BlackRock hires former KKR official to head European private capital markets
A leveraged finance veteran has joined BlackRock as European head of the firm’s private capital markets business in London, according to an internal memo seen by Creditflux

Direct lenders face ebitda-add back language challenges as borrowers seek flexibility

Californian pension allocates $325 million to aviation and corporate private credit
San Francisco County Employees’ Retirement System has allocated $325 million to private credit strategies, according to 11 March board minutes

Direct Lending Perspectives underlines record-breaking 2019 issuance
European direct lending volumes hit €18.2 billion in a record-breaking 2019, according to the European Direct Lending Perspectives report by Creditflux and Debtwire

Direct lending allocations could pick up as public markets feel the pain
Direct lending should withstand the volatility roiling the public credit markets, said a pension fund advisor, an allocator and a private credit manager

Coronavirus dampens fundraising but unlocks opportunities, say direct lending event attendees
Direct lenders could see ample opportunity for capital deployment as volatility takes hold of the term loan B and high yield markets amid Coronavirus uncertainty - and fund investors should not hold off from committing any capital 

Solar raises $525 million for direct lending fund
Solar Capital Partners has collected $525 million for its latest private credit funds

Metrics pulls plug on direct lending fundraising
Australian direct lender Metrics Credit Partners has pulled the plug on fundraising for its listed private debt fund

Crayhill collects $130 million for second asset-based credit fund
Crayhill Capital Management has raised around $130 million for it second asset-based credit fund,  according to 9 March US regulatory filings

Ares hires head of ESG from Partners Group
Ares Management Corporation has appointed a head for its environmental, social and governance (ESG) practice, effective from April  

Vida promotes marketing specialist to CIO
Vida Capital Management has appointed a new president and chief investment officer, effective 1 March

Goldman Sachs in talks to buy minority stake in Permira
Goldman Sachs is looking to buy a minority stake in private equity firm Permira

NXT launches first direct lending fund since Orix takeover
NXT Capital is back in the market fundraising for its sixth direct lending fund, NXT Capital Senior Loan Fund VI, according to US regulatory filings 

PE firms look to go it alone as credit units reach maturity
Private equity firms are starting to weigh up the merits of housing private debt businesses, with TPG Capital the latest to contemplate splitting with its credit business TPG Sixth Street. It follows EQT Capital, which announced a strategic review in January centred on parting ways with its credit unit.

BDCs tap bond market to improve funding mix
A plethora of business development companies have turned to the institutional bond market to refinance their debt.

Real assets are now the top picks in private credit
Direct lending is no longer the darling of the private credit market, with pension funds increasingly making space for credit strategies backed by real assets.

EIF backs Italian private debt fund
Finint Investment anticipates €150 million final close for its third Italian private debt fund in June, after receiving the backing of the European Investment Fund

Fortress digests CraftWorks bankruptcy
CraftWorks Holdings filed for Chapter 11 bankruptcy yesterday, with Fortress Investments holding all of the Tennessee restaurant operator's first lien debt - of which over half is in middle market CLOs. The New York-based firm has submitted a “stalking horse” bid to buy CraftWorks' assets

Weak loan collateral will dent private credit returns, says Finnish pension
Valtion Elakerahasto, the state pension fund of Finland, says non-existing or weaker loan collateral has raised concerns about the returns private credit funds will generate in the coming years  

Rhode Island to step up private and 'opportunistic' credit investments
Rhode Island State Investment Commission, which manages the Employees’ Retirement System of Rhode Island, plans to increase its allocation to private credit and what it terms opportunisitic credit, according to investment consultant Cliffwater

Minnesota pension slates $600 million to four credit funds
Minnesota State Board of Investments has earmarked $600 million to four credit funds

Ohio pension makes commitment to private credit
School Employees Retirement System of Ohio is set to introduce a 5% private credit allocation to its portfolio  

Kartesia hires former Santander official to lead UK senior debt origination
Kartesia has appointed former a Santander official to lead UK senior debt investments 

US pension looks to put $60 million in private debt as older funds wind down
Boston Retirement System considers committing an additional $60 million to its private debt programme in 2020, following a recommendation by its investment consultant NEPC,  

Calpers backs proposal exempting private debt disclosure
Calpers, the largest US pension fund, is looking to sponsor a proposal exempting California pension funds from disclosing private debt information under the California Public Records Act