Wells Fargo, Centerbridge Direct Debt Deals Reach $2.8 Billion

A venture between Wells Fargo & Co. and Centerbridge Partners dedicated to direct lending has arranged $2.8 billion in deals since its formation a year ago, according to a statement seen by Bloomberg News.

The business development company, known as Overland Advantage, led six deals alongside Wells Fargo, including a $74 million second-lien credit facility for MaxiTransfers and a $215 million deal for FFF Enterprises Inc. Other deals include financings for Continental Services, Capital Vacations, SGA Dental Partners and TriWest Healthcare Alliance Corp.

Wells Fargo is one of a handful of banks that have teamed up ...