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 

Fears about rates and the economy have dwindled and the outlook is positive
Bond yields are rising but capital markets remain full speed ahead

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

Francisco Partners closes USD 3.3bn opportunistic credit
Francisco Partners has raised an opportunistic credit fund that exceeded its 2.3bn target

Global Private Credit AUM to reach USD 3trn by 2028 - Moody’s
Global private credit AUM is poised to hit USD 3trn by 2028, Moody's predicts, with momentum expected to grow over the next three years

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

Connecticut pensions earmark USD 1.85bn for private credit in 2025
The Connecticut Retirement Plans and Trust Funds, a combination of six state pension funds and 12 state trust funds, plans to increase private credit allocation this year

Corinthia Global Management secures USD 5bn in capital commitments
Corinthia Global Management has raised about USD 5bn for its first direct-lending fund and expects to fund deals by March at the latest

Thoma Bravo raises USD 3.6bn for tech and software credit fund
Thoma Bravo has raised USD 3.6bn for its latest software and technology focused credit fund, the firm’s largest credit pool of capital ever

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

Stonepeak completes purchase of lower middle market tech lender
Stonepeak has closed its acquisition of middle market lender Boundary Street Capital to expand its credit footprint

BlackRock envisions private credit in retirement accounts
BlackRock seeks to be a pioneer in bringing alternative investments such as private credit to the retirement channel.