Structured credit specialists seek future-proofing in direct lending
At the turn of the last credit cycle, structured credit recovered spectacularly – but credit managers today seem to be gravitating towards private credit as the area to pick up excess returns in a downturn

Know the best way to crack direct lending? Be a true ‘direct’ lender
Varagon's chief executive claims that there is a big difference between being a follower and a leader in direct lending

Calling all direct lenders: don’t do this…
Direct lending seems to be the hottest ticket in town, with middle market loan managers finding fundraising to be a cinch. However, several advisors have warned of the pitfalls managers should avoid when they pitch their funds to institutional investors

BlackRock raising $2.5 billion for direct lending fund: report
BlackRock is seeking to raise $2.5 billion for a private credit fund – and has already hit the $1.5 billion mark in sales, according to a Bloomberg report

New Hampshire pension makes $50 million commitment to direct lending
The New Hampshire Retirement System has approved a $50 million commitment to BlueBay’s Direct Lending Fund III (USD unlevered), according to documents seen by Creditflux

Triangle BDC goes on a different tangent with Barings and Benefit Street deals
Triangle BDC sells assets to Benefit Street and arees to Barings takeover in an unusual deal 

Direct lenders pile into "turbocharged" market as fundraising skyrockets: report
Growth in the direct lending market in the 12 months to 31 December was “turbocharged,” growing robustly in the fourth quarter 2017 in particular due to a consistently growing Eurozone economy, according to Deloitte

Sacramento pension fund eyes new private credit allocation
The Sacramento County Employees’ Retirement System’s board has approved a new annual investment plan for 2018 that introduces a private credit allocation, Creditflux has learned

Ohio pension backs BlackRock multi-asset and BlueBay direct lending funds
BlackRock and BlueBay have each won commitments from a $14.7 billion Ohio pension fund

Oak Hill BDC's assets continue to nosedive as board explores options
As it continues to bleed assets, Oak Hill Advisors’ direct lending business development company (BDC) has jettisoned the last of its energy assets

Monroe hires vice president in investor relations team
Chicago-based direct lender Monroe has appointed Ryan Flanders as a vice president in its New York office

Good news for BDCs as congress doubles leverage limits
US lawmakers have granted business development companies (BDCs) the ability to borrow more – a move for which the BDC industry has been pushing for years

Former Merrill Lynch US loan head takes on new role at New York-based direct lender
A 30-year loan veteran is taking on his first buy-side role at a US direct lender

Private equity firm hits target size with $170 million for its first credit fund
Technology-focused private equity firm Accel-KKR has raised $170 million – and hit the total offering amount – for its series 1 Credit Partners fund, which appears to be a direct lending strategy

EnTrustPermal makes senior hire in bid to expand aviation financing capabilities
New York-based EnTrustPermal becomes the latest asset manager to expand its aviation finance capabilities as it hires veteran aviation investor John Morabito 

Global law firm appoints credit fund specialist as partner in London
Global law firm Macfarlanes has appointed fund specialist Samuel Brooks to partner within the firm’s investment management team

Two ArrowMark direct lending MDs take their leave
Direct lending specialists Vipul Shah and Michael Novoseller have left ArrowMark Partners after three years at the firm, Creditflux has learned

Sharp decreases mar THL direct lending BDC's latest financial results
THL Credit has reported a decrease in net assets from operations and net investment income in its newly released financial results, but chief executive Christopher Flynn remains "confident" in the underlying value of the direct lending business

UK pension mega-fund to increase credit allocation following equity reduction
One of the UK's largest pension funds looks set to increase its allocation to credit after reducing its equity allocation by 15%

Hercules Capital makes mighty push into commercial finance with acquisition
Speciality finance and venture growth firm Hercules Capital has acquired asset-based lender Gibraltar Business Capital in a bid to expand financing options to clients

BC Partners registers BDC to invest in US middle market companies
Pan European buy-out investor BC Partners, Acuris’s parent company, has registered a new BDC under the name of BC Partners Lending Corporation, SEC filings reveal

FS Investment BDC's assets shrink for fifth year running
FS Investment Corporation, an FS Investments business development company (BDC), failed to grow its assets again in 2017 – but insists its recently announced partnership with KKR will allow it to grow stockholder value

Canadian asset manager acquires Asian private credit specialist Clearwater
In a bid to gain entry to the Asian private credit market, Canadian investment firm Fiera Capital Corporation has acquired Asian credit specialist Clearwater Capital Partners

Credit specialist poaches Goldman Sach's Eric Muller in New York
Credit specialist Oak Hill Advisors has hired New York-based Eric Muller from Goldman Sachs Group, according to a market source

Carlyle’s direct lending BDC hits $2 billion, buoyed by inflows to credit fund
Carlyle’s Group’s direct lending business development company, TCG BDC, has announced a net increase in assets of $27 million for the most recent quarter