Investors dump venture lender Hercules on plan for external manager
Shares in publicly traded business development company Hercules Capital fell sharply last week, after the company announced that it was switching from being managed internally to employing an external advisor

BlueBay, Brightwood and Permira win private debt mandates
BlueBay Asset Management, Brightwood Capital Advisors and Permira Debt Management have been tasked with overseeing a London pension fund’s direct lending portfolio

Former Apollo CIO quits troubled Fifth Street after four months
Fifth Street Asset Management announced yesterday that it has parted company with a founder partner of Apollo Global Management, brought in late last year as part of a shake-up at the company

Cerberus wins $200 million direct lending mandate from peace garden state
US pension money continues to be channelled into direct lending with officials at a $12 billion pension plan confirming an allocation to Cerberus

Start-up credit manager surpasses $2 billion in AUM in its first year
Owl Rock Capital Partners appears to have pulled off one of the most successful fundraising exercises of 2016 with regulatory filings indicating that the firm has earned commitments of $2.3 billion

BlueBay parts company with its head of German direct lending
Asset manager goes on the hunt for specialists following senior private credit departure 

PM leaves Stone Lion to reunite with former UBS colleagues
A distressed debt specialist has left troubled Stone Lion in order to link up with former colleagues who ran the special situations group at UBS

Mid-market lender LStar hires high profile credit official in New York
Lone Star poaches partner from BDC manager to head up direct lending business  

Pension fund pumps $220 million into direct lending in new credit push
A US pension fund, which has been a big backer of direct lending strategies, has recently increased its target allocation to credit. Its existing line up of mid-market managers have greatly benefitted.

US pension fund continues push towards direct lending
A US pension fund has agreed to put $155 million into direct lending funds in the last few months

Apollo-backed firm appoints interim head of direct lending
Ex-Barclays official takes interim direct lending head role with Alteri Investors 

Guggenheim backs out of deal to buy Hayfin, says Wall Street Journal
The sale of European credit shop Hayfin Capital Management to Guggenheim Partners is now unlikely to go through, according to the Wall Street Journal

Fortress hires European direct credit specialist from rival
Credit manager hires direct lending head after less than a year with rival in London