Ares negotiates sub line lending solutions with banks
Ares Management is upping its subscription line lending activity. It has agreed a new partnership with Investec and is talks with a number of other banks

AlbaCore’s new hire Luke Gillam sees space for smaller private credit managers in Europe
Gillam, who started this week at AlbaCore as its new head of senior direct lending, spoke to us about the opportunities for smaller managers in European direct lending

Corinthia eyes EUR 1bn first close for maiden European direct lending strategy
Corinthia is on the cusp of holding a EUR 1bn first close for its inaugural European direct-lending strategy, four sources familiar with the situation said. 

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.

Apollo raises USD 4.8bn for large cap direct lending
Apollo Global Management has closed its Apollo Origination Partnership Fund II, raising approximately USD 4.8bn of investable capital

Blue Owl and other managers seek organic private credit growth in Europe
Memo to US investment firms seeking to attract European capital: you may want to set up shop here

Diversification is driving direct lending allocations in Italy and Canada
In recent visits to Milan and Toronto, we heard how private capital is becoming accepted as a core allocation in institutional investment portfolios

Nuveen Private Capital taps Ares partner for private wealth distribution
The platform encompassing Churchill Asset Management and Arcmont Asset Management, has hired Moshe Bajnon for the newly created position of global head of private wealth

Adams Street raises additional USD 289m for evergreen fund
Adams Street Partners has corralled an additional USD 289m for an evergreen direct lending fund that launched in 2020

BNP Paribas AM raises EUR 90m for private debt fund of funds
A new fund of funds from BNP Paribas AM will target European special situations by investing in 6 to 8 private debt funds 

Coller Capital launches secondaries private credit fund for affluent Europeans
A new private credit secondaries fund is offered to professional and qualified investors across a wide range of European countries

Blackstone makes two senior hires for infra lending and asset-based credit
Blackstone has hired two senior managing directors to focus on infrastructure and asset-based lending as members of the greater BXCI team

HSBC launches first NAV financing strategy
HSBC Asset Management has continued its expansion into private credit with the launch of another new strategy

Private credit stands its ground against stiff competition from banks – Market Chatter
Despite an initial wave of fretting and fanfare, direct lenders have largely managed to retain an edge by proactively cutting margins on loans

Euro refinancing flows reverse as public debt supplants private according to S&P
S&P Global Ratings has assigned new ratings for nine European issuers of leveraged buyout structures refinancing private debt in public markets

Credit hedge funds
Credit hedge fund performance for July 2024

Credit funds at a glance
Fund performance; recent fundraising; recent hires

LBP AM raises EUR 300m for French private credit strategy
Paris-based manager LBP AM held a successful close raising EUR 300m for its small and mid-cap focused senior secured debt fund

ICG holds largest ever European direct lending fundraise
ICG Senior Debt Partners V broke records with a final close at USD 17bn (approximately EUR 15.2bn), the largest European direct lending fundraise to date

KBRA hires Scott Duggal as it raids buy-side, sell-side, and journalism
Ratings agency KBRA has turned to the buy-side, sell-side, and journalism for a raft of senior hires in Europe

Corinthia Global Management eyes deployment in 4Q24
The upstart direct lender sued for lifting more than 20 staff from Barings is preparing to begin deploying capital as it announces a flurry of senior appointments

AXA Investment Managers completes acquisition of European private credit firm CAPZA
French-based AXA IM Alts has completed the purchase of European private credit and private equity firm CAPZA

BNP Paribas raises EUR 741m for direct lending strategy
BNP Paribas Asset Management has completed the close of its third European senior private credit fund 

Chorus expands SRT origination team
SRT specialist Chorus Capital has hired Penny Tan as a director and senior originator from ArrowMark Partners 

Park Square raises EUR 3.4bn for direct lending strategy
Park Square continued its long standing partnership with SMBC as the cornerstone of a Eureopan direct lending fundraise