Cliffwater aims for more than USD 10bn in private credit co-investments
EXCLUSIVE: The firm, which now oversees nearly USD 28bn in its private credit interval fund, says it's found "an abundance" of co-investment opportunities

M&G expands direct lending origination team with new hire in the Netherlands
M&G Investments is expanding its direct lending team with the appointment of Gijs Boumans in a newly created role, based in Amsterdam

Maryland pension PM joins Nomura’s public-private credit manager
The company is also looking to hire two more investment professionals

Golub launches direct lending continuation vehicle
GP-led secondaries deals involve a manager rolling existing investments into a new vehicle rather than returning capital to investors as originally planned

Wyoming, Texas among state systems making new private credit commitments – Public Pensions, Private Pursuits
Wyoming invests USD 300m in TPG AG and Kennedy Lewis private credit funds, and Texas pension system invests USD 250m in Penfund, SKY Leasing direct lending funds

400 Capital names leaders for ABS, corporate and distressed strategies
The alternative credit manager also announced two new partners

Pantheon raises USD 5.2bn for senior debt secondaries
The latest fund, Pantheon Senior Debt III, was oversubscribed as interest from the insurance channel grows

US corporate private credit assets surpasses BSL, HY markets—LSTA
Despite the growth, leverage across various private credit vehicles remain modest, according to the industry group’s latest study  

Bank-asset manager partnerships reach European shores
EXCLUSIVE: the recent announcement from Arini and Lazard shows how new entrants into the direct lending market might copy the US model of leaning on bank partners

First Eagle launches nontraded BDC that invests in US middle market private credit
The product will invest in directly originated, senior-secured, first lien loans to US middle market corporate borrowers

Massachusetts, midwest pensions disclose recent private credit moves – Public Pensions, Private Pursuits
ANALYSIS: Massachusetts, Michigan pensions reveal private credit investments totaling USD 225m, Illinois Municipal Retirement Fund commits USD 50m to Pemberton   

Bilateral SRT deals fall out of fashion as banks broaden investor base
EXCLUSIVE: Fewer synthetic SRT deals executed bilaterally as banks diversify investor base, secure tighter pricing

Pemberton appoints head of European GP, NAV financing origination
Jürgen Breuer previously helped the manager build out its DACH direct lending effort

PGIM Fixed Income poaches Blackstone exec for private ABF effort
The firm is building a dedicated asset-based finance platform

Coller Capital buys USD 1.6bn portfolio, claiming largest senior direct lending secondaries deal
The private markets secondaries specialist has acquired a senior direct lending portfolio from a multiline US insurer

Scottish Widows plans private markets push through LTAF launch
EXCLUSIVE: the pension fund plans to invest in both private credit and private eqity with separate managers for each  

BlackRock, a traditional asset manager no more – CEO Larry Fink
In his latest annual letter to investors, Chairman and CEO Larry Fink lays out his ambition to index private markets and bring these illiquid assets to the masses

More volatility, more uncertainty and more tailwind for private credit – KKR’s Dan Pietrzak
PODCAST: The new Trump administration in the US has introduced new uncertainty with its preparedness to employ wide-reaching tariffs, and M&A volumes remain depressed, but KKR’s private credit team is busier than it has been in the past few years. 

Apollo poaches BlackRock’s head of APAC private credit
The new hire will start at the end of June to lead Apollo’s hybrid private capital efforts in the Asia Pacific region.  

PAG raises USD 1.25bn for significant risk transfers
The Hong Kong-based alternative asset manager is expecting the SRT market to grow at a 30% to 40% rate annually over the next few years

Blackstone hires Goldman alum to head European private credit origination
Dominic Ashcroft previously served as head of leveraged finance for EMEA at Goldman Sachs

Macquarie launches European direct lending platform
The company is planning to launch a similar US-focused direct lending business by mid-2025

Marathon ditches distressed strategy to raise USD 2.7bn for opportunistic credit
EXCLUSIVE: The asset manager originally launched the fund with a distressed debt strategy but has since switched the focus to making opportunistic private credit and equity investments  

Total fees paid to direct lending funds dip as yields fall —Cliffwater
Institutional investors in direct lending funds are paying fewer dollars in performance fees despite private credit managers refusing to lower fee rates

Lincoln Financial partners with Bain, Partners Group on private credit products for US wealth channel
Lincoln aims to launch the two new private credit products in late 2025