CalPERS invests USD 16.2bn in private debt, mostly through custom accounts
The institutional investor committed USD 12.2bn to the asset class across 17 customized investment accounts in the past 12 months  

Former Morgan Stanley MD, ex-CalPERS CIO launch opportunistic credit shop
The new firm, Square Nine Capital, has offices in New York and Los Angeles

LP secondaries sales can create risk to subscription lines – Fitch
However, a diversified limited partner base and lower advance rates for more concentrated funds can help mitigate losses, a report says

Nomura public-private credit fund opens to the masses with SEC rule change
EXCLUSIVE: The new SEC regime repealed a decades long rule preventing non-accredited investors from gaining access to most private market asset funds

Greenberg Traurig adds private funds lawyer from Clifford Chance
The new hire is part of the firm’s effort to grow its corporate private funds group

Goldman launches its ninth mezzanine private debt fund
The latest fund follows the USD 15.2bn West Street Mezzanine Partners VIII that closed in 2023

US middle market could offer good, unlevered returns in downturn—Kayne Anderson
The growth of BDCs and third-party valuation firms have also led to better practices in the industry, co-head of private credit strategies Douglas Goodwillie said

Energy, not software, will drive the next decade – Apollo's John Zito
Private credit is poised to fund those necessary investments in energy and power and help large companies diversify their capital sources

New York, Texas among pension systems taking new private credit actions
New York State Common Retirement Fund commits over USD 700m to ICG strategies, while Texas, DC, Los Angeles pension funds also disclose recent private credit investments

Antares closes debut continuation vehicle with USD 1.2bn
Ares Credit Secondaries helped lead the transaction

Silver Rock raises USD 3.4bn, approaches final close for tactical private credit fund
EXCLUSIVE: The firm will invest across the private credit markets, pursuing deals in areas such as corporate credit, real asset credit and specialty lending

Clearlake seals largest new direct lending deal for Dun & Bradstreet
Ares leads deal, taking USD 1.5bn; Morgan Stanley, Clearlake Capital Markets, Golub and Blue Owl also helped arrange the largest new unitranche ever

Arena raises more than USD 1bn for multi-strategy credit
The firm held a final close for its latest flagship fund

Clearlake, direct lenders plan to ink USD 5bn private credit loan for Dun & Bradstreet
EXCLUSIVE: A group of direct lenders led by Ares are wrapping up a USD 5bn term loan and USD 500m revolver, prepping to sign commitment documents within hours

Millenium-backed Lane42 launches public-private credit strategy
The new firm also made a series of senior hires that previously worked at Apollo, Oaktree Citadel, Oak Hill, and Kirkland

Connecticut, San Francisco among funds making new private credit moves – Public Pensions, Private Pursuits
EXCLUSIVE: Connecticut plans commitment to Anchorage Capital distressed credit funds; San Francisco, North Dakota, and Dallas funds disclose recent commitments

PNC Bank to buy Aqueduct to grow fundraising service capabilities
The acquisition will add to the existing capital advisory services provided by PNC subsidiary Harris Williams

Crestline raises USD 1.7bn to lend to private asset funds
The firm held a final close on its third net-asset-value fund called Portfolio Finance Sentry Fund

Former Platinum Credit MD joins multi-manager platform Schonfeld
Jordan Stevens previously served as a senior credit deal lead for Platinum Equity’s private credit platform

Cleary hires Goldman Sachs MD for capital solutions, private credit
The law firm welcomed back the partner to focus on private credit originations

Beach Point raises more than USD 1.25bn for opportunistic private credit, real estate debt
The alternative asset manager held a USD 750m final close for its latest and largest opportunistic private credit fund

SEC to consider opening private funds to retail investors
US retail investors, deemed too small and unsophisticated to invest in private assets like private credit, represent trillions in untapped assets

Private equity will help private credit weather troubles – Neuberger Berman’s Susan Kasser
People fail to give the private equity funds the credit they deserve, Susan Kasser, head of Neuberger Berman Private Debt, says on the latest ‘Credit Exchange with Lisa Lee’ podcast

Kayne Anderson to debut private BDC to tap affluent investors
EXCLUSIVE: Private BDCs, pioneered by some of the largest direct lenders in the market, are becoming a common vehicle across the private credit manager industry

Invesco raises more than USD 700m for distressed debt, special situations investments
Invesco Credit Partners III has yet to hold a final close and has already surpassed the size of its predecessor