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

September 2024 US Leveraged Highlights
While new money activity in the loan market reached its highest point in the last 18 months in 3Q24, it remains significantly lower than historical averages

LBOs on the rebound: How leveraged loans are stealing the spotlight from direct lenders in 2024
2024 has seen a resurgence in LBO activity, with many of the largest deals opting for leveraged loans over direct lending for financing

Fidelity adds another senior private debt hire as US expansion continues
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
The intensifying fight for sparse private credit opportunities is enabling M&A bankers to keep lenders in the dark

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

Comvest reshuffles credit leadership as Falk steps back
Michael Falk, Comvest Credit Partners' co-founder and chief executive officer, has now assumed the role of executive chairman

Irradiant raises USD 219m for CLO investing
Irradiant Partners raised USD 219m from investors for a CLO Opportunities Fund 

Davis Polk hires three fund formation lawyers from Debevoise
Law firm Davis Polk is growing its investment management practice with the addition of three new partners joining in New York

Blue Owl raises USD 400m in 12 months for direct lending fund
New York-based Blue Owl Capital has now raised approximately USD 1.9bn to date for a diversified lending fund, including USD 400m in the last 12 months

Public Pensions, Private Pursuits: 5th-9th July 2024
Florida, Wisconsin, and Vermont pension systems disclosed new private credit commitments, while the New York State (NYS), New Mexico, and Alameda County, California funds planned future mandates

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

iHeart secured group advisors in confidential talks with company
iHeartMedia, still an important name in the US CLO market, is back in the news, potentially impacting 482 different CLOs

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

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

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. 

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

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