Blue Owl Tipped Century Capital Partners Into Administration: FT

Blue Owl Capital tipped Century Capital Partners into administration last month after discovering the bridging loan firm had dismissed a director because of financial discrepancies, the Financial Times reports, citing documents it had seen and unidentified people familiar with the matter.

• Paul Munford, the founder of Century Capital, is trying to relaunch his bridging loan business as Century London
• Creditors have not accused Century Capital or its management team of fraud, but took action after uncovering apparent issues with its financial reporting and controls
• Blue Owl’s asset-backed lending unit had exposure to the riskiest junior slice of Century Capital’s debt ...