As direct lenders seek efficient, scalable financing tools, private credit CLOs are growing fast
PCLOs have reached USD 135bn, or 13% of the overall CLO market

Partners Group seeks to more than double private credit AUM
The alternative investment firm plans to grow private credit AUM to more than USD 70bn and could consider acquisitions

Wendel announces purchase of majority stake in Monroe Capital
French investment firm Wendel announced on Tuesday it has agreed to acquire 75% of US private credit firm and CLO manager Monroe Capital for USD 1.13bn, as part of its planned expansion into third-party asset management.

Blackstone reports 18% return from private credit over last 12 months
Blackstone's private credit and liquid credit returns outperform private equity investments in the last 12 months

First Eagle prices the market’s second MM refi of 2024
First Eagle last week priced a rare refinancing of a private credit deal - Lake Shore MM CLO II, a middle-market CLO from 2019

Golub raises USD 2bn for sixth credit opportunities fund
Golub Capital has held the final close of the sixth vintage of its credit opportunities fund, raising USD 2bn

Antares hires CSAM managing director
Antares Capital has hired a new managing director and global head of product strategy and development from CSAM

Billion-dollar Adams Street CLO is private deal for single investor
New details have emerged of the unusual billion-dollar middle market “CLO” that Adams Street Partners closed last week

185bps settles in as MM CLO benchmark as Cerberus prices
Specialist middle market manager Cerberus added a second new issue to its 2024 roster on Friday, arranged by GreensLedge

BlackRock keeps up issuance with new middle market CLO
In a flurry of activity, BlackRock followed its Magnetite XVII reset last Tuesday with a new middle market CLO deal the following Wednesday, just outside the tightest such deal recorded so far this year

Muzinich hires head of alternative credit solutions and strategy
Muzinich has hired Rehan Virani in the newly-created role of head of alternative credit solutions and strategy as the New York and London-headquartered credit specialist continues to expand its private credit and CLO strategies

Golub resets 2019 vintage middle market CLO
Golub Capital Investment Management reset Golub Capital Partners CLO 46 last week

Golub keeps up the pace with big static BSL CLO
Golub has returned to the market with another typically sizeable offering, adding the fifth-largest deal of the year to their portfolio 

Deerpath prices new MM CLO
Deerpath Capital yesterday dipped its toe back in the primary market water for the first time since December

Big is beautiful for latest Antares MM CLO
Last week saw Antares Capital Advisers price its first new CLO of the year, a giant middle-market deal that also priced extremely tightly

Blue Owl pulls off tight reset for 2020 middle market CLO
Another Covid-era middle market deal was restructured yesterday, as Blue Owl pulled the trigger on a USD 395.31m reset 

Refi of PennantPark V middle-market CLO tightens triple-A by 90bps
Pennant Park has refinanced its PennantPark V CLO, a middle-market deal from late 2022

DWS expands in London with new senior investment manager role
London-based Roscoe Roman has joined German asset manager DWS, in the newly created role of senior investment manager for alternative credit (EMEA)

CLO managers laud market’s shift away from direct lending
This year’s annual SFVegas shindig had a record 8,900 registered delegates, and every CLO panel included a discussion of two key themes, including the highly publicised fight between the broadly syndicated loan space and private credit lenders.

Arrangers optimistic on prospects for CLO-like recurring revenue deals
Recurring revenue (RR) securitisations, one of the more obscure corners of the ABS market, are seeing a surge of interest, according to market sources, with at least three deals in the pipeline.

Moody’s helps European private credit CLOs move step closer to reality
Talk is again swirling in the European CLO market that this will be the year a middle market deal is priced. Many market participants remain sceptical given the long history of disappointments in this area, but concrete steps are being made, especially by the rating agencies.

Credit hedge funds
Credit hedge funds

Credit funds at a glance
Credit funds at a glance

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

Direct lender and CLO manager expands into Japan
The US private credit and direct lending specialist has opened its first Japanese office, and hired a new senior VP to oversee the office