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

ABPCI reduces equity size in reset of 2017 middle market CLO
AB Private Credit Investors on Friday printed a reset of ABPCI Direct Lending Fund CLO II, the second reset of the 2017 vintage deal

Deerpath resets debut MM CLO for the second time
Deerpath Capital Management has priced a reset of US middle-market deal Deerpath Capital CLO 2018-1, the first-ever CLO from the manager

Blue Owl prices first tech private credit CLO with 5Y RP
Blue Owl has printed a new middle-market CLO dubbed Athena CLO IV which is the first technology CLO with a 5-year reinvestment schedule

Jefferies stokes middle market with new CLO
Middle market CLO issuance has slowed a little in recent weeks, but that changed last week when Jefferies Credit Partners priced its first deal in 13 months

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

Rapid growth shows middle market CLO no longer BSL’s little brother
Middle market CLOs, the once niche sector that securitises private credit loans, is seeing a growth spurt. What was a junior partner to the much larger BSL world is now a sizeable entity of its own.

Boston pension system selects new private credit manager
The Boston Retirement System has selected a new manager and made a commitment to its private debt strategy, according to recently released minutes

California retirement system provides seed capital to BDC
The California State Teachers' Retirement System is not just allocating to private credit, but forming a new direct lending partnership

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

New survey explores middle-market CLO operations
S&P Global Market Intelligence, in collaboration with Creditflux, conducted a study of middle-market CLO managers to assess how specialists are adapting their operations to tap this burgeoning opportunity

Cresset teams up with ORIX's NXT for direct lending partnership
Cresset will provide the capital from its USD 500m private credit fund in exchange for access to NXT's origination machine

Massachusetts retirement system seeks manager for senior direct lending strategy
The Quincy retirement system is looking to invest about USD 4m in senior secured debt. 

Comvest aims to become the first debut US manager of the year
Comvest Capital Advisory Services is in the market with its debut CLO: Comvest Credit 2024-1 CLO, a middle-market deal. The deal will make Comvest the first new US CLO manager of 2024. 

SFERS commits another USD 75m to private credit
The San Francisco City & County Employees' Retirement System's latest commitment to private credit comes in the form of a USD 75m allocation

Middle market CLO reset spreads tighten dramatically in new Golub reset
Golub had a busy Friday last week, with a reset of a massive middle-market deal from 2018 showing the tightest such triple A spreads this year

Another US MM CLO reset prices from Deerpath
The reset of the 2021-vintage middle-market Deerpath Capital CLO 2021-1 equalled 2024 tights for this type of deal

Golub signs strategic partnership with Nassau Financial Group
The private credit manager announced the partnership with Nassau Financial Group, including an investment of USD 200m in equity into Nassau's insurance arm

Private credit veteran returns to Barings
Barings is rebuilding its private credit team with the return of a veteran private credit alumni as a managing director in its global private finance group

2020 vintage MM CLO gets a reset
PennantPark has priced its third middle-market CLO offering of 2024, a reset of a 2020-vintage CLO that was the manager’s second transaction

Golub hires from MetLife for new insurance solutions team
Golub Capital has launched a new insurance solutions team, as the firm continues its multi-year plan to build out its investor partners group

Middle market portfolios aren't immune to rate stress, according to new research
Two research reports published this week highlighted ongoing risks in middle market structured credit portfolios