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Steven Cohen’s Point 72 taps Blackstone veteran to build private credit strategy
6 months ago
Point72 has hired Blackstone's Todd Hirsch as head of private capital to build a new investment strategy focused on private credit -
Daniel Loeb’s Third Point agrees to acquire Birch Grove
6 months ago
Billionaire Daniel Loeb’s Third Point said it will acquire AS Birch Grove from American Securities, in a move designed to expand the hedge fund's credit capabilities, according to a press release -
UBS forecasts strong private credit returns in 2025, but also downside risks
6 months ago
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 -
Barings hires Churchill MD for private debt originations
6 months ago
Barings Global Private Finance has hired a managing director from Churchill Asset Management to serve as a managing director for North America Private Credit -
BlackRock resets middle-market deal from 2022
6 months ago
BlackRock has reset a middle-market deal called BlackRock Maroon Bells MM CLO, simplifying the top of the deal’s structure in the process -
HPS deal is expensive but catapults BlackRock into private credit top five
7 months ago
BlackRock is poised to become one of the largest private credit managers in the world after agreeing to buy private credit manager HPS Investment Partners at a rich 30x multiple -
Public Pensions, Private Pursuits: 18th November
7 months ago
CalPERS reveals USD 2.9bn private credit commitments as Sacramento, East Bay, San Francisco refine debt strategy -
Brookfield Credit invests USD 1bn in 17Capital
7 months ago
Brookfield Asset Management’s private credit investment division, Brookfield Credit, has agreed to invest USD 1bn into 17Capital’s private credit strategies -
Crayhill nears USD 1bn target for an asset-based credit fund
7 months ago
Crayhill Capital Management has raised more than USD 830m, approaching its USD 1bn target, for a asset-based credit fund called Principal Strategies Fund III, according to a SEC filing -
LPs monitor private credit managers as PIK use rises
7 months ago
As the use of payment-in-kind in direct lending increases, LPs are worried that the tool is being co-opted by the wrong strategies and offered to low-quality borrowers -
The second Trump presidency is likely to turbocharge already frothy markets
7 months ago
The impact of Trump’s second term in the Oval Office will be wide-ranging for the US and the world. For credit markets, his return to power portends more intense competition between banks and private credit, and frothier deals. -
Fortress Credit prints its second new middle-market CLO of 2024
7 months ago
The senior triple-As priced at 159bps in Fortress' second private credit CLO, a full 61bps tighter than the manager's previous deal back in January -
Barings adds two private credit MDs for North America
8 months ago
Barings Global Private Finance has hired two managing directors, Brian Polomsky and Doug Koch, for its North America Private Credit team from Principal Asset Management -
Antares sets new AAA tight for a middle-market CLO (again)
8 months ago
Antares beat its own triple-A benchmark when it priced Antares CLO 2024-6 with a senior spread of SOFR plus 156bps -
PIK use rises to 12% of sponsored direct lending deals - KBRA
8 months ago
Sponsor-backed companies using payment-in-kind for senior debt now account for 12% of the KBRA DLD Direct Lending Index, an increase of 1% from the last quarter -
Direct lending defaults decline for all except middle market according to Proskauer
8 months ago
Default rates for US direct loans declined to 1.95% in the third quarter of 2024 from 2.71% in the second quarter, according to a new report from law firm Proskauer -
First Eagle resets middle-market CLO
8 months ago
A reset of Lake Shore MM CLO IV, a 2021 vintage middle-market CLO, saw the triple As split into note and loan tranches, which both priced at 170bps -
TPG Angelo Gordon raises nearly USD 2bn for private credit strategy
8 months ago
TPG Angelo Gordon has raised USD 1.82bn so far for its private credit fund called TPG AG Credit Solutions Fund III which is targeting USD 4.5bn in commitments
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Apollo raises USD 4.8bn for large cap direct lending
8 months ago
Apollo Global Management has closed its Apollo Origination Partnership Fund II, raising approximately USD 4.8bn of investable capital -
Fidelity adds another senior private debt hire as US expansion continues
9 months ago
Fidelity Investments has hired Lendell Thompson from Vista Credit, the latest of six senior investment professionals added to its US direct lending business -
Desperate direct lenders kept in the dark as private equity firms call shots
9 months ago
The intensifying fight for sparse private credit opportunities is enabling M&A bankers to keep lenders in the dark -
MidCap resets brings in middle market CLO senior spreads 110bps
9 months ago
Apollo affiliate MidCap Financial's reset of a static middle market CLO from 2023 led to an eye-catching reduction in the triple-A spreads -
A new manager debuts as Willow Tree prices middle-market CLO
9 months ago
The CLO world welcomed a new manager on Tuesday when Willow Tree Credit Partners printed its debut CLO: a middle-market deal arranged by GreensLedge -
Comvest reshuffles credit leadership as Falk steps back
10 months ago
Michael Falk, Comvest Credit Partners' co-founder and chief executive officer, has now assumed the role of executive chairman -
Barings prices reset of 2023 middle market CLO
10 months ago
Barings has reset a 2023-vintage static CLO into a reinvesting deal, bringing in the triple-As 77bps at the same time
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