PGIM looks to build private credit secondaries strategy
EXCLUSIVE: The insurer-linked asset manager already has secondaries capabilities through the acquisition of Montana Capital Partners in 2021

PGIM closes sophomore senior debt fund with USD 4.2bn
The commingled, private fund will be used to lend to middle-market companies across North America, Europe and Australia

KKR grows ABF business to USD 75bn, expands origination
The alternative asset manager acquired a majority stake in a biopharma royalties business this week to add to its asset-backed finance business

Moodys, MSCI roll out tool to predict private credit defaults in portfolios
With GPs granting access to private portfolio data, limited partners could also get ‘implied ratings’ for the underlying private loans

Morgan Stanley loses head of direct lending and co-head of North America private credit
EXCLUSIVE: the head of direct lending had also served as co-head of North America Private Credit at Morgan Stanley Investment Management; bank assigns new head  

HarbourVest launches dedicated private credit secondaries strategy
This builds on the alternative asset manager’s existing secondaries strategy and private credit strategy

Sixth Street to open Singapore office, hires head of APAC
The private credit manager has created the new role to better raise investor capital and expand the firm’s investment capabilities in the region

Private credit managers find “white space” even as capital concentrates among the few – Mercer
Institutional investors commit most of their capital to established private credit firms of scale, but they’re often more willing to take a chance on newcomers in strategies outside of direct lending

Carlyle snags Goldman’s Alex Chi for head of direct lending
Chi most recently served as co-head of Americas private credit at Goldman Sachs Asset Management

Goldman launches private credit fund for retirement portfolios
The product will be used in a retirement product backed by Great Gray, BlackRock and Wilshire Advisors to give individual investors access to public and private assets

Man Group to acquire CLO and private credit manager Bardin Hill
The USD 3bn credit manager, now named Bardin Hill, is a private credit and US CLO shop based in New York

Monroe launches client solutions group to build blended portfolios
EXCLUSIVE: The private credit firm is forming a team to build products that mix investments across strategies such as direct lending, CLOs, structured credit, venture and more

Competition is erasing 'spicy' returns for larger ARR loans – HighVista
Lenders are pressured to offer more leverage, and pricing is starting to match EBITDA-based loans

Monroe hires ex-Nuveen senior MD for head of capital formation
The new hire will lead Monroe’s fundraising strategy in the Americas

Investcorp passes halfway mark on second GP stakes fund
EXCLUSIVE: USD 600m raised to date against USD 1bn target of a strategy that was launched in 2019 and focuses on mid-market

BNP Paribas taps alts head for combined BNP, AXA IM group
Isabelle Scemama will oversee more than EUR 300bn in assets as the two groups merge

Default expectations rise as tariff threats to North America deepen – IACPM survey
Credit portfolio managers across the world see tariff-related headwinds for both the US and Canada

FS Investments readies opportunistic credit fund, targets USD 750m
EXCLUSIVE: The vehicle, which will be the second opportunistic fund from FS, is set to launch in the third quarter of this year

CalPERS rolls out ESG due diligence for private debt investments
The California pension giant also has an investment mandate specific to battling climate change

Ares launches direct lending fund for European wealth investors
The firm’s first ELTIF product will give individual investors access to its existing European direct lending strategy

Clearlake seals largest new direct lending deal for Dun & Bradstreet
Ares leads deal, taking USD 1.5bn; Morgan Stanley, Clearlake Capital Markets, Golub and Blue Owl also helped arrange the largest new unitranche ever

Clearlake, direct lenders plan to ink USD 5bn private credit loan for Dun & Bradstreet
EXCLUSIVE: A group of direct lenders led by Ares are wrapping up a USD 5bn term loan and USD 500m revolver, prepping to sign commitment documents within hours

Kayne Anderson raises more than USD 2bn for middle market direct lending
EXCLUSIVE: The firm plans to hold a final close for Kayne Anderson Senior Credit Fund V at the end of the year

Crestline raises USD 3.5bn for sponsor and nonsponsor-backed direct lending
The firm held a final close for its Crestline Direct Lending Fund IV

JPMorgan’s asset management arm seeks to raise direct lending fund
EXCLUSIVE: The asset management unit is raising capital from institutional investors for direct lending as the bank steps up lending from its balance sheet.