Asset-based lending increasingly acts as private debt diversifier
Direct lender Bow River is the latest manager to acquire a lower middle market asset-based financing firm as investors seek to diversify existing private debt portfolios

KKR grows ABF business to USD 75bn, expands origination
The alternative asset manager acquired a majority stake in a biopharma royalties business this week to add to its asset-backed finance business

Competition is erasing 'spicy' returns for larger ARR loans – HighVista
Lenders are pressured to offer more leverage, and pricing is starting to match EBITDA-based loans

KKR, Capital Group expand partnership with plans for public-private market product
The private market specialist is joining forces with a traditional asset manager to better reach individual investors

First Eagle launches nontraded BDC that invests in US middle market private credit
The product will invest in directly originated, senior-secured, first lien loans to US middle market corporate borrowers

AXA IM Alts launches diversified private credit fund for individual investors
The new strategy will invest across the entire private credit spectrum, covering not just direct lending but also asset-backed finance

Private credit firms chase opportunities in asset based lending as US banks withdraw
Lending against assets is becoming the fastest growing part of private credit. The market is expected to grow from roughly USD 787bn in 2024 to more than USD 1.26trn in 2028, according to a report by Research and Markets, a data and statistics firm.

Credit hedge funds
Credit hedge fund performance

Evolution hires new managing director from JP Morgan
Evolution Credit Partners has added a managing director on the investment team, helping grow the Boston-headquartered firm's working capital finance and leveraged finance businesses

Funds round up: private credit reaches for retail
A number of new credit funds launched last month to round out 2024's first quarter, including ones in Europe aimed at retail investors

Ninety One launches infrastructure credit fund aimed at South African market
Asset manager Ninety One has launched the Ninety One SA Infrastructure Credit Fund, focused on the South African market

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

Patria launches new infrastructure credit fund

BNP Paribas launches climate impact infrastructure debt fund
BNP Paribas Asset Management has launched the BNP Paribas Climate Impact Infrastructure Debt fund as interest in impact investing and ESG-related causes continues to grow around the world

DigitalBridge closes USD 1.1bn digital infra credit fund
DigitalBridge has closed a digital infrastructure fund called DigitalBridge Credit (Onshore), raising USD 1.1bn in commitments

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

AEW poaches MD from BlackRock as the firm acquires Natixis' private debt business
The expanded European platform will include infrastructure debt and new investment products

Ohio pension fund commits $50 million to credit fund
The commitments mark the second time this year the Ohio-based system has allocated funds to private credit. 

SCRS sinks millions in private credit funds
Nine percent of the South Carolina system is already dedicated to private debt as it commits USD 50 million extra 

Maryland pension system commits hundreds of millions to credit funds
The Baltimore-based pension system made commitments to five private debt funds between June and September of this year

Arrow Global names new senior-level hires
London-based asset manager announces new CIO of credit and direct lending

Mount Street taps Dechert exec for client development role
The European-headquartered third-party loan servicer and credit asset manager is expanding Stateside. 

Credit funds at a glance (September 2023)
A round-up of people moves and fund raising  

Credit hedge fund returns (September 2023)
Credit hedge fund returns