KBRA Analytics has acquired Direct Lending Deals, or DLD, a digital information service for the direct lending market, expanding KBRA's assessment capabilities into that industry.
DLD provides investors and originators with up to date deal data, news and analysis in the direct lending, which is fast growing and controls an estimated $1 trillion in assets.
Chicago-based DLD specializes in private-equity driven financing in the lower and middle markets, and private jumbo loans sized at $1 billion or more. To provide this information to its client base, DLD trades on relationships across the direct lending market's key investors, professionals shaping the market, fundraisers, and business development companies (BDC) to deliver its insights. Founded in 2019, DLD introduced its online platform in 2021.
"I'm excited to take DLD to the next level with the team at KBRA Analytics," said DLD Founder Kelly Thompson. "The senior executives at KBRA are a tour de force with a track record of success. We share the same vision for growth opportunities in private credit."
KBRA Analytics is not the only research and ratings firm beefing up its offerings through expansion recently. This week Fitch Group announced its plan to purchase dv01, a data and analytics provider to the structured finance market, in a deal that it expects to close by the end of Q3 2022.
For its part, KBRA Analytics finalized its acquisition on August 31.
Thompson has been writing about leveraged finance for 20 years, which led to her creating the market's first business development company database in 2013 and spearhead BDC news reporting among financial journalists.
KBRA bought DLD at a time of expansion, as well. It had recently hired Rachel McGovern, its Dublin-based editor and European bureau chief to launch coverage of its European direct lending market. DLD expects that territory to be on the same growth trajectory as the U.S. market.
"Given the expansion of the private credit space, DLD and KBRA Analytics are a perfect team to provide the market with superior data and news coverage," said Jim Nadler, KBRA's President and CEO. "We will leverage Kelly Thompson's deep knowledge to continue providing the market with unparalleled services."
