Carlyle BDC forms $250 million direct lending JV with Cliffwater
Carlyle’s business development company TCG BDC has formed a $250 million mid-market direct lending joint venture with Cliffwater

GSO co-founder Bennett launches minority GP-stake business
GSO Capital Partners co-founder Bennett Goodman (the “G” in GSO) has teamed with Mike Arpey, Avshalom Kalichstein and Rex Chung to launch a new GP stakes investing business

Credit fundraising: Dubai manager gets in on the act as direct lending takes off
Shuaa launches credit fund in the Gulf as Ares, Contingency, HPS and Perceptive are among those to close billion-plus funds

Apollo appoints head of credit valuations from sell-side
Apollo has appointed a head of credit valuations, as its previous head of credit valuations has transitioned internally to cover private equity valuations

Pemberton hires from Alcentra in bid to boost North American investor base
Pemberton has appointed a former Alcentra official to the newly created role as managing director for North American business development, as it seeks to expand its US and Canadian investor base

European CLOs should obtain STS certification, urges ACC
The Alternative Credit Council has urged policymakers to allow European CLOs to obtain Simple, Transparent and Standardised (STS) certification in a bid to boost non-bank lending

NXT CEO to retire next year
The chairman and chief executive officer of NXT Capital, Robert Radway, is retiring late next year

BMO caters to Europeans with new US mid market loan fund
BMO Financial Group has launched a US mid-market credit fund for European institutional investors

Stepstone subsidiary raises $35 million private markets fund for high net worth individuals
Conversus has closed an inaugural private markets fund, Conversus StepStone Private Markets, at $35 million

Ares holds €6.97 billion first close on European direct lending fund
Ares Management Group has collected $12 billion in gross credit commitments over the third quarter of the year, according to the firm’s earnings presentation, including $8.2 billion for the first closing of its fifth European direct lending fund

Direct lending green shoots flourish despite fundraising plunge
Despite the headline figures, sources say European direct lending fundraising remains healthy and newcomers have a place to enter

Veritas closes inaugural credit opportunities fund at $400 million
Veritas Capital has held a final close inaugural credit opportunities fund Veritas Capital Credit Opportunities Fund at $400 million

Thoma Bravo brings in ex-Goldman veteran to spearhead credit division
Private equity firm Thoma Bravo has appointed an ex-Goldman Sachs official veteran to spearhead the firm’s credit division

EQT completes sale of credit business to Bridgepoint
EQT has completed the sale of its €3.9 billion credit business segment to Bridgepoint

LP round up: EIF backs four debt funds while Carlyle wins $1 billion
Institutional investors have allocated just over $4 billion to 27 credit managers in October board meetings

BlackRock co-head of direct lending set to depart
The co-head of direct lending at BlackRock and Tennenbaum Capital Partner’s special situations unit is set to leave the firm by the end of the year

Sun Life Financial buys 51% stake in Crescent
Sun Life Financial has bought a 51% stake in credit manager Crescent Capital Group as part of its push into alternative credit

Alcentra hires Mulshine as head of US distribution
Alcentra has hired a new head of US distribution from Lazard

Window or aisle? Pimco jets off with GE for $3 billion aircraft leasing platform
Pimco has partnered with GE Capital Aviation Services to launch a $3 billion aviation leasing platform, which the pair say will “provide financing to help airlines upgrade their fleets at critical time for the aviation industry”

Antares names loan head successor following retirement
Peter Nolan, head of loan syndicate, sales and trading at Antares Capital is set to retire from the $27 billion firm

Edelweiss collects $900 million for Indian private credit fund
Canada’s Ontario Teachers’ Pension Plan Board, Florida’s State Board of Administration, Swedish Pension Fund AP4 and one European insurance investor were among the investors who allocated to the $900 million fund

Credit Rendezvous: sometimes you have to dive deep to find value
Some parts of the credit market are fraught with danger, but that does not mean portfolio managers are avoiding them entirely, according to the Credit Rendezvous, Creditflux's 10-page quarterly report eaturing comments from 15 credit experts

US private credit Q3 default rate halves to 4.2%: Proskauer
US private credit default rates fell in the third quarter to 4.2%, half of the 8.1% recorded in Q2, according to law firm Proskauer’ Private Credit Default Index

Alantra buys 49% stake in European direct lender
Alantra has bought a 49% stake in European mezzanine and junior private debt manager Indigo Capital, which it says will consolidate its position in the French sponsorless market and accelerate its growth in Italy and other European geographies 

Triton reaches €744 million final close for second credit opportunities fund
Triton Partners has collected €744 million on a final close of a second credit opportunities fund, Triton Debt Opportunities II, exceeding its €550 million target