Search for diversification begins as direct lenders predict uptick in defaults
Amid the buzz of private credit there are doubts, as headwinds have caused the market to become cautious as competition increases.

Credit funds at a glance
Top performers, recent hires and recent fundraising

By raising billions, private credit funds are causing a seismic shift in leveraged finance
Private credit funds are amassing a huge war chest that’s permanently changing the complexion of the leveraged finance market

Unlike the fast and furious movers in public equities, private credit delivers steady income streams
With little way out short of refinancings or company sales, portfolio construction is everything in private credit. How loans perform reflects directly into investor returns. 

Guardian transfers USD 30bn of assets to HPS as partnership deepens
Insurance company Guardian will increase its minority equity stake in HPS and transfer USD 30bn of assets as part of expanded strategic partnership 

Janus Henderson inks deal to buy private credit manager Victory Park 

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

Balbec raises more than USD 753m for sixth opportunistic credit fund
Balbec Capital has raised USD 753.26m for InSolve Global Credit Fund VI, the sixth vintage of its flagship opportunistic credit fund

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

Churchill launches private credit fund with USD 210m
Churchill Asset Management, an affiliate of global investment manager Nuveen, has launched a new private credit fund

US MM CLO Rankings - July 2024
Our latest rankings for the US MM CLO market, including arranger and manager league tables

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

TPG Twin Brook raises nearly USD 4bn for fifth direct lending fund
TPG Twin Brook has revealed the close of its fifth direct lending drawdown fund — TPG AG Direct Lending Fund V

Texas bank launches direct lending division
Dallas-headquartered bank Texas Capital is expanding into the private credit market with the launch of a new direct lending platform 

Paul Hastings hires structured finance partner in London
Paul Hastings has hired a new structured finance lawyer who specializes in bespoke asset-backed finance transactions

Vector launches special situations private credit fund
A San Francisco-based private equity firm has launched a new private credit special situations fund, and is aiming to raise USD 300m

Ares closes USD 34bn senior direct lending fund
Ares has closed what could be the largest direct lending fund ever with nearly USD 34bn raised, including USD 15.3bn in equity commitments

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

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 

Hayfin agrees to Arctos-backed management buyout
The management team at Hayfin Capital Management is taking over the company in a management buyout backed by Arctos Partners

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

Japanese bank SMBC launches first private credit fund
Sumitomo Mitsui Banking Corporation has launched its first private credit fund with EUR 450m in investable capital

Churchill hires from FS Investments to grow wealth channel
New York-headquartered Churchill Asset Management has hired a new managing director and head of investor relations, retail & wealth