Investors target Africa amid growing population and financing gaps
Africa might be one of the last frontiers to capitalise on the global private credit rush, but a number of managers are now looking to set up private credit funds this year to take advantage of the opening gap

LevFin fighting back to counter two years of direct lending dominance | DebtDynamics EMEA
Traditional lenders are battling to retake control of LBO funding from direct lenders, and syndicated leveraged loans appear to have the edge

First private credit LTAF is approved
The UK’s Financial Conduct Authority greenlighted a joint venture this week, representing the first long-term asset fund offered by a private debt specialist

European credit specialist Sona raises USD 800m, exceeds expectations
European credit specialist Sona Asset Management held a final close of its Capital Solutions II fund

Ture receives EUR 30m commitment for Nordic private credit fund
Swedish direct lender Ture Invest Partners continues to raise funds for the third vintage of its private credit fund — called Ture Credit Fund III

Ares receives another USD 100m for its third direct lending fund
Ares Management continues to inch towards its goal of raising USD 10bn for its third senior direct lending fund with a recent commitment from a pension fund.

PGIM Private Capital launches ELTIF
PGIM Private Capital rolled out its first European long-term investment fund as managers continue to adopt the new fund structure

Sagard targets North American middle market opportunities with new senior lending fund - partner
Sagard, a Power Corporation of Canada alternative asset investment platform, will provide first-lien financing to lower middle market and middle market US and Canadian companies

Corinthia eyes mid-June start
Corinthia Global Management, the start-up firm that’s shaking up the USD 1.7trn private credit space, is laying the foundations for mid-June market entrance

Boutique London manager holds first close on direct lending fund
London-based alternative investment manager Prefequity revealed the first close of its Prefequity Credit Opportunities II fund 

Fidelity U-turns on European direct lending strategy as it ditches origination in favour of third-party partnerships
Fidelity International is cutting its direct lending division in Europe, and will instead partner with third parties to offer private credit solutions going forward

BlackRock expands investment grade private credit team
BlackRock has hired a senior executive from Pacific Life to lead the firm’s investment grade private placement platform

Major banks embrace private credit partnerships as they target non‑traditional lending
PNC Financial Services Group and TCW Group are the latest to team up to launch a private credit platform, as non-traditional bank lending continues to attract established banks.

New Mountain Capital BDC raises nearly USD 860m
New York-based alternative asset manager New Mountain Capital has held close of its New Mountain Guardian IV BDC 

Swedish manager raises EUR 1.7bn for private credit fund
A Stockholm-based private credit specialist has closed a fund targeting non-sponsored loans to mid-sized family-owned and growth businesses in Northern Europe

British bank and Irish asset manager team up
British Business Investments and DunPort Capital Management are the latest bank and asset management duo working together

Investec Bank launches private credit management team
London-headquartered Investec Bank is growing its direct lending platform with the launch of a new private credit management team

Funds round up: April 2024
Allocations to private credit and new fund launches continued to roll out in April, as our monthly round-up confirms

Golub raises USD 2bn for sixth credit opportunities fund
Golub Capital has held the final close of the sixth vintage of its credit opportunities fund, raising USD 2bn

Man Group hires new senior managing director for private credit business
Man Group has hired a New York-based senior managing director to lead the firm's client engagement and strategic efforts in private credit and direct lending

Golub hires from MetLife for new insurance solutions team
Golub Capital has launched a new insurance solutions team, as the firm continues its multi-year plan to build out its investor partners group

Debtwire FY23 US Direct Lender Rankings
US-based direct lenders chalked up nearly 2,000 disclosed facilities in 2023, a year in which deal value totaled USD 169.2bn 

Antares hires CSAM managing director
Antares Capital has hired a new managing director and global head of product strategy and development from CSAM

Baltimore pension system puts USD 35m into private credit fund
The City of Baltimore's Fire & Police Employees' Retirement System recently allocated USD 35m to a private credit fund

Private credit firms chase opportunities in asset based lending as US banks withdraw
Lending against assets is becoming the fastest growing part of private credit. The market is expected to grow from roughly USD 787bn in 2024 to more than USD 1.26trn in 2028, according to a report by Research and Markets, a data and statistics firm.