Private equity firms CVC and Coller Capital have joined forces to buy US direct lender Northport Capital from Resource Capital Corp, they announced on August 5. Financial News' sister publication Private Equity News spoke to one of the team involved for CVC Credit Partners, CVC's sub-investment grade credit arm.

Tom Newberry, partner and head of private funds at CVC Credit Partners, discussed why CVC is teaming up with Coller Capital and looking to expand its direct lending business into North America. Financial terms of the deal were not disclosed.