California retirement system provides seed capital to BDC
The California State Teachers' Retirement System is not just allocating to private credit, but forming a new direct lending partnership

Cahill Gordon & Reindel turns to buy-side for new co-head of private credit
The latest people move in private credit was something rare – a move from a senior role on the buy-side back to a law firm 

Golub goes with 5Y RP for latest MM CLO reset
Rounding off a prolific month, Golub Capital priced its third deal in three weeks last Friday, with a reset of a middle market CLO.

Pittsburgh pension system seeks private credit advisor
The City of Pittsburgh Comprehensive Municipal Pension Trust Fund is the latest pension aiming to allocate to private credit, and is on the lookout for a private credit advisor

Webster Bank and Marathon form private credit tie-up
Webster Bank and Marathon Asset Management have joined the ranks of traditional banks forming partnerships with asset managers 

Funds roundup: June 2024
Private credit funds keep getting larger — some reaching billion-dollar status — while demand for niche solutions, such as interval funds and special situations, continues to escalate

New survey explores middle-market CLO operations
S&P Global Market Intelligence, in collaboration with Creditflux, conducted a study of middle-market CLO managers to assess how specialists are adapting their operations to tap this burgeoning opportunity

As high rates hurt borrowers, private credit firms are hoping for an uptick in M&A
2020 vintage investments have distributed more than 80% less cash

Carlyle direct lending origination head jumps to Apollo
The head of origination and sponsor coverage for Carlyle’s direct lending business has joined Apollo, becoming the latest in a string of executives exiting the alternative asset manager

ORIX USA realigns private credit business with addition of BlackRock exec to team
ORIX Corporation USA has hired a BlackRock alumni as group head of direct lending, as the asset manager revamps its private credit business

New Mexico pension system allocates USD 200m to specialty finance
The new commitment is the latest in a string of investments in private credit from the New Mexico State Investment Council, totaling hundreds of millions of dollars

Cresset teams up with ORIX's NXT for direct lending partnership
Cresset will provide the capital from its USD 500m private credit fund in exchange for access to NXT's origination machine

HPS closes one of the largest direct lending funds ever
HPS held the final close of its Specialty Loan Fund VI, or SLF VI, together with parallel funds and accounts, having raised USD 21.1bn in investable capital

Ohio pension system allocates USD 100m to private credit
The Ohio Police & Fire Pension Fund has approved two new commitments to private credit totalling USD 100m 

Morgan Lewis hires funds formation lawyer in New York
Law firm Morgan Lewis has hired a new private funds Partner in New York from Schulte Roth & Zabel

Crescent Capital shakes up senior-leadership team
Los Angeles-based alternative credit specialist Crescent Capital Group is updating its senior-leadership team with several key promotions

Canadian asset manager lays out plans for new evergreen private credit fund
New fund will launch in partnership with fintech platform iCapital and soon start accepting subscriptions from accredited investors.

Private credit players predict continued growth
The party may not be over in private credit even as the BSL market makes a comeback, according to speakers at this year's Debtwire Private Credit Forum New York

Blue Owl prints middle-market CLO with 5Y RP
Blue Owl Credit Advisors priced a new middle-market CLO Tuesday with the first five year reinvestment periods in a private credit CLO since 2018

Ares receives another USD 100m for its third direct lending fund
Ares Management continues to inch towards its goal of raising USD 10bn for its third senior direct lending fund with a recent commitment from a pension fund.

Massachusetts retirement system seeks manager for senior direct lending strategy
The Quincy retirement system is looking to invest about USD 4m in senior secured debt. 

Stifel and Lord Abbett form joint venture for private credit
SBLA Private Credit is the latest example of investment banks and asset managers teaming up for a slice of the USD 1.7tn private credit market.

MidOcean Partners closes USD 765m opportunistic credit fund
MidOcean's latest direct lending strategy focuses on lending to mid-sized stressed, distressed and dislocated performing businesses.

Comvest aims to become the first debut US manager of the year
Comvest Capital Advisory Services is in the market with its debut CLO: Comvest Credit 2024-1 CLO, a middle-market deal. The deal will make Comvest the first new US CLO manager of 2024. 

SFERS commits another USD 75m to private credit
The San Francisco City & County Employees' Retirement System's latest commitment to private credit comes in the form of a USD 75m allocation