Private credit CLOs gather steam in Europe as Ares prices its first euro/sterling deal
The transaction follows the pioneering euro/sterling transaction from Barings last October, which also priced via BNP Paribas, and is the second private credit CLO for Ares in Europe

CalPERS, other large investors embrace a strategy that may send more cash to private markets
ANALYSIS: Institutional investors that switch to the Total Portfolio Approach will have more flexibility to commit to private market asset strategies like private debt and private equity

NYS system commits USD 500m as Illinois plans private credit RFP
NYSCRF allocates USD 500m to BlackRock, Ares and Pearl Diver; Boston, San Joaquin pensions also reveal recent commitments; Illinois police pension plans private credit search in June

Lending giants invade lower mid-market in search of deals – Private Credit Comment
Smaller debt funds face increased competition from larger lenders; normalisation hinges on more M&A volumes or issues in syndicated markets

Abry plans programmatic BSL CLO issuance, eyeing expansion to private credit CLOs
EXCLUSIVE: The alternative investment firm, which made its debut last year, is planning for two to three CLOs for 2026

Private credit manager Varagon prices second CLO
Arranged by BNP Paribas, the USD 592m MDL Structured Notes II is the manager’s first CLO issue since its market debut in October 2024

LGT Capital Partners launches CLO equity fund
The royal family-owned firm made its CLO debut last summer, pricing a EUR 517m deal arranged by Deutsche Bank 

Janus Henderson launches asset-backed credit fund for individuals
The fund, which was seeded with USD 250m, launched through Janus Henderson affiliates Privacore Capital and Victory Park Capital

First BCRED deal for 2026 lowers AAA tight for private credit CLOs
The deal issued its top-of-stack paper at SOFR plus 137bps

Former Ares CLO leader Boris Okuliar joins Corinthia
London-based Okuliar is now Corinthia’s chief strategy officer and head of global diversified credit, signalling the private credit firm’s expansion into public credit

CLO equity payments decline for US and Europe
Reinvesting US BSL CLOs saw median equity payments slip 16bps from the fourth quarter of 2025

Wisconsin, Texas systems increase commitments to opportunistic credit
Wisconsin Investment Board allocates USD 650m in 4Q25; Texas system commits USD 350m to LuminArx, Ares

KKR prices second deal in programmatic private credit CLO strategy
The transaction is the second in the manager’s series of private credit CLO issues under the KIMM (KKR Institutional Middle Market CLO) banner, following the pricing of KIMM CLO I in October 2024

New filings detail Patrick Drahi's diversion of assets to detriment of certain Altice creditors – report
EUR 4.5bn loan affected, 55% of Altice International's assets; creditors explore litigation, including covenant breach and conveyance claims

Ares plans to raise a USD 6.6bn alternative credit fund in just six months
The alternative asset manager also said on its fourth quarter earnings call that it is preparing a final close for its latest opportunistic credit fund

PennantPark resets 2024-vintage private credit CLO
PennantPark has reset a 2024-vintage private credit CLO, tightening its senior triple A spreads by 87bps from the level they issued at two years ago

Blue Owl raises USD 2.5bn for opportunistic alternative credit fund
The firm also said it is not negative on software lending, amid concerns that artificial intelligence may make some businesses obsolete

European BSL market upped risk to win deals in 2025 – White & Case
The BSL market issued a higher percentage of loans rated below BB against a backdrop of patchy M&A flow

Benchmark US CLO AAAs narrow again with Oak Hill reissue
The market’s triple-A spread has now tightened 5bps since the end of last year

Global CLO law firm rankings – FY 2025
Milbank and Paul Hastings again top Creditflux’s global legal manager and arranger counsel rankings for 2025 – but the shifting legal landscape drove changes further down

Partners reset tips Euro CLO AAA tight down to 121bps
Partners’ latest European CLO reset set a new tight for European CLO triple A spreads, as the rapid bout of spread tightening taking place in both the US and Europe over the last couple of weeks showed little immediate sign of abating

Private credit secondaries poised for insurer activity – Coller
ANALYSIS: Credit secondaries are the natural buyer universe for structured notes, which have become a popular way for insurers to gain private credit exposure

CLO platform M&A sees green shoots
ANALYSIS: CVC’s recent agreement to acquire Marathon Asset Management in a deal that sees the top European CLO player double-down on its US CLO presence may prove the start of trend 

GoldenTree US CLO reset sees AAAs tighten in to 115bps
GoldenTree’s triple-A spread has the market approaching the tights last seen 12 months ago, before growing supply and US tariff policies saw spreads widen significantly 

New Jersey, Oklahoma systems double down on private credit SMAs
New Jersey DOI commits USD 600m to Golub Capital, while Oklahoma, NY systems increase allocations to SMAs; Vermont pension could commit USD 235m in 2026