Crescent hires two MDs, launches GP financing strategy
The new GP financing solutions strategy will see the firm provide flexible, nondilutive financing options to middle-market private equity managers

Private credit firms lean on origination partners to push into asset-backed lending
The private credit juggernaut keeps trundling on, with firms such as Carlyle and Fortress thrusting into the private asset-backed finance market, which by some estimates could be worth USD 30tn

Core direct lending falls out of favour
As capital flows in and middle market M&A shrinks, private credit managers are looking for new places to invest, said speakers at the Debtwire Private Credit Forum New York

HIG WhiteHorse corrals USD 5.9bn for US direct lending
The latest fund will be used to originate senior-secured loans for both sponsored and non-sponsored corporate borrowers

Coller Capital backs Twin Brook in record USD 3bn private credit continuation vehicle
The continuation vehicle will acquire a diversified portfolio of sponsor-backed, senior direct loans from TPG Twin Brook’s 2016 and 2018 vintage funds

Private credit inflows face uphill battle even as 401(k) doors open
Although US President Trump’s executive order opens defined contribution retirement plans like 401(k)s to private credit investments, a sudden and meaningful rise in inflows is unlikely 

Sponsors push amendments as direct lenders grow receptive – L4CP’s Chuchla
Particularly with vintage-2021 deals, direct lenders are open to amending terms to the looser market standard of today, Lane Four Capital Partners founder Rob Chuchla said

Sound Point scores USD 1.1bn first close for asset-based lending fund
The fund, which expects a final close by the end of the year, has already blown past its USD 1bn total target

Oak Hill Advisors raises USD 3.3bn for senior direct lending
The fund has yet to hold a final close but has already exceeded the fund’s initial target

Presidential order opens private credit access to US retirement investors
US President Donald Trump signed an executive order to repeal a regulation that forbids certain US retirement accounts like 401(k)s from adding alternative assets such as private debt

Brookfield raises USD 16bn for credit, plans asset-based finance strategy
The firm is also planning to hold a first close for its infrastructure mezzanine debt fund

CAIS, Solactive launch private credit index
The index can be used by wealth advisors to benchmark the performance of private BDCs

Manulife to acquire Comvest, creating USD 18.4bn private credit platform
Manulife, through its global wealth and asset management business, will acquire a 75% stake in the private credit manager

Morgan Stanley Direct Lending debuts inaugural private credit CLO
Morgan Stanley Direct Lending Fund, a business development company, has launched its first private credit CLO 

PGIM looks to build private credit secondaries strategy
EXCLUSIVE: The insurer-linked asset manager already has secondaries capabilities through the acquisition of Montana Capital Partners in 2021

Apollo looks elsewhere, saying CLOs suffer from commoditization
The alternative asset manager said CLOs have tightened to levels that are unsustainable

Generali Investments backs new asset-based finance strategy
Generali-affiliated Aperture Investors also hired a new global head of asset-based finance

Citi hires head of private credit originations in North America 
The new hire joins from Ares Management and will start in October

OrbiMed raises USD 1.86bn for healthcare, royalty financing
The firm will target growing healthcare companies and provide non-dilutive credit options

Ares diversifies away from institutional, commingled private funds
During the second quarter, 55% of capital came from the institutional channel and just 30% of this was for its traditional funds

Sports investing is a growing field – Crescent’s Mark Attanasio
PODCAST: “There’s nothing more compelling than live sports,” says Mark Attanasio, co-founder of asset manager Crescent Capital Group and principal owner of Major League Baseball team the Milwaukee Brewers, on the latest Credit Exchange podcast with Lisa Lee

PGIM closes sophomore senior debt fund with USD 4.2bn
The commingled, private fund will be used to lend to middle-market companies across North America, Europe and Australia

KKR grows ABF business to USD 75bn, expands origination
The alternative asset manager acquired a majority stake in a biopharma royalties business this week to add to its asset-backed finance business

Thoma Bravo’s private credit head to depart
EXCLUSIVE: The position will be filled after a transition period

Antares partners with Ascot to launch casualty reinsurer sidecar
Antares will be the exclusive private credit manager for the new Wayfare Reinsurance Limited