Apollo and Mubadala extend capital solutions originations partnership
Apollo and Mubadala Investment Company have extended a private debt partnership established in 2022 that focuses on finding larger deals that require bespoke capital solutions

US MM CLO Rankings - October 2024
Golub continues to dominate our latest manager rankings for the US MM CLO market, with SocGen standing out among the arrangers

Hayfin adds Chicago office for fundraising and originations
Hayfin managing directors Steve Bringardner and Andrew Merrill will be based in Chicago to develop the office and grow the team

Barings adds two private credit MDs for North America
Barings Global Private Finance has hired two managing directors, Brian Polomsky and Doug Koch, for its North America Private Credit team from Principal Asset Management

Katten hires New York private credit partner from Weil
Law firm Katten has hired Maximilien Pucci-Sisti Maisonrouge for its private credit practice as a partner in New York

Cerberus prints short-dated MM CLO that matches BSL spread levels
The triple-As for the 1Y/2Y private credit CLO priced at 135bps, on top of current levels for longer dated 2Y/5Y BSL CLOs

Credit funds brace for increased scrutiny from regulators
The Securities and Exchange Commission’s Division of Examinations urged advisers to private funds, which include private credit managers, to prepare for increased scrutiny 

Blackstone prices ultra-tight private credit CLO
Blackstone has followed fellow US behemoth KKR in rethinking its approach to private credit CLOs, with the first such deal under the Blackstone Secured Lending Fund (BXSL) shelf

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

PennantPark closes middle market opportunities fund
PennantPark Credit Opportunities Fund IV has raised USD 610 million in investable capital to invest in middle market private credit investments

BC Partners acquires US venture cap lender
The direct lender acquired by BC partners provides loans to venture and non-venture companies and manages a BDC focused on VC lending

Antares sets new AAA tight for a middle-market CLO (again)
Antares beat its own triple-A benchmark when it priced Antares CLO 2024-6 with a senior spread of SOFR plus 156bps

Ares negotiates sub line lending solutions with banks
Ares Management is upping its subscription line lending activity. It has agreed a new partnership with Investec and is talks with a number of other banks

Mayer Brown taps King & Spalding partner to head New York private credit
Law firm Mayer Brown has hired Sheel Patel to lead the firm’s private credit practice in New York

Ares sets new tight for new issue middle-market CLOs
A simple structure with two debt tranches included triple-As that priced at SOFR plus 154bps, the tightest level yet for a middle market CLO 

Blackstone raises USD 22bn for senior direct lending
Blackstone has raised USD 22bn, inclusive of leverage, for its institutional US direct lending fund and related vehicles

Golub resets billion-dollar middle-market CLO from 2019
The reset of Golub's monster deal from 2019 includes a fresh equity injection that takes the total deal size to USD 1.07bn

Goldman alums raise USD 1.6bn for new direct lender
An alternative investment management firm founded by two Goldman Sachs alumni last year has corralled USD 1.6bn to put towards a new senior direct lending strategy

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

Direct lending defaults decline for all except middle market according to Proskauer
Default rates for US direct loans declined to 1.95% in the third quarter of 2024 from 2.71% in the second quarter, according to a new report from law firm Proskauer

First Eagle resets middle-market CLO
A reset of Lake Shore MM CLO IV, a 2021 vintage middle-market CLO, saw the triple As split into note and loan tranches, which both priced at 170bps

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

Bank partnerships aren't the only solution for origination, hears conference
Delegates at Private Credit Connect East heard a passionate defence of the benefits of independent origation efforts  

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.