BMO returns with first US middle market CLO since 2021
BMO Asset Management late last week priced Great Lakes CLO VII, a USD 404.87m middle market CLO

Goldentree closes on USD 1.4bn private credit fund
GoldenTree Asset Management announced the closing of its Private Credit Fund today, with secured commitments of USD 1.35bn

Vermont pension system commits USD 125m to private credit
The Vermont Pension Investment Commission recently approved two separate allocations to private credit, totaling USD 125m

Manulife holds final close for USD 752m private credit fund
Toronto-headquartered Manulife Investment Management held the final close of its Manulife Capital Partners VII at USD 752m

Sidley hires Paul Hastings' partner
Sidley Austin has added a new partner in the law firm's global finance practice, representing direct lenders, private credit funds and banks

Hamilton Lane closes eighth vintage of flagship private credit fund
Hamilton Lane revealed the final close of its Hamilton Lane Strategic Opportunities Fund VIII today, a private credit strategy that invests across the capital structure

Carlyle's head of direct lending departs
Carlyle's Head of Direct Lending has left the firm to pursue other opportunities, according to a company memo

Funds round-up: Feb-2024 - managers turn to European wealth
European private credit managers turn to the wealthy in our roundup of notable fundraising in February 2024. 

Brevet Capital names new chief commercial officer
Boutique financial advisor Brevet Capital has promoted Mei-Li da Silva Vint to chief commercial officer

Maryland pension system allocates USD 30m to private credit
The Baltimore City Employees' Retirement System has approved two commitments totaling USD 30m for private credit funds

New Mexico sovereign wealth fund approves another USD 350m for private credit
Santa Fe-based fund invests in two managers as it focuses more heavily on direct lending, asset-based lending and special situations

RR ABS returns with new Vista deal
The growing market for recurring revenue securitizations saw a boost last week with the pricing of VCP RRL ABS III

Boston retirement system hunts for managers for USD 60m allocation to private debt
The Boston Retirement System has issued a request for proposals to investment managers in an effort to allocate up to USD 60m to private debt strategies

Wave of legal hires becomes a tsunami
In February alone legal heavyweights Allen & Overy, DLA Piper, Fried Frank, Kirkland & Ellis, Proskauer Rose and White & Case all announced the arrival of partners in the credit space

Texas-based pension system commits USD 90m to direct lending fund
The City of Austin City Employees' Retirement System, or COAERS, has committed USD 90m to the Blue Owl Diversified Lending Fund

PennantPark goes short for latest MM CLO
The primary CLO market saw a rarity yesterday when PennantPark Investment Advisers priced the first short-dated middle market CLO of the year

Dallas retirement system allocates USD 60m to credit funds
The Dallas Employees' Retirement Fund has allocated USD 60m to three separate credit funds as the Texas-based system grows its allocations to private credit and distressed debt

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