Direct lenders ‘cruise,’ but watch for tariff impact
Private credit managers, investors of all types and service providers gathered in Nashville for DealCatalyst’s annual private credit conference

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

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

Middle market private credit default climb significantly to 4.7% – Proskauer
The US direct lending market saw a big increase in middle market defaults in the fourth quarter of 2024

PIK use rises to 12% of sponsored direct lending deals - KBRA
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

TPG Angelo Gordon raises nearly USD 2bn for private credit strategy
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
   

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

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

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

BlackRock keeps up issuance with new middle market CLO
In a flurry of activity, BlackRock followed its Magnetite XVII reset last Tuesday with a new middle market CLO deal the following Wednesday, just outside the tightest such deal recorded so far this year

Texas pension system commits USD 100m to direct lending
The Texas County & District Retirement System recently allocated USD 100m to a direct lending fund at its 1 April meeting

Chicago pension system allocates USD 40m to private credit
The Policemen's Annuity and Benefit Fund of Chicago approved two commitments to private credit totaling USD 40m at its 24 January meeting

Golub keeps up the pace with big static BSL CLO
Golub has returned to the market with another typically sizeable offering, adding the fifth-largest deal of the year to their portfolio 

Barings shrugs off team liftout with new private credit deal
Barings is putting up a fight in the private credit market despite the dramatic loss of 20 members, acting as lead agent on a new private credit deal

Big is beautiful for latest Antares MM CLO
Last week saw Antares Capital Advisers price its first new CLO of the year, a giant middle-market deal that also priced extremely tightly

Refi of PennantPark V middle-market CLO tightens triple-A by 90bps
Pennant Park has refinanced its PennantPark V CLO, a middle-market deal from late 2022

Apollo launches new BDC backed by Mubadala
Apollo has created a new private BDC that will invest money from Abu Dhabi-based sovereign wealth fund Mubadala Investment Company, in addition to other institutional investors.

BMO returns with first US middle market CLO since 2021
BMO Asset Management late last week priced Great Lakes CLO VII, a USD 404.87m middle market CLO

Funds round-up: Feb-2024 - managers turn to European wealth
European private credit managers turn to the wealthy in our roundup of notable fundraising in February 2024. 

Wave of legal hires becomes a tsunami
In February alone legal heavyweights Allen & Overy, DLA Piper, Fried Frank, Kirkland & Ellis, Proskauer Rose and White & Case all announced the arrival of partners in the credit space

PennantPark goes short for latest MM CLO
The primary CLO market saw a rarity yesterday when PennantPark Investment Advisers priced the first short-dated middle market CLO of the year

Audax adds bumper MM CLO
Audax Private Debt added to this week’s parade of middle market deals, pricing the second-largest MM CLO of the year on Wednesday

HPS prices new private credit CLO
This week has seen increasing amounts of deal flow emerging in middle market CLOs, and HPS Investment Partners joined in on Wednesday, pricing its first deal of 2024

Private credit CLO AAAs hit 190 as Ares prices new Ivy Hill deal
Ares Capital, via Ivy Hill Asset Management, added weight to middle market CLO issuance last week with a new USD 450.8m deal