TCW Group reported Monday its intentions to buy a special situations funds group, which will enable it to enter the direct lending business for middle market clients, Reuters reports. This acquisition will come before its own sale to private equity firm The Carlyle Group.
Los Angeles-based TCW, who holds $135 billion of assets under management, will acquire the AUM direct lending funds of Regiment Capital Advisors for $2 billion.
Terms involved in the deal were not disclosed.
