ABF increases the lending toolkit – Apollo co-head of asset-backed finance Bret Leas
PODCAST: Bret Leas, co-head of asset-backed finance at Apollo Global Management, says asset-backed financing has contributed to a significant widening of the financing toolkit, on the latest edition of the Credit Exchange podcast with Lisa Lee

New York State Common Retirement Fund commits USD 200m to Oak Hill's CLO fund
The pension fund has committed the funds to OHA CLO Equity Fund III, which will target investments in North America and Europe

Blackstone raises USD 1.6bn for new high-yield ABF strategy
The alternative asset management giant is targeting USD 4bn for its new high yield, private-asset-based finance fund

BoE to update on private credit stress test before Christmas
EXCLUSIVE: An exploratory scenario test for private credit is in the works, following risk warnings from Governor Andrew Bailey

Tikehau surpasses target on private credit secondaries fundraise
EXCLUSIVE: The latest fund, which has yet to close, has already racked up more than USD 750m

Corporate Europe kicks on with ECM, M&A plans as US market fears grow
Best year for European corporate equity capital markets and M&A since 2021, but storm clouds forming in US AI valuations and private credit

Expect more corporations to default – JPMorgan head of global credit financing Jake Pollack
“The idea that default rates will go up over time is not particularly difficult to get to,” says Jake Pollack, head of global credit financing and North America credit trading at JPMorgan, on the latest Credit Exchange podcast with Lisa Lee

Private credit's public pivot – crisis play or permanent shift?
Participants see model evolving from crisis response to structural strategy, as pricing gaps, disclosure rules and mindset barriers still hold asset class back

IMF sounds alarm on bank exposure to private credit
A new IMF report found that the growing appeal of non-bank financial institutions, such as private credit funds, poses a risk to global financial stability

Värde appoints head of ABF, hires ex-KKR MD
The appointments come as the firm looks to expand in the asset-based finance sub-sector of private credit

There’s tremendous fragility in the system – PGIM’s co-CIO Greg Peters
PODCAST: “Underneath is a lot of volatility. Companies are struggling. You’re seeing really wide dispersion,” says Greg Peters, co-chief investment officer at PGIM Fixed Income, on the latest episode of Credit Exchange with Lisa Lee

Mizuho taps head of sponsor coverage and levfin for EMEA
The bank named Waqaas Lone to the role and also appointed a deputy head of sponsor coverage and leveraged finance for the region

SocGen targets third-party capital for new private credit vehicle
EXCLUSIVE from DW: Substantial commitment to seed fund, attract external investors; Laurent Petit heads private debt team after rejoining from Amundi in 2023
 

First Brands' distorted balance sheets serve as warning to private credit lenders – Market React
Company secured fresh debt despite missing payments to Onset Financial; Special committee investigates double invoice pledging

CVC closes latest European direct lending fund with EUR 10.4bn
The firm’s fourth fund, EUDL IV, has already committed to more than 30 investments

Deutsche Bank’s Florian Jacob named head of private corporate credit at DWS
Jacob’s appointment will build on the existing DWS and Deutsche Bank private credit partnership

Aviva’s new pension strategy to allocate 20%-25% to private markets
My Future Vision has partnered with Neuberger, KKR, Apollo and others to deliver private markets access to pension savers 

Apollo launches sports lending strategy with new hires
The sports and live entertainment-focused strategy will invest in private credit and hybrid capital solutions opportunities

HSBC AM launches evergreen fund targeting trade, working capital assets
The new private credit strategy will invest in assets such as receivables and payables finance, trade loans and other instruments around the world

Deutsche Bank, DWS and Partners Group to launch alts fund for wealthy European investors
The new private markets fund will be available in the third quarter and distributed to the bank’s qualified private clients

Apollo to launch three evergreen funds in Europe to tap individual investors
Apollo has secured regulatory approval in Luxembourg for three semi-liquid evergreen private markets funds including two credit ones

Clearstream deal broadens access to BlackRock’s private market evergreen funds
New agreement will expand wealth manager access to BlackRock’s private market solutions

Crescent hires MDs for significant risk transfer strategy
The private credit manager’s bank capital solutions strategy focuses on credit risk-sharing deals

Hayfin hires two MDs for product and sales
The two managing directors will join the firm’s partner solutions group that focuses on creating new products and reaching new investors

Private credit has won the buyout financing game – Churchill’s Randy Schwimmer
PODCAST: “Long-term, I think the game is over from a buyout perspective. I think private capital has won that game,” says Randy Schwimmer, vice-chairman and chief investment strategist at Churchill Asset Management, on the latest episode of Credit Exchange with Lisa Lee