Trio of new Euro CLOs prints on busy Friday
The traditional rush to conclude deals in advance of the annual Global ABS conference in Barcelona saw a trio of new issues price on Friday, from Onex, Guggenheim and Rockford Tower

Investcorp launches AI investment framework for private markets
The asset manager has rolled out targeted argentic AI use cases across its portfolio, such as autonomous research, origination and reporting tools, and more

BCA’s chief geo-macro strategist says Iran war could result in surprisingly aggressive rate hiking cycle
PODCAST: Speaking with Lisa Lee on the latest episode of the Credit Exchange podcast, macro and geopolitical expert Marko Papic says there are a number of inflationary elements coming together that could lead to more aggressive action than previously expected by the Fed and other central banks

BDC portfolio stress may be overstated – Moody’s
BDC portfolios may be exhibiting less stress than recent headlines might suggest, as a Moody’s analysis finds that many discounted positions do not represent significant valuation deterioration

HSBC AM completes USD 2bn final close for second UK direct lending vintage
The strategy invests in senior secured loans to private equity-backed companies in under-served low-to-core middle market segments

Franklin Templeton launches investment-grade CLO ETF
Franklin BSP CLO ETF (YCLO) invests predominantly in IG CLO debt tranches across US and European markets

Fitch warns on credit risks for European CLOs coming out of RPs
Fitch has warned that European CLOs coming out of their reinvestment period could be vulnerable to market shocks due to asset depreciation and an inability to sell out of the lower mezz tranches

CQS prints second new European CLO for the year
Issuing with a vanilla capital structure, Grosvenor Place CLO 11 priced its triple As at Euribor plus 129bps

Cerba’s revised consent solicitation request approved by noteholders
French labs business issued revised consent solicitation; terms modified slightly to shorten grace period extension

Eurazeo closes its largest ever direct lending fund with EUR 3.9bn raised
Eurazeo Private Debt VII raised EUR 3.9bn at closing, exceeding its EUR 3bn target

Sculptor resets 2021-vintage Euro CLO
Sculptor European CLO VIII’s senior triple As were reset at Euribor plus 128bps, widening out from their pre-reset spread of 88bps over the base rate

PGIM launches new private credit UCI for European and Asian wealth investors
The Luxembourg-domiciled vehicle invests in senior secured loans to middle market companies in North America, Europe and Australia, targeting companies with EBITDA between USD 10m and USD 75m

Barings co-head of global investments says investors can expect to see more trading of private credit loans
PODCAST: Speaking on the latest episode of the Credit Exchange podcast with Lisa Lee, David Mihalick says it is natural to expect an increase in activity as people increase their portfolio allocations to private markets

First Eagle taps AlbaCore alum for alternative credit product sales
Edward Berry joins as a managing director in London and will help distribute the firm’s alternative credit products, including those under the Napier Park brand

Muzinich becomes third debut European CLO issuer in 2026
Global credit specialist Muzinich has priced its long-awaited first European CLO, with JPMorgan acting as arranger for the EUR 414.6m deal

Seqens loan slides, Konecta term loan B reverses losses
Weekly wrap-up of the European leveraged loan market

Oaktree partners with Pantheon to launch standalone European direct lending strategy
The partnership will have the capacity to grow to EUR 1bn of investable capital and is being seeded by an existing portfolio of European direct lending assets

Capital Group and KKR expand public-private investment strategy to Europe and Asia-Pacific
The Global Multi-Sector+ fund aims to provide current income by investing across multiple sectors in both publicly-traded fixed income securities and private credit securities

Fasanara readies debut European CLO for late summer
EXCLUSIVE: Fasanara is working on its first European BSL CLO, with pricing expected to take place in late summer or September 

The PMs leading the next wave of European CLO strategies
ANALYSIS: A series of high-profile hires have been made ahead of an expected influx of new European CLO managers this year

ECB warns of private credit cross-border risks, opacity
Private credit in isolation poses limited risks to financial stability, but the European Central Bank says it is still concerned about spillover

Goldman’s global co-head of private credit says dispersion in performance is increasing
PODCAST: Speaking with Lisa Lee on the latest episode of the Credit Exchange podcast, Goldman Sachs’ global co-head of private credit James Reynolds says LPs are currently flocking to quality and scale

Arcano upsizes newest European CLO
Spanish manager Arcano Partners has priced its fourth new CLO via Jefferies, with the transaction upsized to a target par of EUR 450m

Primary picks up pace and appetite for large transactions – Europe Loan Digest
Boluda, Warner Bros Discovery launch jumbo deals; strong technical supports opportunistic deals