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Investment Banking

Wall Street rushes into a new asset class: direct lending

The market for direct lending funds has become 'feverishly hot', and some see worrying signs of lax standards

Old meets new: investors are looking outside the traditional bond markets
Old meets new: investors are looking outside the traditional bond markets Photo: Zach Meyer

Goldman Sachs, GSO Capital Partners and KKR: It is hard to imagine better credentials in finance for the founders of Owl Rock Capital Partners.

The two-and-a-half-year-old firm is led by Craig Packer, who ran Goldman’s leveraged loan desk; Doug Ostrover, the “O” founding partner in Blackstone Group’s credit hedge fund GSO; and Marc Lipschultz, the former head of energy investments at KKR.

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