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

Direct lending stress to remain high despite rate cut – Moody's
A report from BofA also shows that even if interest payment costs ease slightly, the direct lending market faces a high percentage of payment-in-kind deals coming due

Alts firms turn to sports sponsorship to get their names out in the stands
Carlyle strikes partnership with F1 team Oracle Red Bull, following Blue Owl tennis tie-up and Apollo golf sponsorship; the efforts come amid a broader push into private wealth channels

Apollo Debt Solutions issues second direct lending CLO
The print follows the manager’s inaugural such deal at the end of April, arranged by RBC and Apollo

Blue Owl launches alternative credit fund for individual investors
The new product is structured as an interval fund and launched with USD 850m

Carlyle nabs head of direct lending origination from Golub
EXCLUSIVE: The firm also hired a second managing director focused on originations as it re-staffs its direct lending franchise

Evolving M&A is transforming the capital formation landscape – KKR
'Critical' link between M&A and credit is set to fuel growth in private markets

Oaktree hires former BlackRock MD for private debt sourcing
The former BlackRock managing director joins to source private debt deals in North America

Ex-Morgan Stanley head of originations starts as Octagon’s head of private credit
EXCLUSIVE: The new hire will lead the liquid credit shop’s new direct-lending strategy, launched earlier this year

PGIM and Partners Group to create public-private asset portfolio products
The two struck a partnership to create multi-asset investment products designed for both individual investors and the institutional investor channel

Regulators fret over hidden risks as tentacles of private credit reach deep into banks
One lesson of the 2008 financial crisis is that regulators were late to grasp the risks lurking in an explosion of collateralised mortgage lending. They are determined not to make the same mistake with private credit

Connecticut, Wisconsin pensions invest in Sixth Street's private credit funds
Sixth Street funds secure commitments from Connecticut, Wisconsin, and Ventura County pensions, while a Texas pension allocates funds to a Silver Point CLO fund

BC Partners Credit launches evergreen fund for dedicated specialty finance strategy
EXCLUSIVE: The new vehicle will be seeded with eight performing specialty finance loans

Guggenheim resets 2021-vintage mid-market CLO
The transaction repriced a 2021 reissue of a 2019 CLO, with the triple A paper clearing at the wider end of recent mid-market prints

The health of the consumer is a canary in the coal mine – Arena’s Dan Zwirn
The CEO, CIO and co-founder of Arena Investors discusses stress in consumer spending, and prospective responses from policymakers, on the latest episode of Credit Exchange with Lisa Lee

Private credit secondaries poised for record year
Deals in the market are only getting larger and volumes are expected to surpass USD 18bn this year, a new Evercore report shows

New mid market issues from Ares, Deerpath total over USD 1.3bn
The two managers each priced deals worth over USD 650m on Thursday

Samsung Life becomes latest institution to take minority stake in Hayfin
Insurer Samsung Life joins Mubadala and AXA IM Prime as minority stakeholders in Hayfin

Play quality as stress builds in corporate credit – Oak Hill Advisors’ Alan Schrager
Corporate credit stress is beginning to show, creating more opportunities for credit managers to show some differentiation after years of relatively smooth sailing, says Alan Schrager, senior partner at Oak Hill Advisors, in the latest episode of Credit Exchange with Lisa Lee

Park Square raises EUR 4bn for junior debt strategy 
The firm’s latest fund, Park Square Capital Partners V, surpassed its initial target and is significantly larger than the EUR 2.2bn predecessor fund

Principal Asset Management hires MD for sponsor-backed direct lending
EXCLUSIVE: Jordon Thompson, who most recently worked for Cerberus Capital Management, now covers sponsor relationships for Principal Asset Management 

Corinthia Global Management hires Ares alum in New York
The global private credit manager has hired former Ares partner Craig Shirey to serve as a managing director

CalPERS, LACERS among pensions disclosing recent private credit investments
CalPERS invests USD 1bn in climate-focused private credit fund by Goldman Sachs, while LACERS commits USD 170m to TPG Twin Brook, Sixth Street funds

Golub upsizes, resets first private credit fund CLO
The transaction follows the USD 868.57m print of the manager’s second private credit fund CLO last Wednesday, with both deals arranged via SocGen

Goldman, T. Rowe partner on public-private asset products for individual investors
As part of the agreement, Goldman Sachs will take a small stake in T. Rowe Price by purchasing up to USD 1bn in the publicly traded asset manager’s common stock