Tariffs will increase defaults – Blackstone
The alternative asset management giant also said the private credit market is providing financing that previously would not have been available in times of dislocation like this

Marathon ditches distressed strategy to raise USD 2.7bn for opportunistic credit
EXCLUSIVE: The asset manager originally launched the fund with a distressed debt strategy but has since switched the focus to making opportunistic private credit and equity investments  

CVC blows past fundraising target on its European direct lending fund
The alternative investment manager has already increased the fundraising target once for the 2023 vintage fund  

StepStone to launch private debt vehicle for European wealth investors
The ELTIF will invest in private credit asset classes across the European Union

Oaktree lowered its distressed debt fundraise to USD 16bn
The market and investment environment for distressed debt shifted, and investors asked whether the original target was too big.

Candriam partners with Kartesia on private debt fund for European retail investors
European private debt firms Candriam and Kartesia are launching a private debt fund for individual investors via European Long-Term Investment Fund 

GP-led deals to reach 50% of credit secondaries volume in 2025: Jefferies
Private credit secondaries volume will be increasingly driven by GP-led transactions this year, said Jefferies in a report

UBS forecasts strong private credit returns in 2025, but also downside risks
UBS Global Research has tipped double-digit returns for US investors in its 2025 private credit outlook, but emphasised the risks are skewed to the downside

BlackRock launches first evergreen private markets fund for Europe’s wealthy
BlackRock has announced the launch of an innovative evergreen private markets platform for wealthy investors in Europe

Altice France reminds creditors that unrestricted subsidiaries can be freely spun-off
Altice France's debt documents permit the XpFibre spin-off, and most credit agreements and high yield bond indentures permit the distribution of the equity in unrestricted subsidiaries

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

Deals and prospective deals create optimism about European M&As
After years of lacklustre activity, M&A and LBO green shoots are emerging in Europe

Europe still leads US in SRT as banks diversify types of risk transferred
Despite copious headlines about the arrival of US banks to the significant risk transfer (SRT) market, Europe continues to lead the charge

European direct lending firms raise record funds in third quarter
European direct lending fundraising jumped up a notch last month, as year-to-date figures almost doubled in a few final closes

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 

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

Fund performance
CLOs feel the heat from corporate long-short and ucits funds in July; top ten credit funds in July 2024

Investors gear up for busy autumn at Goldman Sachs LevFin conference
More than EUR 20bn in bonds and loans is due to launch over the coming months, though the M&A pipeline looks relatively light

German manager launches two new private credit fund-of-funds
YIELCO Investments, a German alternative asset manager, is planning a 2024 first close for two newly launched private debt fund-of-funds

Connecticut pension allocates USD 300m to Oaktree’s distressed credit fundraising
Connecticut pension system commits to Oaktree latest flagship distressed credit fund

Blackstone reports 18% return from private credit over last 12 months
Blackstone's private credit and liquid credit returns outperform private equity investments in the last 12 months

M&A activity on fire in private credit despite overall M&A slowdown
The M&A market has had a rough time in the past 12 to 18 months, but there’s one area that’s bucking the trend: private credit

Funds roundup: June 2024
Private credit funds keep getting larger — some reaching billion-dollar status — while demand for niche solutions, such as interval funds and special situations, continues to escalate

Secret structured credit product becomes talk of the town as US opens up
What was once an opaque corner of structured credit has been in the spotlight, as the booming SRT market draws attention from growing numbers of banks and investors.

CLO funds maintain strong start to 2024 to stay top year to date
The first quarter of 2024 has been a memorable one for CLO funds, as the category continues its dominant spell, claiming 7 of the top 10 spots in March