Polus plans to enter CLO mezz tranche investing
EXCLUSIVE: Polus Capital Management continues building out US CLO management business and sees opportunity in mezz tranche investing

 

Price talk emerges for Royal London's first ever CLO
The asset management arm of the UK insurance and pensions group is marketing its first European deal via Goldman Sachs

CalPERS, LACERS among pensions disclosing recent private credit investments
CalPERS invests USD 1bn in climate-focused private credit fund by Goldman Sachs, while LACERS commits USD 170m to TPG Twin Brook, Sixth Street funds

Investcorp prices 2020-vintage US reset
Investcorp’s 11th CLO issue of the year has priced via CIBC, issuing its top-of-stack paper at SOFR plus 130bps

Rush to exit bankruptcy pushes more companies to file a second time
Four companies file for second time in 2025, up from one last year; Poor prognosis for Chapter 22 filers, with high liquidation rates  

Risk grows with private credit concentration, complexity – Moody’s
The interconnectedness among various private credit structures and vehicles could lead to more correlated performance in times of economic downturns, the ratings agency said in a new report

Alaska, Pennsylvania among pensions disclosing recent private credit investments
Alaska retirement system reveals over USD 400m in private credit investments and Pennsylvania and Texas pensions make new commitments to European private credit funds, while Maine PERS commits to another new TPG Twin Brook fund

European BB CLO tranches most susceptible to downgrade – S&P Global
Triple-A tranches demonstrate “significant stability,” according to the ratings agency

US resets price from Barings, CVC and Western Asset Management
A trio of US BSL resets from CVC, Barings and Western Asset Management toward the end of last week added over USD 1.3bn to August’s final issuance tally

Diameter, Silver Point shop first Euro deals to become new European CLO managers
EXCLUSIVE: The two deals add to a busy September pipeline, which also includes the expected debut for Royal London as a first time manager

Park Square and Nomura plan private credit partnership
EXCLUSIVE: The two parties are negotiating a partnership in which Nomura’s US investment banking unit would help Park Square source unitranche deals in the US

Royal London pre-markets inaugural European CLO
EXCLUSIVE: The asset management arm of the Royal London Group is set to make its CLO management debut in September

Private credit CLOs boom to new high
The middle market is seeing record levels of issuance as the smaller corner of the CLO space draws more investor interest, while US BSL primary activity chases 2024 levels

Hayfin adds to surge of short-dated August Euro resets

Sponsors abandoning companies to private lenders at rapid rate---Lincoln International
The first half of 2025 saw private equity sponsors hand over companies to direct lenders at a volume that exceeded the past five years combined, the valuation firm’s data shows

End of week sees private credit CLO issuance rush
The mid-market saw a flurry of issues from Eldridge, Churchill, StepStone and BlackRock toward the end of last week, with the total value of the four deals across Thursday and Friday totalling over USD 1.5bn

Direct lending competition erases refinancing premium
Historically, new LBOs resulted in cheaper pricing, but spreads for refinancing and recapitalization deals have tightened as direct lenders face a lack of deployment opportunities

Anchorage exceeds hard cap on credit opportunities fund
The firm held a final close for Anchorage Credit Opportunities Fund IX, which will invest across stressed, distressed, structured and special situations credits

Private credit deals in India grow 53% year-over-year
Private credit investments in India hit USD 9bn during the first half of the year, according to a new report from EY

Allstate records new AAA tight for US resets with 2015-vintage repricing
Benchmark triple A spreads for US resets have followed those for new issues in tightening to the mid-120s, with Allstate pricing a reset of AIMCO CLO, Series 2015-A

TwentyFour’s ABS co-head eyes CLOs and prime RMBS, predicts record issuance
Aza Teeuwen says European CLO and ABS issuance could hit EUR 175bn this year, while he sees value in triple A CLO tranches

CVC raises USD 700m for CLO equity fund, plans new products
The European private credit manager also expects to hold a final close for its European Direct Lending Fund IV in late 3Q

HIG WhiteHorse corrals USD 5.9bn for US direct lending
The latest fund will be used to originate senior-secured loans for both sponsored and non-sponsored corporate borrowers

Coller Capital backs Twin Brook in record USD 3bn private credit continuation vehicle
The continuation vehicle will acquire a diversified portfolio of sponsor-backed, senior direct loans from TPG Twin Brook’s 2016 and 2018 vintage funds

Credit quality of European CLOs improved since start of year – Fitch
A new report from Fitch Ratings points toward higher quality CLO portfolio credit in the year to date, despite a lower default recovery rate