Jamie Dimon’s JPMorgan is angling to be a major private credit lender. But it may come back to bite

Fund performance - February 2025
Structured finance leads, but all indices stay positive as 2025 begins

CLO manager M&A driven by search for talent and scale
Irradiant’s star investor Maji set to depart as firm is acquired

Oaktree lowered its distressed debt fundraise to USD 16bn
The market and investment environment for distressed debt shifted, and investors asked whether the original target was too big.

International trading systems were broken before Trump started smashing them up
Whether he succeeds in using economic might to assert US authority in the world, Trump will be brandishing the weapon of tariffs in an already fragile international trading system.

Credit funds at a glance - January 2025
Fund performance, recent hires, recent fundraising

Fund performance - December 2024
CLO funds cap off strong 2024 with yet another good month

Global Private Credit AUM to reach USD 3trn by 2028 - Moody’s
Global private credit AUM is poised to hit USD 3trn by 2028, Moody's predicts, with momentum expected to grow over the next three years

Carlyle’s AlpInvest and Mubadala establish fund financing partnership
Carlyle Group subsidiary AlpInvest Partners and Mubadala have set up a new credit co-investment partnership to provide portfolio senior fund financing on a global basis  

Fidelity Investments prices new US BSL CLO with AAAs at 131bps
Fidelity Investments, working through its CLO-management subsidiary Ballyrock Investment Advisers, has printed its second new US BSL deal of the year

Fund performance - Emerging markets index takes top spot in solid month for credit overall
September was another positive month for credit funds. In almost every category our indices were positive, and four strategies showed solid average returns of 1% or more. 

Mizuho takes minority stake in Golub, strikes distribution agreement
Mizuho Financial Group has acquired a passive, minority stake in Golub Capital’s management companies as part of a strategic partnership

Investcorp's head of European credit funds Philip Yeates leaves firm amid leadership shake-up
Philip Yeates, head of European credit funds at Investcorp, has left the firm as the asset manager undergoes a leadership shift that's seeing co-CEO Hazem Ben-Gacem set to depart later this year and executive chairman Mohammed Alardhi take on CEO duties

Neuberger raises more than USD 2.7bn for fifth private credit fund
Neuberger Berman is fundraising for a fund that provides direct loans to North American private equity-owned companies 

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

Investors flock to CLOs as interest rates stay high
A surge in demand from global investors combined with flat net supply has winnowed down yields in the USD 1.3tn CLO market. And the outlook is for another step down for spreads despite last month’s record issuance.

Funds round up: May 2024
The demand for SRT strategies and special situations funds are on the uptick, as is the demand for managers and funds outside of North America. 

Funds round up: April 2024
Allocations to private credit and new fund launches continued to roll out in April, as our monthly round-up confirms

IACPM survey finds credit PMs still gloomy, but less so than last quarter
Respondents to the latest IACPM Credit Outlook Survey are still negative about future credit conditions, but less so than in previous surveys

Funds round up: private credit reaches for retail
A number of new credit funds launched last month to round out 2024's first quarter, including ones in Europe aimed at retail investors

Global Loan Highlights 1Q24: Don’t call it a comeback
Loan refinancing share hits historic high, but IG issuance stymies YoY global growth

Monroe Capital expands in Middle East with new hire and Abu Dhabi office
Monroe Capital has hired Waleed Noor as managing director and head of Middle East distribution, as private credit funds continue to target LPs in the region

Credit hedge funds
Credit hedge funds

Credit funds at a glance
Credit funds at a glance

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.