Invesco Reduces Ranger Direct Lending Stake

Invesco Perpetual has sold GBP9.6 million ($12.45 million) worth of shares in the Ranger Direct Lending Fund, reducing its stake to 27.9%; the GBP243 million ($315 million) Fund has been struggling in 2017; it primarily invests across the private debt landscape with a focus on private direct lenders; however its losses have been related to its exposure to troubled lending platform Argon Credit which it had invested in indirectly through the Princeton Alternative Fund; in February 2017 it reported a significant impairment charge for the investment and its value has been decreasing. Source

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