Carlyle’s AlpInvest and Mubadala establish fund financing partnership
Carlyle Group subsidiary AlpInvest Partners and Mubadala have set up a new credit co-investment partnership to provide portfolio senior fund financing on a global basis  

Investcorp's head of European credit funds Philip Yeates leaves firm amid leadership shake-up
Philip Yeates, head of European credit funds at Investcorp, has left the firm as the asset manager undergoes a leadership shift that's seeing co-CEO Hazem Ben-Gacem set to depart later this year and executive chairman Mohammed Alardhi take on CEO duties

17Capital opens offices in Dubai as demand for NAV financing grows
A growing global appetite for NAV finance has prompted London-headquartered credit specialist 17Capital to open a new office in Dubai

Global Loan Highlights 1Q24: Don’t call it a comeback
Loan refinancing share hits historic high, but IG issuance stymies YoY global growth

Direct lender and CLO manager expands into Japan
The US private credit and direct lending specialist has opened its first Japanese office, and hired a new senior VP to oversee the office

Loan Highlights 3Q23: Loan volumes remain significantly lower than historical averages
Capital markets loan activity continued to struggle in the third quarter of 2023, as issuers in the Americas and Europe held off from tapping markets

PAG closes 'largest' Asia-Pacific direct lending fund
PAG has closed its fifth pan-Asian direct lending fund, PAG Loan Fund V, at its $2.6 billion hard cap

Standard Chartered prints landmark SRT in Asia
Standard Chartered has issued a ground-breaking SRT by partnering with investors PGGM and Alecta. The transaction "enables Standard Chartered to be the first bank to benefit from capital relief in Hong Kong" 

Bain collects $2 billion for second Asian special situations fund
Bain Capital has collected more than $2 billion for its second special situations fund, Bain Capital Special Situations Asia Fund II. The vehicle had an initial $1.5 billion target

"Faltering oil supply is lamentable at a time of strategic and moral shortfall"
We need to accept the pain and cut dependence on Russian oil today

LP round up: Oak Hill wins $3bn mandate as credit allocations near $10bn in March
Institutional investors revealed over $9.5 billion of allocations to credit funds in March. Oak Hill Advisors walked away with the largest mandate, as US heavyweight pension Calpers allocated a whopping $3 billion across several of its funds

Credit rally extends as investors welcome hawkish but clearer Fed message
Credit markets have carried their rally over to another day, fuelled in part by what investors have interpreted as a hawkish but clear message from the US Federal Reserve on policy tightening

Credit and equity fund flows diverge ahead of Fed emergency meeting
Outflows from credit have extended into another week, even as stocks returned to inflows, as speculation mounted the US Federal Reserve could opt for a 50bp hike in March or even an earlier than anticipated hike at an emergency meeting next week

Pennsylvania pension reveals $500 million in commitments to three private credit funds
Pennsylvania Public School Employees' Retirement has revealed three private credit commitments as part of $1.1 billion in allocations to its alternatives bucket

Ares rounds out bumper year for direct lending with $14 billion US fund
Ares Management is ending 2021 with yet another massive direct lending fund-raise

Barclays fills gap by hiring global macro credit trading head in New York
Banks are moving quickly to make sure they are staffed up in credit trading with Barclays bringing in an experienced trader in New York

CSO pipeline strengthens following ESG breakthrough
ESG criteria and longer investment horizons are driving new business in a resurgent bespoke tranche market, say dealers. And while this is unlikely to get 2021 near to a 2019-like haul of deals by year end, hopes are high that volume is firmly back on an upwards traject

China contagion fears linger as Huarong rebounds
China Huarong Asset Manager, the state-owned bad debt manager, is back on a path to improvement after shocking markets by delaying its annual report. But questions remain over the extent of government support and the ripple effects to the wider credit market

Goldman prints infrastructure debt-backed CLO for London and Seoul-based firms
Goldman Sachs has issued a $233.3 million CLO designed to finance infrastructure projects. The deal, named Sequoia Infrastructure Funding I, names London-based Sequoia Investment Management Company as investment advisor and Seoul-headquarterd Shinhan Alternative Investment Management as collateral manager

Europe resumes rally in US absence with Italian spreads hitting new records
Caution about a possible Draghi bubble looks to be a rare commodity, as Italy sovereign and bank spreads are once again among the biggest improvers in a buoyant start to the week

TIG delves into Asian credit following minority investment in Arkkan
New York-based asset manager TIG Advisors has bought a minority equity stake in Hong Kong-based alternative asset manager Arkkan Capital

CLO and loan trading head moves to development finance job
Mediobanca's loan and CLO trading head has moved to CDC Group, a development finance business owned by the UK government

Credit event auctions mount as European resistance breaks
Two constituent defaults in iTraxx Crossover — the first to hit the European on-the-run index in almost two years — have made 2020 the second busiest year ever for credit event auctions

Private credit manager wins mandate to invest in Australia and New Zealand
Revolution Asset Management has won a co-investment mandate from QIC, an asset manager owned by the Queensland Government, to invest in credit assets originated in Australia and New Zealand

Balbec holds $1.2 billion final close on fourth insolvency credit fund
Balbec Capital has held a $1.2 billion final close its fourth non-performing loan fund, InSolve Global Credit Fund IV