Public ABS volatility creates opportunity for Citi, Carlyle ABF partnership
By backing fintech specialty lending businesses, Carlyle will gain access to their portfolio of alternative collateral, Carlyle’s head of ABF told Creditflux

Investors opt for debt as alternative to secondary sales to generate liquidity
Investors are increasingly seeking financing as an alternative to selling their fund stakes on the secondaries market

News in brief
US credit returns fail to reflect risk

Private lenders fund record mega-loan for Clearlake
A large group of private credit firms clubbed together to raise the USD 5bn Clearlake Capital needed for its acquisition of Dun & Bradstreet. But is this huge deal a sign of things to come?

Maybe the only thing riskier than JPMorgan’s multifaceted private credit strategy is ignoring private credit entirely
No other bank has been as expansive in its attempts to join this market

As direct lenders seek efficient, scalable financing tools, private credit CLOs are growing fast
PCLOs have reached USD 135bn, or 13% of the overall CLO market

BlackRock pushes private markets for revenue diversification
The world’s largest asset manager is planning to launch three new private credit products for the wealth channel, in addition to its purchase of private credit shop HPS

Carlyle, Citi to partner on ABF in fintech specialty lending sector
Under the agreement, the two will share expertise and explore co-investment opportunities

Pemberton expands into North America with new office, hires
The European private credit shop has established an office in New York

US pensions increasingly eye European private credit amid expanding allocations, diversification pressures
US public pensions have committed at least USD 4.4bn to European private credit strategies since July 2024  

Silver Point prints new private credit CLO
It is the second new issue private credit CLO from the manager this year

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

Bain tightens triple A benchmark for private credit CLOs
The USD 349.13m private credit CLO lowered the current triple A tight for mid-market CLOs by one basis point, to SOFR plus 162bps

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

BlackRock issues new private credit CLO with triple As at emerging mid-160 level
BlackRock Mt. Lassen CLO XV is the manager's first new mid-market deal since July last year

Mid-market CLO rally unlikely to endure — S&P Global
The positive start to the year has been undercut by uncertainty stemming from the Trump administration’s new tariff regime

Golub prints mid-market CLO with tightest triple As since April
The USD 1.15bn transaction priced its senior triple A paper at SOFR plus 163bps