Managers advise caution despite upbeat outlook for private credit
The golden age of private credit isn’t over yet. In fact, industry experts remain bullish, anticipating continued growth in our breakdown of recent outlooks for the market

Private credit hit by growing pains as agreements get longer and execution slows
The rapid rise in private credit continues to stir up excitement among borrowers. But, despite the sector’s competitive advantages — such as speed of execution and light regulation — deals are taking longer to close as the industry expands.

Low margins and scarcity of LBOs hurt term loan revenues
Despite a resurgence in global term loan B (TLB) volume, which grew by 30% to reach $416.6bn as of December 2023, revenue earned by arranging banks on these facilities only totalled $3.0bn

Fund performance
Q4 has kicked off with structured finance funds leading the way in the Creditflux league tables, as the category index reached 0.61%, and all but one fund made positive returns.

Credit hedge funds
Credit hedge fund performance

Credit funds at a glance
Credit funds at a glance

Greensledge arranges new private credit CFO
Churchill Asset Management, an investment-specialist affiliate of Nuveen, announced on Monday it had closed its second collateralised fund obligation, or CFO

Is direct lending on the rebound? - Debtwire Special Report
After a slow start in 2023, direct lending in both the US and Europe has been on the rise, with volumes in Q3 almost doubling compared to the previous quarter

HSBC AM launches revolving credit facility strategy
New approach will expand access to revolvers as a diversifier to traditional private credit strategies

Private credit lending continues to surge, according to AIMA report
Lending grew by more than 60% between 2021 and 2022 according to a new report entitled "Financing the Economy," by the Alternative Credit Council, a private credit affiliate of the Alternative Investment Management Association.

Pensions pivot from vanilla private credit to focus on niche sectors
Retirement and pension funds continue to pump money into private credit, enticed by the prospect of higher returns. But as the market grows, more are turning their attention to niche sectors, such as ESG-oriented investments and specialised credit.

Fund performance
No autumnal fall for CLOs as category rises to 16.1% year to date

Credit hedge funds
Hedge fund performance tables

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

Brookfield infra debt fund beats fundraise target
Brookfield Asset Management has held an above-target final close for its third infrastructure debt fund, in a sign of strong appetite for debt in contrast to tough fundraising conditions in infrastructure equity

Oak Hill raises USD 2.3bn for distressed fund
Oak Hill Advisors secured USD 2.3bn in equity commitments during the final close of its distressed investment fund, the OHA Strategic Credit Fund III

Capital Four named new sub manager of high yield bond fund
Danish boutique asset manager Capital Four revealed on Tuesday that it will take over sub-management of the Nordea 1 - International High Yield Bond Fund, as the firm continues to build out its investment capabilities in the US

Boutique asset management firm partners with Australian credit fund manager
A new global credit fund will focus on long-only credit opportunities with the intent of capitalizing on inefficiencies in the credit cycle

Credit PMs predict global recession
Respondents to the latest IACPM credit outlook survey were feeling particularly gloomy, with a strong majority predicting recessions in both the US and Europe next year

BlackRock creates ESG-focused credit fund
BlackRock launches new strategy as interest in private credit and sustainable investments continues to grow

Loan Highlights 3Q23: Loan volumes remain significantly lower than historical averages
Capital markets loan activity continued to struggle in the third quarter of 2023, as issuers in the Americas and Europe held off from tapping markets

Fund performance
Positive August for credit sees CLO funds on top again

Credit funds at a glance
Ucits see red in a tough June for returns

Credit hedge funds
Credit hedge funds performance data

Societe Generale teams up with Brookfield for €10 billion private debt fund
New fund launched with €2.5 billion of seed funding and plans to reach their target over the next four years