News in brief
Blackstone plays offense amid volatility

Are unusual deals from Clearlake and JPMorgan signs of things to come?
Deals that would have gone to public markets switched to private credit

CLOs that refinanced in 2024 are set to take advantage of market turbulence
There are opportunities for CLOs to build par through discounted purchases

Pemberton raises EUR 6.1bn for senior direct lending funds
The asset manager held a final close for Mid-Market Debt Fund IV and Senior Loan Fund II

PGIM issues new European CLO via HSBC
The deal is the manager's second new European print of 2025, and its third Euro transaction for the year to date

European CLO resets expected to continue throughout 2025 – Fitch Ratings
A report from the ratings agency indicates as many as 80 European CLOs from 2022 and after could be viable reset candidates this year 

Blackstone prices Euro market’s first reset in a month
The deal is the first European repricing since Sculptor European CLO IV was reset on 3 April

Clearlake launches Clearlake Credit to chase private and public credit investments
The new platform will integrate the newly acquired MV Credit and WhiteStar Asset Management

DWS axes Euro CLO management plans due to market volatility, shift in focus to private credit
The move comes amidst the departure of its head of European alternative credit, Dan Robinson

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

European CLO market value metrics slip as Trump tariffs roil leveraged loans – Deutsche Bank
CLO market value metrics declined as leveraged loan prices dropped; CLO credit metrics were a different story

CLO Symposium 2025
The Creditflux CLO Symposium will be held at the Nobu Hotel, London on 14-15 May 2025

Latham & Watkins hires two marquee structured finance lawyers
The law firm has recruited A&O Shearman veterans Franz Ranero and James Smallwood    

Wild volatility drives spike in secondary market activity, as primary market hits the brakes in Europe
EU ABS weekly digest: primary ABS and CLO markets hit the brakes, while the secondary markets saw a flurry of BWICs hit the screens in Europe

Trump's tariff U-turn sparks cautious tightening in secondary
ANALYSIS: European CLO market saw little forced selling, more BWIC activity with some percentage of DNTs

BWICs dominate CLO, ABS secondary activity as primary quietens
EXCLUSIVE: A flurry of BWICs hit screens this week, offering both CLOs and ABS, though some did not trade in Europe

Fair Oaks adds US dollar-hedged share class to Euro CLO ETF
Trading began on Monday, with a denomination size of USD 10

Trinitas prices new Euro issue with triple As at 124
The new issue priced on Monday, with deal activity expected to slow imminently

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

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

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  

Dechert adds Paul Hastings partner to bolster private credit, CLO biz
Brian Whaley will bring his experience in private credit, securitization and structured products to the global finance group

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.