Ares lowers 2024 tights with new middle market CLO
Ares continued its busy year with its 22nd transaction – a new middle market CLO that set a new triple-A tight for 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

New Mexico pension system allocates USD 150m to private credit
The New Mexico State Investment Council is diversifying its European exposure with a new private credit fund commitment

Barings prices reset of 2023 middle market CLO
Barings has reset a 2023-vintage static CLO into a reinvesting deal, bringing in the triple-As 77bps at the same time

Temasek raises USD 1.3bn for Asian private credit fund
Temasek's SeaTown Private Credit Fund II, which focuses on performing credit opportunities in the Asian Pacific, has closed

Antares plans unit buying private credit loans from other lenders
Antares eyes buidling out a private credit secondary business to buy loans from other lenders

Access Pool plans to allocate GBP 350m to direct lending
UK-based pension system Access Pool is looking to allocate to direct lending strategies in Europe and the US 

White Oak expands ABL unit with addition of new managing director
White Oak hires Matthew DeBernardo to help generate new business across the US in asset-based lending and factory facilities   

KKR raises more than USD 800m for its second Asian credit opportunities fund

HighVista aims for USD 500m for third private credit fund
HighVista raised USD 78m as the Boston-based alternative asset manager targets USD 500m for its third private credit fund 

Channel Capital launches fund that taps into Goldman Sach’s European private credit

Paul Hastings hires partner from Simpson Thacher & Bartlett
New York-based Ismael Duran will join the Paul Hastings’s finance and private credit practices from Simpson Thacher & Barlett 

GoldenTree taps PNC alumni Punhani for private credit team
GoldenTree has hired Avineet Punhani as a principal on the firm's private credit team as the asset managers seek to grow the business

Churchill raises more than USD 350m for junior capital debt fund
Churchhill Asset Management raised funds for junior capital direct lending to sponsor-backed US companies

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

Non-bank venture debt lenders see increase in deals after tough 2023
Venture debt is making a comeback. In the first half of 2023, following the collapse of Silicon Valley Bank (SVB), the volume of deals was just USD 3.5bn

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