Blackstone prices BDC CLO
The past few days have seen a bevy of action in the middle market CLO space – alongside Barings’ double deal and the new Athena II CLO from Blue Owl, Blackstone priced its first offering in the private credit space, with an upsized USD 492.665m transaction.

Scotia adds middle-market lead arranger credit with new Guggenheim CLO
Fresh off the back of its first CLO as sole structuring and lead placement agent, Scotiabank has followed up almost immediately with its second lead role in as many days, arranging Guggenheim’s new USD 475m middle-market CLO

PGIM pushes into the middle market with Windhill CLO 1
The latest in a brace of middle-market CLOs to hit the primary market this week was PGIM’s Windhill CLO 1, arranged by Natixis, which marked the manager’s debut in the middle market 

Barings prices two deals in a day
In a highly unusual move, Barings yesterday priced two middle market CLOs, worth a combined USD 862.15m, within hours of each other

Private credit lending continues to surge, according to AIMA report
Lending grew by more than 60% between 2021 and 2022 according to a new report entitled "Financing the Economy," by the Alternative Credit Council, a private credit affiliate of the Alternative Investment Management Association.

Knoxville pension system commits USD 10m to direct lending fund
The pension fund is making its first direct lending allocation as it explores the asset class 

Pensions pivot from vanilla private credit to focus on niche sectors
Retirement and pension funds continue to pump money into private credit, enticed by the prospect of higher returns. But as the market grows, more are turning their attention to niche sectors, such as ESG-oriented investments and specialised credit.

Private credit investors hail ‘golden age’ of rapid growth and low regulation
The “golden age” of private credit has arrived as investors take market share from banks, according to Scott Rosen, partner at Ares Management

Credit hedge funds
Hedge fund performance tables

Credit funds at a glance
Fund performance; people hires; fundraising 

ESG initiatives should avoid unfavourable reactions by pursuing substance over form
By any financial measure, the collaboration of trans activist Dylan Mulvaney with Bud Light hurt the brand. What was formerly America’s best-selling beer saw its market share collapse — from over 35% in May 2023 to around 9% in June — because of a boycott by US conservatives after a 60-second TikTok video aired of Mulvaney drinking it.

First Eagle hires new senior alternatives strategist
First Eagle Alternative Credit is in expansion mode with the hire of a new managing director, portfolio manager and senior alternatives strategist from Nuveen

Ares secures another USD 50m for direct lending fund
The Ares Senior Direct Lending Fund III, which had its first close in July, is expected to be larger than previous vintages

First CLO reissue since 2021 prices
Cerberus Business Finance has priced the first reissue since 2021, in a reworking of its Cerberus Loan Funding XXIX CLO, according to market sources. The transaction has been renamed Cerberus Loan Funding XLIII.

KKR receives USD 75m commitment for direct lending fund
A US pension fund has made a USD 75m allocation to KKR's evergreen strategy focuses on US upper middle-market borrowers

Churchill expands senior lending team
Churchill Asset Management is beefing up its senior lending origination team with the hire of two new principals

US MM CLO rankings - October 2023 YTD
Our latest rankings for US MM CLO issuance tp to the end of October

Kennedy Lewis closes USD 4.1bn opportunistic credit fund
Kennedy Lewis Investment Management has closed on its Kennedy Lewis Capital Partners Master Fund III at USD 4.1bn, exceeding its USD 3bn target

Ares raises USD 6.6bn for asset-based credit fund
Ares Management Corporation revealed the final close of its asset-based private credit fund Ares Pathfinder Fund II, reaching its hard cap at USD 6.6bn in commitments

Bain Capital and Smith Hill Capital team up for sector-specific private lending platform
New platform will focus on new loan originations and debt refinancing in the US hospitality sector

Private credit's 'golden age'
The "golden age" of private credit has arrived, according to speakers at the IMN's ABS East 2023 conference

Private equity firm poaches team of eight to launch private credit
Private equity firm LongWater Opportunities has launched a new US private credit and capital solutions strategy focused on the lower-middle market

Polen Capital adds senior member to private credit team
Polen Capital's private credit business has added a new senior director, private capital solutions who joins from Summit Partners

Fortress taps BlackRock for sponsor coverage hire
Fortress Investment Group has hired a new director to focus on sponsor coverage and origination in in Fortress’ credit business

Ann Arbor retirement system approves commitment to direct lending fund
The City of Ann Arbor Employees' Retirement System approved a USD 7m commitment to the PIMCO Private Income Fund