Monroe selected by White House for new USD 1bn auto lending fund
Direct lender Monroe Capital is launching a White House-inspired USD 1bn institutional, closed-end fund to make direct loans to suppliers and manufacturers in the US automotive supply chain, the company announced.

Private credit firms begin creating desks for push into secondary trading
A number of private credit firms are looking to push into secondary loan trading, a signal that the USD 1.7 trillion asset class is perhaps beginning to mature and resemble other fixed income markets.

Ares strategy ‘links investing to purpose’ with 5-10% of profits donated to charity
Joel Holsinger at Ares Management has a proposition for investors: “We’ll make the same types of investments we’ve made historically for you, and we’ll contribute 5% to 10% of our profits to charity.”

Desperate direct lenders kept in the dark as private equity firms call shots
The intensifying fight for sparse private credit opportunities is enabling M&A bankers to keep lenders in the dark

The powers behind the loan
Thought that Wall Street still pulled the shots in LBO financing? Meet the real power brokers of the new world order — the people who run buy-side capital markets desks at private equity firms

Credit hedge funds
Credit hedge fund performance for July 2024

Credit funds at a glance
Fund performance; recent fundraising; recent hires

US spending remains resilient despite financial worries
Consumption accounts for just under 70% of the GDP of the world’s largest economy. The good news is that (repeated) reports of the death of the US consumer seem greatly exaggerated.

Jefferies ramps up private credit trading
Jefferies is building out its trading of private credit loans, joining a rush of banks and managers developing a new secondary market for the product

ICG raises almost USD 2bn for North American direct lending
London-based ICG has closed on USD 1.9bn for its third North American direct lending fund, North American Credit Partners Fund III

White Oak hires from eCapital for ABL solutions team
White Oak Commercial Finance has hired two senior VPs from eCapital Corporation to work on ABL solutions for non-sponsored, middle market companies

Viola Credit partners with Apollo affiliate on USD 500m JV
Cadma Capital Partners has launched a joint venture with Viola Credit that will focus on making asset-based loans

Gibson Dunn adds Akin partner to lead private credit practice
Gibson Dunn has continued a hiring spree with the addition of a New-York based partner to lead the firm's private credit efforts

Silver Point raises USD 4.6bn for opportunistic credit fund
It isn't just direct lending raising big checks. Silver Point blew past its target to bring in USD 4.6bn for a new distressed fund.

Sound Point breaks USD 1bn level on third direct lending fund
Sound Point Capital held a final close for its third US direct lending fund, raising USD 1.2bn of equity and debt

Apollo eyes IG private debt trading
Apollo Global Management is looking to create a trading desk for investment grade private debt

MidCap resets brings in middle market CLO senior spreads 110bps
Apollo affiliate MidCap Financial's reset of a static middle market CLO from 2023 led to an eye-catching reduction in the triple-A spreads   

Doug Cruikshank, Managing Partner & Founder at Hark Capital, on opportunities in NAV Financing
In a recent Fireside Chat, Giovanni Amodeo sat down with Doug Cruikshank of Harc Capital, to explore alternative financing strategies

A new manager debuts as Willow Tree prices middle-market CLO
The CLO world welcomed a new manager on Tuesday when Willow Tree Credit Partners printed its debut CLO: a middle-market deal arranged by GreensLedge

Apollo plans market’s first private credit ETF
State Street and Apollo are teaming up for the market's first private credit ETF, with a focus of investment grade private debt.

JP Morgan CIO PM finds his way to ABL fund
Doug Nicholson, a portfolio manager in the chief investment office at JP Morgan for over 15 years, has jumped to a buy-side private credit firm

Cahill grows private credit practice with hire from Orrick
Law firm Cahill Gordon & Reindel turned to Orrick to find a new partner for its growing private credit practice

Corinthia Global Management eyes deployment in 4Q24
The upstart direct lender sued for lifting more than 20 staff from Barings is preparing to begin deploying capital as it announces a flurry of senior appointments

Direct lenders debate new protections to avoid being Pluralsight-ed
Direct lenders are starting to ask for “Pluralsight Protection” when negotiating new deals to head off a repeat of the standoff this summer

Brett Hickey, Founder & CEO at Star Mountain Capital, on creating a niche in private credit investing
In this fireside chat Brett Hickey shares his insights on topics including value-added direct lending and why he prefers buy-and-build