Record $5B Private Credit Loan Reportedly Sought by Ardonagh

Discovery Behavioral Health operates more than 100 treatment programs across 12 states.

The firm is in discussions to raise several billion dollars in initial capital for a direct lending strategy that will originate loans via its commercial bankers.

Private equity’s secondaries market is bigger and more liquid than ever, but as record volumes collide with rising NAV leverage, getting deals done now hinges less on price and more on approvals, compliance and execution.