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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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Various strategies will be offered via platform aimed at HNWI investors -
Direct lender raises cash to pursue larger deals
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New position strengthens private lending capability
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Market debates ramifications of the dominance of club deals in the long term
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