Mid-market repricings keep coming, with deals from Deerpath and MidCap
The two transactions at the end of last week together totalled USD 1.3bn

European mid-market CLOs drawing investors from non-traditional buyers: Barings PM
Speaking at a conference in London this week, Oliver Harker-Smith said last year’s inaugural private credit deal attracted interest from investors new to CLOs  

Golub prints largest CLO ever in reset of 2023-vintage middle market deal
The USD 2.32bn reset brings the total capitalisation of Golub Capital Partners CLO 65(M) to USD 2.5bn

Antares resets another super-sized middle market CLO
The transaction added USD 72m in equity and USD 450m worth of triple A paper

PennantPark prints second new middle market CLO in two months
The private credit deal priced the top of the stack at SOFR plus 145bps

Golub prices tight with latest five-year middle market deal
The new issue equalled the market low for triple A spreads on private credit CLOs

Ares adds to middle market issuance with first new deal for the year
Ares Direct Lending CLO 5 priced the top of the stack at SOFR plus 138bps

CLO manager M&A driven by search for talent and scale

Partners Group seeks to more than double private credit AUM
The alternative investment firm plans to grow private credit AUM to more than USD 70bn and could consider acquisitions

IG private credit market could swell to USD 23trn: Carlyle’s Mark Jenkins
Podcast: "Credit Exchange with Lisa Lee" interviews Carlyle's global head of credit Mark Jenkins on investing in the era of uncertainty and shifting secular trends

Go upmarket when investing in credit, says Oak Hill's Schrager
Senior managing partner at Oak Hill Advisors, Alan Schrager, discusses private credit volumes, cross-currents in credit markets, and issues including tariffs and defaults in Credit Exchange with Lisa Lee podcast

A holiday funds roundup
A recap of end-of-year happenings as the industry kept moving right through the holidays and the new year celebrations

Daniel Loeb’s Third Point agrees to acquire Birch Grove
Billionaire Daniel Loeb’s Third Point said it will acquire AS Birch Grove from American Securities, in a move designed to expand the hedge fund's credit capabilities, according to a press release

Canyon Partners promotes co-head of private credit Kivitz to CIO role
Canyon Partners has tapped co-head of private credit Jeff Kivitz to serve as the firm’s next CIO, replacing outgoing Todd Lemkin

Monroe knocks 103bps off triple-As in refinancing of middle-market CLO
Monroe Capital Partners has refinanced its Monroe Capital MML CLO XIV, a middle-market deal from two years ago, tightening the spread at the top of the stack dramatically

BlackRock resets middle-market deal from 2022
BlackRock has reset a middle-market deal called BlackRock Maroon Bells MM CLO, simplifying the top of the deal’s structure in the process

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

Silver Rock sells 42% stake to Mubadala
New York-based Silver Rock has agreed to sell a 42% stake to Mubadala Capital, but the two entities will continue to operate independently

Willow Tree prices second middle-market CLO
Willow Tree Credit Partners has priced a new middle-market CLO, three months after the manager’s debut offering in September

BlackRock acquires HPS in USD 12bn deal
BlackRock has acquired HPS Investment Partners for USD 12bn in an all-stock transaction, creating a private credit franchise with a combined USD 220bn in client assets

Barings prices Europe’s first ever private credit CLO
Barings and BNP Paribas have priced Europe’s first ever private credit CLO, achieving a historical feat that had eluded the region so far

Deerpath resets and upsizes private credit CLO from 2022
The reset of Deerpath Capital CLO 2022-1 almost doubled the size of the CLO from an original USD 374m to the new USD 725m

Blue Owl resets 2022 middle-market CLO
Blue Owl Capital has reset its US private-credit backed Owl Rock CLO IX, adding a small equity infusion in the process

Fortress Credit prints its second new middle-market CLO of 2024
The senior triple-As priced at 159bps in Fortress' second private credit CLO, a full 61bps tighter than the manager's previous deal back in January 

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