Bloomberg is reporting that beleaguered fund manager, Brendan Ross, has resigned as CEO of Direct Lending Investments; citing a letter that was sent to investors yesterday Brendan resigned as of March 18; the fund had suspended withdrawals after a borrower had defaulted on a loan that accounted for about a quarter of its capital; we now learn that the SEC is investigating the company and a new issue has emerged, that valuations of one of its investments may have been materially overstated. Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.