Bain is back with first mid market CLO in four years
Bain Capital is back just two weeks after pricing their last CLO with a new US middle market CLO, the first for the Boston-based manager since 2019.

Massachusetts Water Authority narrows proposals for opportunistic credit search
Massachusetts Water Resource Authority Retirement System narrows opportunistic credit fund recipients down to three candidates. 

Veteran lawyer moves from buyside to law firm

A seasoned private funds lawyer will join Gowling WLG's investment funds team in London.  

Antares closes second senior loan fund with $6 billion
Private credit manager closes second round of senior loan fund with roughly $6 billions in commitments. 

Golub rearranges direct lending leadership team

Golub Capital promoted several members of its direct lending leadership team as the firm continues to grow.

ABL lending fund completes final close with $1.7 billion in commitments
Asset-based lending fund accepts $1.7 billion in capital commitments from a global set of institutional and retail investors. 

New Mexico State Investment Council plans to commit $600 million to private credit
New Mexico State Investment Council commits $600 million to two private credit managers during June meeting. 

Monroe Capital completes latest acquisition
Monroe Capital acquires venture debt lending firm for undisclosed amount. 

Man Group moves into US private credit with new acquisition
Man Group is buying US middle market lender Varagon Capital, according to a company announcement, in a $183 million deal due to complete in Q3 2023.

Large LPs turn to net asset value tools to finance private equity portfolios
NAV financing has a long history as a tool for private equity managers to get new capital into older funds, but now interest from creative institutional investors is widening its appeal.

Making chances
From co-investments to stakes in junior capital and distressed credit, delegates at the Debtwire Private Credit Forum heard the sector offers a range of opportunities, even with deal-flow down

Points up front
Get off the bus, but don't despair

Ventura County continues to invest in private credit funds
Ventura County approves $50 million for two private credit funds as target allocation increases.

Oaktree promotes head of performing credit
Oaktree shuffles its C-suite, announcing major changes for 2024's first quarter. 

Medalist Partners doubles size of private credit fund in final closing round
Medalist Partners enters final closing stages of its most recent private credit fund, nearly doubling the size of capital commitments from previous funds. 

Alaska Retirement Management Board commits $100 million to direct lending fund
It may be a tough environment for fundraising but the private credit market continues to pull in investments, with the Alaska Retirement Management Board agreeing to give up to $100 million to a fund

PennantPark's mid market CLO volumes pass $2 billion after latest new issue
PennantPark Investment Advisors teamed up with BNP Paribas on Friday to print a new middle market CLO named PennantPark CLO VII

Oaktree closes life science fund with highest amount ever raised in the space
Oaktree Capital Management has raised more than $2.3 billion for its Life Sciences Lending Fund, the largest amount the firm has ever raised in the life sciences space.

L Catterton expands credit platform with new co-head of private credit
L Catterton's private credit platform is in expansion mode, announcing a new managing partner and co-head of private credit

Private credit firm launches new platform for structured financing
Private credit manager Victory Park Capital has launched Triumph Capital Markets, a new platform that focuses on structured financing and capital markets

Carlyle names future CFO
Carlyle has named John Redett its new chief financial officer and head of corporate strategy, the company has said.

Private credit is still the number one topic for investors, hears conference
Delegates at the Debtwire Private Credit Forum 2023 heard that private credit has become the favourite topic for institutional investors

Letter from the editor
It’s a curious thing to come back to your beginning, but that’s where I find myself, writing this letter as the new editor of Creditflux. I first joined 17 years ago, fresh out of university. 

We pulled back because yields didn’t seem to match the risk. Now it’s better
During visits to Melbourne and Sydney last month, conversations with clients and friends about private debt revealed important contexts to understanding how investors there think about the asset class.

Credit funds at a glance
Fund raising and people moves