Recruiters predict renewed private credit hiring spree
While job-hopping has become commonplace in the post-pandemic landscape, companies are expected to slow hiring in 2024. But some sectors are bucking the trend, including private credit.

News in brief
Increasingly popular credit interval funds grow by $10bn in 2023 and New arrangers gather speed in US market

As the economic environment evolves, investors need to change too
Ten years ago, I became a regular contributor to Creditflux. It seems like yesterday — until we reread our debut submission.

Private credit funds are more stable, lower levered and more regulated than you might think
The private credit market’s steady and impressive growth has caused some pundits to voice concerns about an eventual bubble. While we expect there to be more dispersion in private credit funds’ performance in the coming years, we don’t see signs that a bubble is about to burst.

Audax adds bumper MM CLO
Audax Private Debt added to this week’s parade of middle market deals, pricing the second-largest MM CLO of the year on Wednesday

HPS prices new private credit CLO
This week has seen increasing amounts of deal flow emerging in middle market CLOs, and HPS Investment Partners joined in on Wednesday, pricing its first deal of 2024

Alternative asset managers increasingly tapping wealth channel for private credit fundraising
Wealthy individual investors have become increasingly appealing to alternative asset managers looking to raise money for private credit funds as asset managers look to broaden fundraising beyond institutional investors

Chris Flynn announces departure plans from First Eagle
First Eagle Alternative Credit has revealed plans to shake up its C-suite with the departure of President Chris Flynn in 2025, in addition to other senior-level changes

Ohio pension system allocates USD 50m to levered loan opportunities fund
The Ohio Police & Fire Pension Fund has committed USD 50m to a levered loan fund, the system's third private credit commitment for the plan year

Private credit CLO AAAs hit 190 as Ares prices new Ivy Hill deal
Ares Capital, via Ivy Hill Asset Management, added weight to middle market CLO issuance last week with a new USD 450.8m deal

Churchill adds new private credit CLO to roster
While most market attention in recent weeks has been on the BSL side of the ledger, Churchill announced the pricing of a new USD 298.06m middle market transaction on Friday, the third CLO from Nuveen Churchill Direct Lending Corp and its first of 2024

Silver Creek Capital hires BlackRock exec as co-CIO
Private credit manager Silver Creek Capital Management has hired BlackRock alumni David Matter as co-chief investment officer

Blue Owl prices third deal this year
Blue Owl has priced its second private credit CLO of 2024, and its third deal this year overall, with a near-USD 600m transaction on Wednesday

AB adds MM CLO reset to its roster
Although most attention over the past week has been focused on the BSL market, AllianceBernstein has been active in the middle market arena, with a reset of its 2019-vintage ABPCI Direct Lending Fund CLO V

Ares raises USD 22.4bn for US direct lending in 2023
Ares Management continues to see increased appetite for direct lending. The alternative asset manager's private credit team raised roughly USD 10.1bn in US direct lending commitments in Q4 of 2023

Canadian manager raises CAD 350m for new private credit fund
Canadian money manager Fiera Private Debt raised CAD 350m in the first close of its Fiera Private Debt Fund VII. The private credit strategy focused on senior-secured term debt of middle market Canadian companies.

PineBridge raises USD 1.7bn for third vintage of direct lending fund
PineBridge Investments has raised USD 1.7bn for the third vintage of its private credit fund, exceeding the firm's USD 1bn target

Texas retirement system allocates USD 100m to SRT credit fund
The Texas County & District Retirement System has committed USD 100m to the Chorus Capital Credit Fund V, according to recent investments listed on the Austin, Texas-based pension system's website

Antares resets 2019 vintage MM CLO
Antares Capital Management undertook its first primary market pricing activity of the year last week, with a middle market reset of a 2019-vintage deal arranged by SMBC Nikko

US MM CLO Rankings - January 2024
Our latest rankings for the US MM CLO market, including arranger and manager league tables

Bain goes back to its MM beginings with reset of BCC Middle Market CLO 2018-1
Bain Capital Credit delved into the archives for its latest deal, with a reset of its first-ever middle market offering, the 2018-vintage BCC Middle Market CLO 2018-1, pricing on Wednesday

Golub secures USD 40m for credit fund from Texas-based pension system
Golub Capital continues to grow its direct lending platform with new commitments, with the New York-headquartered middle-market giant securing a commitment of USD 40m from the pension fund for its GEMS Fund 6

Comvest hires Goldman Sachs exec for direct lending origination role
Comvest Partners has hired David Gibson as a managing director on the firm's direct lending investment platform Comvest Credit Partners

Charlesbank raises USD 1.5bn for third private credit fund
Charlesbank Capital Partners held the final close of its Charlesbank Credit Opportunities Fund III earlier this month with USD 1.5bn raided, exceeding its USD 1.25bn target.

Funds round-up: Jan 2024 - a positive start for the New Year
Asset managers continue to raise funds for private credit in our roundup of notable fundraising in January 2024.