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 

Jefferies stokes middle market with new CLO
Middle market CLO issuance has slowed a little in recent weeks, but that changed last week when Jefferies Credit Partners priced its first deal in 13 months

Trinity Capital partners with Eagle Point to launch new credit fund
Venture debt specialist Trinity Capital and CLO equity investment firm Eagle Point Credit have launched a new credit fund intended to become a private BDC

Illinois pension system looks for manager for USD 550m private credit allocation
An Illinois pension fund is on the lookout for a new specialist to manage its private credit portfolio, according to a 19 July request for proposal

Private credit default rate rises sharply, according to new report
The second quarter of 2024 saw a further increase in the default rate for US middle market companies, according to legal firm Proskauer's latest report

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

Lloyds Bank joins forces with Oaktree for European direct lending platform
Lloyds Bank and Oaktree Capital Management have formed a new multi-year European direct lending facility

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

Double digit returns tempt Middle Eastern investors to allocate to private credit
Investors in the Middle East are allocating billions to private credit. The trend is just getting started, with investments in the region expected to grow.

Rapid growth shows middle market CLO no longer BSL’s little brother
Middle market CLOs, the once niche sector that securitises private credit loans, is seeing a growth spurt. What was a junior partner to the much larger BSL world is now a sizeable entity of its own.

Alternative PE lending puts pressure on LP-GP alignment
Loans that use fund NAV or GP earnings as collateral are growing in popularity. But some feel these deals could have unforeseen effects and hinder transparency in LP relationships

Credit funds at a glance
Top indices; recent hires; recent fundraising

Oak Hill teams up with One Investment for European private credit
US-based Oak Hill and One Investment ink JV with USD 5bn to invest in upper middle market and large European companies 

Temasek’s asset manager to buy minority stake in a private credit firm
Seviora Holdings agrees to purchase Hong Kong-based ADM Capital for an undisclosed sum

Blue Owl scoops up Atalaya Capital for USD 450m
Private credit manager Blue Owl Capital is raising the stakes on its place in the USD 1.7trn global market with the purchase of asset-based credit specialist Atalaya Capital

New York retirement system allocates USD 400m to credit co-investment vehicle
The New York State Common Retirement Fund has invested USD 400m in a credit fund-of-one

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

French asset manager launches impact credit fund for European SMEs
 A Paris-headquartered alternative asset manager held the first close of its SME-focused direct lending fund at EUR 200m

Nordic private credit fund raises EUR 500m
Ture Invest Partners has held the final close of the third vintage of its private credit fund having reached its target at roughly EUR 500m

New direct lending business formed after management buyout
503 Capital Partners, a new direct lending business, has been formed as part of a management buyout of Tortoise Capital Advisor's private credit arm

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