It is time to start reposting. I never formally stopped writing this blog so I am not formally restarting it. There is a mealy-mouthed cop-out if ever there was one.
The primary reason I decided to restart posting is the DI Wire. I have been getting its daily updates on the Direct Investment (DI) industry for a year or more and still have not figured out its mission. Is it news? Paid advertisement? A mixture of both? The best I can figure the DI Wire is mostly the PR Wire. The tipping point for me was earlier week when a headline announced that Benefit Street was to acquire Business Development Corporation of America (BDCA). Wrong. As subsidiary of Benefit Street is acquiring BDCA's advisor from AR Global, and it is not acquiring BDCA. The headline, which has not been corrected, implied a liquidity event for BDCA investors. Wrong. BDCA investors will have a new investment manager, not liquidity. Big, big difference.
Of course I will continue to read the DI Wire, I love to read stories about direct investment sponsors hiring wholesalers or random acquisitions in line with investment objectives.