Refi of PennantPark V middle-market CLO tightens triple-A by 90bps
Pennant Park has refinanced its PennantPark V CLO, a middle-market deal from late 2022

BlackRock names new head of private credit for India
BlackRock's Maheshwar Nataraj gets a promotion as Dhruva Agarwal departs. 

Apollo launches new BDC backed by Mubadala
Apollo has created a new private BDC that will invest money from Abu Dhabi-based sovereign wealth fund Mubadala Investment Company, in addition to other institutional investors.

Akin Gump hires Paul Hastings partner for private credit practice
The New York-based partner will join the growing special situations and private credit practice.

Arrangers optimistic on prospects for CLO-like recurring revenue deals
Recurring revenue (RR) securitisations, one of the more obscure corners of the ABS market, are seeing a surge of interest, according to market sources, with at least three deals in the pipeline.

Equity piles up in European direct lending portfolios after debt swaps
European debt funds have fully or partially equitised at least 61 loans provided to companies backed by some of the biggest names in private equity since 2018, analysis by Debtwire shows.

Nomura-backed Corinthia lifts private credit team from Barings
More than 20 members of the global private credit team at Barings have jumped ship and joined Corinthia Global Management, a new platform backed by Nomura Holdings

Ninety One launches infrastructure credit fund aimed at South African market
Asset manager Ninety One has launched the Ninety One SA Infrastructure Credit Fund, focused on the South African market

Sidley hires Paul Hastings' partner
Sidley Austin has added a new partner in the law firm's global finance practice, representing direct lenders, private credit funds and banks

Carlyle's head of direct lending departs
Carlyle's Head of Direct Lending has left the firm to pursue other opportunities, according to a company memo

Funds round-up: Feb-2024 - managers turn to European wealth
European private credit managers turn to the wealthy in our roundup of notable fundraising in February 2024. 

Tikehau teams up with Singapore-based UOB-Kay Hian for Asian private credit fund
Paris-headquartered Tikehau Capital is the latest player to reveal plans to strengthen its footprint in the fast-growing Asian private credit market by way of a partnership with Singapore-based brokerage firm UOB-Kay Hian

New Mexico sovereign wealth fund approves another USD 350m for private credit
Santa Fe-based fund invests in two managers as it focuses more heavily on direct lending, asset-based lending and special situations

UK manager launches new private credit growth fund
Manager held a first close of its new private credit growth fund with GBP 75m, as the UK-based firm continues to grow with new senior-level hires

Boston retirement system hunts for managers for USD 60m allocation to private debt
The Boston Retirement System has issued a request for proposals to investment managers in an effort to allocate up to USD 60m to private debt strategies

Wave of legal hires becomes a tsunami
In February alone legal heavyweights Allen & Overy, DLA Piper, Fried Frank, Kirkland & Ellis, Proskauer Rose and White & Case all announced the arrival of partners in the credit space

Texas-based pension system commits USD 90m to direct lending fund
The City of Austin City Employees' Retirement System, or COAERS, has committed USD 90m to the Blue Owl Diversified Lending Fund

PennantPark goes short for latest MM CLO
The primary CLO market saw a rarity yesterday when PennantPark Investment Advisers priced the first short-dated middle market CLO of the year

GSAM launches private credit fund for wealthy European investors
Goldman Sachs Asset Management is the latest firm to launch a private credit fund aimed at wealthy European individual investors, joining managers like Blackstone in the push for alternative fundraising sources

Dallas retirement system allocates USD 60m to credit funds
The Dallas Employees' Retirement Fund has allocated USD 60m to three separate credit funds as the Texas-based system grows its allocations to private credit and distressed debt

Recruiters predict renewed private credit hiring spree
While job-hopping has become commonplace in the post-pandemic landscape, companies are expected to slow hiring in 2024. But some sectors are bucking the trend, including private credit.

News in brief
Increasingly popular credit interval funds grow by $10bn in 2023 and New arrangers gather speed in US market

HPS prices new private credit CLO
This week has seen increasing amounts of deal flow emerging in middle market CLOs, and HPS Investment Partners joined in on Wednesday, pricing its first deal of 2024

Alternative asset managers increasingly tapping wealth channel for private credit fundraising
Wealthy individual investors have become increasingly appealing to alternative asset managers looking to raise money for private credit funds as asset managers look to broaden fundraising beyond institutional investors