Sixth Street to invest USD 13bn for Northwestern Mutual
Sixth Street and Northwestern Mutual have struck a deal that gives Sixth Street USD 13bn of the insurer’s assets to invest across its private capital strategies

Private credit manager Czech splits from Voya after two years
Czech Asset Management, a US private credit manager with around USD 5.5bn in assets under management, will separate from parent company Voya Investment Management

Golub acquires minority stake in insurer Nassau
Golub Capital has made a USD 200m minority, non-voting equity investment in Nassau Financial Group, a financial services company with insurance and asset management businesses  

Steven Cohen’s Point 72 taps Blackstone veteran to build private credit strategy
Point72 has hired Blackstone's Todd Hirsch as head of private capital to build a new investment strategy focused on private credit

Akin launches Capital Solutions group, reflecting private credit market shift
Law firm Akin Gump Strauss Hauer & Feld has created a new team combining lawyers across private equity, private credit and tax groups to address deals with both equity and debt characteristics

Ninety One taps Standard Chartered Bank exec to head alternative credit
Ninety One, a global investment manager with almost USD 171bn in assets under management, has appointed Alper Kilic to serve as head of alternative credit

A holiday funds roundup
A recap of end-of-year happenings as the industry kept moving right through the holidays and the new year celebrations

Princely Family of Liechtenstein’s LGT raises USD 2.17bn for latest credit fund
Royal family-owned LGT Capital Partners has successfully fundraised USD 2.17bn for its evergreen credit fund, according to an SEC filing  

Blue Owl delays fundraising launch of opportunistic credit fund
Blue Owl has put fundraising for its upcoming opportunistic credit fund on pause as it evaluates the market opportunity, according to sources familiar with the matter. 

PIMCO sees asset-based private credit opportunities growing as banks await regulatory clarity
PIMCO predicts the growth of asset-based finance because  theTrump presidency unlikely to stop regulation of regional banks   

Canyon Partners promotes co-head of private credit Kivitz to CIO role
Canyon Partners has tapped co-head of private credit Jeff Kivitz to serve as the firm’s next CIO, replacing outgoing Todd Lemkin

GP-led transactions set to fuel private credit secondaries in 2025 as deal sizes increase
Private credit secondaries volume has skyrocketed over the past year, and industry participants believe the momentum will continue into 2025 thanks to an environment ripe for GP-led transactions.

Private credit managers try to get creative in lacklustre fundraising environment
Facing a less-than-ideal fundraising environment, private credit managers are having to pull various levers to secure equity commitments for their latest funds.

UBS forecasts strong private credit returns in 2025, but also downside risks
UBS Global Research has tipped double-digit returns for US investors in its 2025 private credit outlook, but emphasised the risks are skewed to the downside

Connecticut pension fund joins new trend for evergreen fund-of-ones
The Connecticut Retirement Plans and Trust Funds’ investment advisory council has recommended a new private debt fund-of-one with an evergreen investment period to the pension board in the latest example of institutional investors seeking flexible vehicles.

Credit funds at a glance
Fund performance, recent hires, recent fundraising

MA Financial Group launches US private credit interval fund
MA Financial Group, a global alternative asset manager based in Sydney, Australia, has launched a US private credit interval fund managed by US business arm, MA Asset Management

FoxPath readies debut credit secondaries fund
New York-based FoxPath Capital Partners is in the process of launching its debut fund, which will invest in private credit secondaries

Barings hires Churchill MD for private debt originations
Barings Global Private Finance has hired a managing director from Churchill Asset Management to serve as a managing director for North America Private Credit

Carlyle raises over USD 7bn for credit opps fund
Carlyle today announced the final close of its third credit opportunities fund at USD 7.1bn in investable capital, marking the global investment firm’s largest credit fundraise to date

Silver Rock sells 42% stake to Mubadala
New York-based Silver Rock has agreed to sell a 42% stake to Mubadala Capital, but the two entities will continue to operate independently

HPS deal is expensive but catapults BlackRock into private credit top five
BlackRock is poised to become one of the largest private credit managers in the world after agreeing to buy private credit manager HPS Investment Partners at a rich 30x multiple

PGIM Fixed Income builds large cap direct lending with new hire
PGIM Fixed Income has picked up a former Texas Capital managing director as it builds out its large cap direct lending business 

BlackRock acquires HPS in USD 12bn deal
BlackRock has acquired HPS Investment Partners for USD 12bn in an all-stock transaction, creating a private credit franchise with a combined USD 220bn in client assets

PGIM to bring mezz fund back to market in 2025
PGIM Private Capital, the middle market private debt business of global investment manager PGIM, plans to launch its latest private credit mezzanine fund next year