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Long seen as adversaries, banks and private credit lenders are getting used to working together
Fahy will also lead asset-based finance origination
Direct lending default rates tick higher amid notable distressed situations
A Swiss borrower has already closed books and Austria's Egger will soon
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Unitranche deployment has slowed despite busy year for direct lenders -
Fidelity International continues expansion into private debt after 2021 acquisition
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The €2.7bn promissory note was increased from €500m target
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Firm closed its second vehicle on €800m in January and recently added to its team
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The PP will test the blockchain for issuing securities
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CEO Winkelried tells investors inorganic growth is a priority and says firm is actively focused on credit
