Alaska ups private credit co-investing to combat fund fees
The Alaska Permanent Fund Corporation faces fee drag of around 15% for the asset class

Maine, Louisiana, San Jose, Kern County pensions make new private credit investments, plot future moves
Public Pensions, Private Pursuits: Maine PERS to further increase exposure to TPG Angelo Gordon’s direct lending arm

CIFC prints first new issue this year under JV with Teacher Retirement System of Texas
The USD 607m CLO is the latest in the manager’s joint venture with the Teacher Retirement System of Texas

Wellington Management raises USD 194m for inaugural captive CLO fund
The established CLO investor will use the fund to primarily invest in equity tranches of its own US BSL CLOs

TPG Angelo Gordon prices its first private credit CLO since September
The manager added to the list of middle market deals this year with a new USD 397m issue  

JPMorgan to kick start private debt fund for wealthy individuals
Structured as an interval fund, JPMorgan Asset Management plans to use the fund to invest across direct lending, asset based finance and distressed debt investments.

Neuberger Berman raises USD 1.6bn for asset-based finance
The majority of investors from the predecessor fund committed capital to the latest Fund III

Singapore plans USD 1bn private credit growth fund
The fund will be used to fund local enterprises, the prime minister and minister of finance said

Private credit CLOs see dramatic drop in spreads, at historic lows
With increased interest from managers and investors alike, middle market CLOs have seen steady spread compression down to post-GFC record low

Chenavari and Cross Ocean each price first CLOs in eight months
The European managers both priced new issues with triple As at 125bps over Euribor  

Voya's first new US BSL CLO of the year hits AAA tights
The deal priced the senior-most tranche of triple A notes at SOFR plus 113bps

AIMCo private markets head departs as New York office shutters
The New York office, open for just a year, was established last February to accelerate the growth of the institutional investor’s private credit portfolio and source investments

StepStone to launch private debt vehicle for European wealth investors
The ELTIF will invest in private credit asset classes across the European Union

Antares launches private credit fund for wealthy individuals
The new vehicle, started with USD 1.4bn in investable capital, will target the private wealth channel, a growing investor base to the private credit asset class

Canyon prices its third CLO since entering Europe
Canyon Partners has priced its first European CLO since April last year  

Hayfin returns to market with first US CLO in nine months
The reset of the 2020-vintage deal priced the top of the stack at SOFR plus 123bps  

European CLO ETF options widen as Invesco launches two new offerings
The asset manager joins Janus Henderson and Palmer Square in announcing debut European CLO ETFs this year  

NYS, San Francisco, Arizona, Virginia, Texas, Fresno County disclose nearly USD 1.3bn private credit commitments

Fears about rates and the economy have dwindled and the outlook is positive
Bond yields are rising but capital markets remain full speed ahead

Tariffs, trade wars and inflationary pressures are unlikely to prevent CLOs doing well this year
No two years are the same — but 2025 is shaping up to be strong

Big managers hold steady in CLO boom
After a late surge, 2024 saw USD 588bn of new global issuance from 1,331 CLOs, as well as the launch of multiple managers. But the biggest players mostly held on to their high rankings

A profitable year for credit funds
An almost 18% rise ensured our CLO fund index was the best performer in 2024. But other credit indices werenʼt far behind as funds across the credit spectrum delivered strong returns

January issuance smashes records as spreads tighten
The CLO market blazed hot in January, breaking issuance records and pushing spreads down to near-historical lows. Market participants are positive about the rest of the quarter, but predict headwinds on the horizon.

Need for scale fuels BDC consolidation
Business development companies (BDCs) — a popular type of private credit fund vehicle — have been merging to gain scale and lower costs, and more consolidations are expected in 2025.

Credit hedge funds - December 2024
Credit hedge fund performance