Middle market private credit default climb significantly to 4.7% – Proskauer
The US direct lending market saw a big increase in middle market defaults in the fourth quarter of 2024

Mega direct lenders break records despite sluggish fundraising cycle
The new year kicked off with Ares Management showcasing the largest ever fundraise for a European direct lending strategy, suggesting that investors are preferring to pile into the largest private credit managers

Generali subsidiary Conning to acquire MGG Investment Group
Conning & Company will acquire a majority stake in US direct lending firm MGG Investment Group

Colbeck closes USD 700m fund for unsponsored direct lending
Colbeck Capital Management has raised USD 700m to invest in senior secured loans to unsponsored, middle market companies

BMO strikes partnership with firm founded by ex-CBAM’s Young and Damaso
BMO and Canal Road Group have struck a direct lending partnership that includes BMO taking a minority stake in the asset management company and investing up to USD 1bn 

Goldman Sachs launches capital solutions group for banking clients
Goldman Sachs is combining its financing, origination, structuring and risk management solution activities in global banking, and also named Vivek Bantwal as co-head of global private credit

Blue Owl raises more than USD 2bn for evergreen direct lending strategy
Blue Owl has raised more than USD 2bn for its sophomore direct lending fund that focuses on senior, first-lien loans

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

Silver Point closes on USD 8.5bn for direct lending fund, exceeding target
Silver Point Capital has held a final close for Silver Point Specialty Credit Fund III, raising USD 8.5bn for direct lending to middle-market companies, according to a press release. 

Allianz and AlTi launch new private debt program for UHNWs
Allianz X has struck a joint venture with global wealth management firm AlTi Global to create a private debt investment program for ultra-high-net-worth investors

PIK use rises to 12% of sponsored direct lending deals - KBRA
Sponsor-backed companies using payment-in-kind for senior debt now account for 12% of the KBRA DLD Direct Lending Index, an increase of 1% from the last quarter

Pantheon raises USD 1.19bn for latest private credit secondaries fund
Pantheon has raised USD 1.19bn in its latest fundraising for Pantheon Senior Debt Secondaries III, to invest in the private debt secondaries space

TPG Angelo Gordon raises nearly USD 2bn for private credit strategy
TPG Angelo Gordon has raised USD 1.82bn so far for its private credit fund called TPG AG Credit Solutions Fund III which is targeting USD 4.5bn in commitments
   

Corinthia eyes EUR 1bn first close for maiden European direct lending strategy
Corinthia is on the cusp of holding a EUR 1bn first close for its inaugural European direct-lending strategy, four sources familiar with the situation said. 

Wendel announces purchase of majority stake in Monroe Capital
French investment firm Wendel announced on Tuesday it has agreed to acquire 75% of US private credit firm and CLO manager Monroe Capital for USD 1.13bn, as part of its planned expansion into third-party asset management.

JPMorgan is in negotiations to expand roster of private credit partners
JPMorgan is in active negotiations to build a roster of private credit partnerships to bolster its presence in the asset class

Apollo prioritizes origination as dry powder pressures mount in private debt industry
Apollo's Rowan says sourcing deals will be the limiter of growth for his industry rather than finding capital, and will prompt more tie-ups with banks

Antares pursues private credit fund for affluent individuals
Antares has filed for a non-listed BDC that targests affulent individal investors for private credit

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 

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

Neuberger raises more than USD 2.7bn for fifth private credit fund
Neuberger Berman is fundraising for a fund that provides direct loans to North American private equity-owned companies 

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

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

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