CVC adds senior Santander official to its European direct lending team
The former head of structured finance and origination at Santander has joined CVC Credit Partners as a managing director

HIG closes European small-cap special situations fund at $1.5 billion
HIG's distressed debt and special situations unit has closed held a final close for H.I.G. Bayside Loan Opportunity Fund V

Cheyne aims to capitalise on stress within direct lending as it closes €1 billion opportunistic fund
The fund seeks to capitalise on the accelerated sell-down of mid-market corporate loans by European banks

Highbridge refocuses on credit as it liquidates listed multi-strategy fund
Highbridge Capital Management has announced to investors in a multi-strategy fund that it is winding down the vehicle and refocusing its business exclusively towards credit

Senior figure rejoins Credit Suisse to head European capital markets
The bank is looking to build out its key European platforms - and has hired an official who left just last summer 

Private debt should alleviate the next downturn, says Paul Hastings
Private debt should soften the next downturn and not exacerbate it, according to a note published by law firm Paul Hastings

PSP's private debt portfolio generates 9.2% return
Public Sector Pension Investment Board (PSP) has generated a 9.2% one-year rate of return of its private debt portfolio, exceeding its 5.7% benchmark, 

US pension replaces Cliffwater with Meketa
Connecticut Retirement Plans and Trust Funds has selected Meketa as a consultant to oversee its opportunistic investments, which consists of direct lending and opportunistic credit investments, along with investments in hedge funds and real assets.  

US pensions funds allocate to Lone Star and Raven credit strategies
Two US-based pension schemes have invested in funds with exposure to credit, highlighting the appetite of institutional investors towards off-the-run asset classes.

Warsaw-based direct lender launches fund to invest in central and eastern Europe
The Warsaw-based private debt manager has received the backing of the European Investment Fund

Los Angeles pension fund narrows down global direct lending search to four managers
Los Angeles City Employees Retirement System (Lacers) has listed the finalists for a private credit mandate, according to an agenda document seen by Creditflux.  

Pemberton adds portfolio manager to trade finance team
According to the firm, there is "huge, untapped opportunity to transform trade receivables and supply chain finance into a liquid asset class"

Direct lending team to spin out of BlueBay and form new partnership with Dyal
BlueBay Asset Management has today announced that it is spinning off its €13 billion direct lending business

Direct lender hires head of credit as it closes in on European mid market CLO
BeSpoke Capital has made a big hire as part of a reorganisation of the direct lender’s business

Robus lifts soft-close from credit fund after capitalising on late-2018 correction
The soft close for Robus Mid-Market Value Bond Fund has been in place since October 2017

There’s pain to come for those who have become too greedy
Stephen Catling of Connection Capital takes our credit quiz

PE hold periods have shrunk but fast acquisitions can lead to botched integrations
Buyout multiples are likely to stay high – but moving fast and specialising can help firms make money

New kids on the block dominate awards

DWS backs away from planned ESG-style European CLO
DWS has dropped plans to launch a European CLO, sources say. It is unclear why DWS, the asset management arm of Deutsche Bank, has turned its attention elsewhere, but one source says that the capital-intensive nature of putting together risk retention-compliant deals likely weighed on the firm. 

Cairn teams with Mediobanca for European credit Ucits fund
The strategy will focus on four credit asset classes - financials, corporates, asset-backed securities and special opportunities 

Ohio pension backs GSO's upcoming European direct lending fund
Ohio Police & Fire Pension Fund (OP&F) has approved a $50 million commitment to GSO European Debt Fund II

Goldman Merchant Bank secures $4.4 billion senior debt capital to deploy
Goldman Sachs merchant banking division has closed its latest senior direct lending fund, Broad Street Senior Credit Partners II

Senior CVC official lands at direct lender Graycliff
He co-founded the firm's US mid-market lending platform