ABPCI reduces equity size in reset of 2017 middle market CLO
AB Private Credit Investors on Friday printed a reset of ABPCI Direct Lending Fund CLO II, the second reset of the 2017 vintage deal

TPG Twin Brook raises nearly USD 4bn for fifth direct lending fund
TPG Twin Brook has revealed the close of its fifth direct lending drawdown fund — TPG AG Direct Lending Fund V

Texas bank launches direct lending division
Dallas-headquartered bank Texas Capital is expanding into the private credit market with the launch of a new direct lending platform 

Vector launches special situations private credit fund
A San Francisco-based private equity firm has launched a new private credit special situations fund, and is aiming to raise USD 300m

Ares closes USD 34bn senior direct lending fund
Ares has closed what could be the largest direct lending fund ever with nearly USD 34bn raised, including USD 15.3bn in equity commitments

Deerpath resets debut MM CLO for the second time
Deerpath Capital Management has priced a reset of US middle-market deal Deerpath Capital CLO 2018-1, the first-ever CLO from the manager

Neuberger raises more than USD 2.7bn for fifth private credit fund
Neuberger Berman is fundraising for a fund that provides direct loans to North American private equity-owned companies 

Hayfin agrees to Arctos-backed management buyout
The management team at Hayfin Capital Management is taking over the company in a management buyout backed by Arctos Partners

Blue Owl prices first tech private credit CLO with 5Y RP
Blue Owl has printed a new middle-market CLO dubbed Athena CLO IV which is the first technology CLO with a 5-year reinvestment schedule

Churchill hires from FS Investments to grow wealth channel
New York-headquartered Churchill Asset Management has hired a new managing director and head of investor relations, retail & wealth 

Jefferies stokes middle market with new CLO
Middle market CLO issuance has slowed a little in recent weeks, but that changed last week when Jefferies Credit Partners priced its first deal in 13 months

Trinity Capital partners with Eagle Point to launch new credit fund
Venture debt specialist Trinity Capital and CLO equity investment firm Eagle Point Credit have launched a new credit fund intended to become a private BDC

Illinois pension system looks for manager for USD 550m private credit allocation
An Illinois pension fund is on the lookout for a new specialist to manage its private credit portfolio, according to a 19 July request for proposal

Private credit default rate rises sharply, according to new report
The second quarter of 2024 saw a further increase in the default rate for US middle market companies, according to legal firm Proskauer's latest report

Connecticut pension allocates USD 300m to Oaktree’s distressed credit fundraising
Connecticut pension system commits to Oaktree latest flagship distressed credit fund

Blackstone reports 18% return from private credit over last 12 months
Blackstone's private credit and liquid credit returns outperform private equity investments in the last 12 months

M&A activity on fire in private credit despite overall M&A slowdown
The M&A market has had a rough time in the past 12 to 18 months, but there’s one area that’s bucking the trend: private credit

Rapid growth shows middle market CLO no longer BSL’s little brother
Middle market CLOs, the once niche sector that securitises private credit loans, is seeing a growth spurt. What was a junior partner to the much larger BSL world is now a sizeable entity of its own.

Alternative PE lending puts pressure on LP-GP alignment
Loans that use fund NAV or GP earnings as collateral are growing in popularity. But some feel these deals could have unforeseen effects and hinder transparency in LP relationships

Credit funds at a glance
Top indices; recent hires; recent fundraising

Blue Owl scoops up Atalaya Capital for USD 450m
Private credit manager Blue Owl Capital is raising the stakes on its place in the USD 1.7trn global market with the purchase of asset-based credit specialist Atalaya Capital

New York retirement system allocates USD 400m to credit co-investment vehicle
The New York State Common Retirement Fund has invested USD 400m in a credit fund-of-one

Boston pension system selects new private credit manager
The Boston Retirement System has selected a new manager and made a commitment to its private debt strategy, according to recently released minutes

US MM CLO Rankings - June 2024
Our latest rankings for the US MM CLO market, including arranger and manager league tables

Star Mountain hires Fortress alumni in scaling strategy
Star Mountain Capital, a lower middle market direct lending firm, has hired a new strategic portfolio officer