In addition, SIC SLS JV is in discussions with third party financing providers to provide the joint venture with a credit facility. Sierra and the JV Partner anticipate beginning to fund the joint venture with new investments in May. SIC Advisors LLC is an affiliate of Medley Management.
16:13 EDTMCCMedley Capital announces JV
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March 26, 2015
08:30 EDTACASAmerican Capital management to meet with Deutsche Bank
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March 25, 2015
12:00 EDTACASAmerican Capital announces authorization of reinstatement of repurchases
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March 19, 2015
09:20 EDTHRZNOn The Fly: Pre-market Movers
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08:49 EDTHRZNHorizon Technology 2.38M share Spot Secondary priced at $13.95
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March 18, 2015
16:06 EDTHRZNHorizon Technology files to sell 2M shares, 380K shares for holders
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08:10 EDTARCCAres Management names Michael McFerran as CFO
Ares Management, L.P. (ARES) announced that it has appointed Michael R. McFerran as Executive VP, CFO and Treasurer, effective March 23. McFerran will assume firm-wide CFO and Treasurer responsibilities. McFerran was previously a Managing Director at Kohlberg Kravis Roberts & Co. L.P. (KKR) where he served as the CFO of KKR’s credit business and was the COO and CFO of KKR Financial Holdings LLC (KFN). Daniel F. Nguyen, Ares Management’s current CFO and Treasurer, will remain with Ares as CFO of the Ares Private Equity and Tradable Credit Groups and will continue his involvement with firm M&A activities. The CFO roles for each of the other two Ares investment groups, Direct Lending and Real Estate, will continue to be filled by Penni Roll and Tae-Sik Yoon, respectively. In addition, Roll will continue as CFO of Ares Capital Corporation (ARCC) and Yoon will continue as CFO of Ares Commercial Real Estate Corporation (ACRE).

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