Founder of west coast direct lender charged with fraud
Brendan Ross, founder and former chief executive officer of Direct Lending Investments, was arrested and charged with 10 counts of wire fraud yesterday, amid allegations he inflated the value and returns for a fund investment, resulting in mis-statements to investors and around $5-6million in overcharged fees

Alcentra's 'significant personnel changes' lead pension to terminate private credit contract
Los Angeles City Employees Retirement System has plans to rescind and terminate its private credit contract with Alcentra "based on significant and unexpected turnover of senior personnel”, according to documents seen by Creditflux. The pension is instead looking to redeploy commitments to Crescent Capital

HIG bolsters European direct lending presence with Amsterdam hire
HIG WhiteHorse has appointed a former NIBC official to its direct lending team in Amsterdam, according to market sources

Amundi joins forces with French bank to launch midcap loan fund
Amundi has partnered with French bank LCL to launch a mid-cap direct lending fund - and the fund has collected €130 million on its first close, just over half its target size 

EQT undertakes strategic review of credit business
EQT has announced a review of its credit business with the firm appointing JP Morgan to evaluate its 'strategic options', according to the firm’s Q4 2019 report

Morgan Stanley IM hires from Carlyle again as it makes direct lending "strategic priority"
The new hire rejoins former colleague Jeff Levin, who Morgan Stanley Investment Management added in February last year to establish a direct lending business as a "strategic priority"

BlueBay adds senior portfolio manager as it targets EM fund launches
BlueBay Asset Management has hired for a newly created senior portfolio manager job 

Hong Kong manager bolsters team ahead of Asian private credit fund launch
Sammasan Capital has appointed former GE Capital colleague to its team as partner, as the Hong Kong-based firm prepares to launch its first Asian private credit opportunities fund

First Eagle buys US CLO manager THL Credit
Two years after establishing its credit business with the acquisition of NewStar Financial, First Eagle Investment Management is aiming big again after striking a deal to buy THL Credit Advisors

West coast pension eyes European private credit for diversification
The $3.1 billion pension fund is looking to diversify its private credit exposure following an asset class education by investment consultant Meketa

Investcorp appoints co-head of US credit as mid-market acquisition closes
The new hire will join Jim Feeley, who was appointed as co-head earlier this year following the retirement of John Fraser

PennantPark raises $750 million for direct lending and opportunistic credit
PennantPark Investment Advisers has raised $750 million across four vehicles, according to an announcement

Warsaw-based direct lender launches fund to invest in central and eastern Europe
The Warsaw-based private debt manager has received the backing of the European Investment Fund

Morgan Stanley grows direct lending arm in New York with two hires
The bank has added a second hire to its private debt team having appointed an ex-Carlyle official to a newly created role as head of direct lending 

Key figure in HPS's direct lending team parts ways with the firm
HPS Investment Partners has lost a senior member of its direct lending team in Europe

Benefit Street affiliate BDC buys stake in ABL lender Siena
Business Development Corporation of America (BDCA), a non-traded business development company managed by Benefit Street Partners, has bought a controlling stake in Siena Capital Finance 

HPS targets $8 billion for flagship mezzanine strategy
HPS Mezzanine Partners 2019, the firm's fourth fund in its mezzanine strategy, has won $100 million from a Louisiana pension fund 

AnaCap buys €4 billion Italian SME loan portfolio
AnaCap Financial Partners has made its first transaction of its fourth credit opportunities fund 

WhiteHorse forms $125 million middle-market JV with Ohio pension
The $79.8 billion Ohio pension fund has teamed up with WhiteHorse to form a joint venture that will have a $375 million total lending capacity

AEA markets successor private debt fund following $1 billion fund close
AEA Investors is marketing its latest private credit strategy, with the firm launching AEA Middle Market Debt Fund IV

Muzinich aims to take granular portfolio tactic across Europe
Muzinich has put together what it describes as a “direct lending 2.0” strategy, which it anticipates will serve as a solution to the constraints faced by middle market lenders in Europe. The firm launched the Italian version of the strategy in November via its Italian subsidiary Springrowth SGR and is looking to create follow-ups in other European jurisdictions

PennantPark wins $80 million for third credit opportunities fund
The new vehicle is the latest in the PennantPark Credit Opportunities series 

Franklin Templeton acquires Benefit Street
Franklin Templeton Investments has acquired $26 billion credit fund manager Benefit Street Partners

Alaska fund appoints CIO
Alaska Permanent Fund Corporation (APFC), the $65 billion sovereign wealth fund, has promoted an official to chief investment officer.

Crayhill bolsters private credit team with managing director hire
Crayhill Capital Management has strengthened its asset-based private credit team with the appointment of a managing director in New York