State Street launches public-private market fund, leaning on Apollo
The new fund is designed for the US retirement channel and provides private market exposure through a pooled investment vehicle managed by Apollo

Audax prices unusual mezz-only mid-market refi
The deal saw the double As price 90bps narrow of the untouched triple As

Oak Hill Advisors fundraising multi-strategy private credit fund for wealthy investors
EXCLUSIVE: the new fund is currently only accepting accredited investors but intends to eventually open the product to the wider wealth channel.

Mid-market CLO refis price from Cerberus and PennantPark
The two deals both priced their senior triple As at SOFR plus 135bps

Massachusetts, midwest pensions disclose recent private credit moves – Public Pensions, Private Pursuits
ANALYSIS: Massachusetts, Michigan pensions reveal private credit investments totaling USD 225m, Illinois Municipal Retirement Fund commits USD 50m to Pemberton   

Coller Capital buys USD 1.6bn portfolio, claiming largest senior direct lending secondaries deal
The private markets secondaries specialist has acquired a senior direct lending portfolio from a multiline US insurer

Apollo’s MidCap resets second mid-market deal in quick order
The reset of middle market CLO Woodmont 2023-11 Trust followed shortly after the manager had repriced another such deal

BlackRock, a traditional asset manager no more – CEO Larry Fink
In his latest annual letter to investors, Chairman and CEO Larry Fink lays out his ambition to index private markets and bring these illiquid assets to the masses

Guggenheim alums to head new Hoplon-backed private ABS shop
The new platform just finished a USD 1.35bn IG securitization of internet identity service assets

Antares resets another super-sized middle market CLO
The transaction added USD 72m in equity and USD 450m worth of triple A paper

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  

PennantPark prints second new middle market CLO in two months
The private credit deal priced the top of the stack at SOFR plus 145bps

Total fees paid to direct lending funds dip as yields fall —Cliffwater
Institutional investors in direct lending funds are paying fewer dollars in performance fees despite private credit managers refusing to lower fee rates

Lincoln Financial partners with Bain, Partners Group on private credit products for US wealth channel
Lincoln aims to launch the two new private credit products in late 2025

Private credit managers consider smaller fund targets
ANALYSIS: Some private credit managers are considering a smaller fundraise, bucking the convention of always aiming for bigger funds 

CalPERS reveals USD 3.9bn in private credit commitments
Public Pensions, Private Pursuits: CalPERS discloses 3Q24 private credit commitments, invests USD 16.9bn in 2024, and Connecticut, Oregon, Indiana, Texas, Jacksonville make investments   

State Street, Apollo’s private credit ETF launched before addressing all regulatory concerns - SEC
The SEC published an open letter implying that the industry’s first private credit ETF launched this week without getting proper approval.

State Street and Apollo win the private credit ETF race
The industry’s first private credit ETF will invest in investment grade private credit and investment grade public fixed income

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  

Large cap deals generating higher percentage of private credit defaults, S&P says
Larger private debt deals were also more likely to include a payment-in-kind feature

Maine, Louisiana, San Jose, Kern County pensions make new private credit investments, plot future moves
Public Pensions, Private Pursuits: Maine PERS to further increase exposure to TPG Angelo Gordon’s direct lending arm

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

NYS, San Francisco, Arizona, Virginia, Texas, Fresno County disclose nearly USD 1.3bn private credit commitments

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