Ex-UBS Execs Raising $500 Mln Senior Loan Fund

By Bradley Keoun and Sabrina Willmer

Melody Capital Partners, co-founded by the former global head of UBS AG’s special situation group, is seeking $500 million for a fund that will make senior secured loans in North America and Western Europe, according to an investor presentation obtained by Bloomberg News.

The fund, which has both private equity and evergreen hybrid components, has secured a $100 million commitment from Fortress Investment Group, the document shows.

Melody Capital joins a number of firms raising middle-market lending funds to take advantage of a pullback by financial institutions following the 2008 financial crisis, including Oaktree Capital Group LLC, KKR & Co. and Carlyle Group LP.

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