Octagon launches debut direct lending fund seeded by Generali Investments
EXCLUSIVE: Generali Investments has agreed to provide seed capital for Fund I, which will pursue sponsor-backed direct lending deals in the middle and upper middle market    

Large cap deals generating higher percentage of private credit defaults, S&P says
Larger private debt deals were also more likely to include a payment-in-kind feature

Alaska ups private credit co-investing to combat fund fees
The Alaska Permanent Fund Corporation faces fee drag of around 15% for the asset class

Maine, Louisiana, San Jose, Kern County pensions make new private credit investments, plot future moves
Public Pensions, Private Pursuits: Maine PERS to further increase exposure to TPG Angelo Gordon’s direct lending arm

JPMorgan to kick start private debt fund for wealthy individuals
Structured as an interval fund, JPMorgan Asset Management plans to use the fund to invest across direct lending, asset based finance and distressed debt investments.

Neuberger Berman raises USD 1.6bn for asset-based finance
The majority of investors from the predecessor fund committed capital to the latest Fund III

Moody’s names global head of private credit after Ana Arsov departure
Ana Arsov, who most recently held the position, has left the firm

AIMCo private markets head departs as New York office shutters
The New York office, open for just a year, was established last February to accelerate the growth of the institutional investor’s private credit portfolio and source investments

Former Fortress Partner joins Star Mountain
The new managing director Cohan joins the investment team and will be based on the west coast  

Antares launches private credit fund for wealthy individuals
The new vehicle, started with USD 1.4bn in investable capital, will target the private wealth channel, a growing investor base to the private credit asset class

Invesco closes fundraising for flagship direct lending with USD 1.4bn
Direct Lending Fund II will pursue senior secured loan investments in the middle market

NYS, San Francisco, Arizona, Virginia, Texas, Fresno County disclose nearly USD 1.3bn private credit commitments

Cresset sells private credit portfolio to StepStone, spins out private investing biz
Cresset’s head of private credit and other members of that team are not joining StepStone and will not be part of the private investing spinout 

Private credit firms raise funds beyond flagships
Private credit firms are raising eye-watering amounts to lend to companies — but they are increasingly doing so outside their flagship funds in order to attract institutional investors.

Need for scale fuels BDC consolidation
Business development companies (BDCs) — a popular type of private credit fund vehicle — have been merging to gain scale and lower costs, and more consolidations are expected in 2025.

Mezzanine funds broaden offerings as borrowers seek customisation and flexibility
Private credit managers are using mezzanine funds to pursue a wide range of deals across the capital structure as borrowers seek customised financing.
 

Go upmarket when investing in credit, says Oak Hill's Schrager
Senior managing partner at Oak Hill Advisors, Alan Schrager, discusses private credit volumes, cross-currents in credit markets, and issues including tariffs and defaults in Credit Exchange with Lisa Lee podcast

Zips Car Wash pursuing bankruptcy to facilitate hand off to lenders
Financial sponsor Atlantic Street Capital is preparing to hand over control of portfolio company Zips Car Wash to its direct lenders through a Chapter 11 bankruptcy process

Balbec raises USD 1.7bn for global ABL fund
Alternative investment manager Balbec has closed on its 6^th flagship fund that has already called 51% of commitments

Moelis hires from Jefferies for private funds global head
Moelis & Company has nabbed Matt Wesley from Jefferies to lead the private funds advisory business

Trinity Capital eyes launching European debt fund
Private credit manager and BDC Trinity Capital is mulling a dedicated European fund

17Capital hires MD from Barclays to grow NorthAm presence
NAV specialist 17Capital has hired Ari Landsberg as managing director for investments in North America

Antares hires Olga Kosters to head credit secondaries
Antares Capital has hired Olga Kosters to head its credit secondaries business

GP-led deals to reach 50% of credit secondaries volume in 2025: Jefferies
Private credit secondaries volume will be increasingly driven by GP-led transactions this year, said Jefferies in a report

Oaktree expands asset-based finance team with hires from Atalaya and Goldman
Oaktree Capital Management has increased staff for its asset-backed finance group