Carlyle snags Goldman’s Alex Chi for head of direct lending
Chi most recently served as co-head of Americas private credit at Goldman Sachs Asset Management

CalPERS hires Dutch pension alum to head private debt
The new hire fills the empty seat left by Jean Hsu, who retired from the position last year

CalPERS global head of private debt reappears at Antares
The retired investment professional joins the board of Antares’ BDCs

Blue Owl raises USD 850m from wealth channel for asset-backed debt fund
Following the close of this private offering, the alternative credit manager will be able to offer this fund to a broader investor base in a typical interval fund format  

Man Group to acquire CLO and private credit manager Bardin Hill
The USD 3bn credit manager, now named Bardin Hill, is a private credit and US CLO shop based in New York

Connecticut Retirement Plans and Trust Funds plans to commit additional USD 300m to Crescent Capital
Connecticut, Maine among pensions with recent expansions in private credit; Maine, Texas, Los Angeles pensions also disclose recent private credit investments

Investcorp passes halfway mark on second GP stakes fund
EXCLUSIVE: USD 600m raised to date against USD 1bn target of a strategy that was launched in 2019 and focuses on mid-market

Default expectations rise as tariff threats to North America deepen – IACPM survey
Credit portfolio managers across the world see tariff-related headwinds for both the US and Canada

Virginia, New Mexico among pension systems making new private credit commitments
Virginia Retirement System allocates USD 500m under credit strategies portfolio, while New Mexico State Investment Council allocates USD 250m to Fortress Investment Group and Indiana Public Retirement System commits USD 200m to HPS

Coller completes record private credit secondaries fundraise
The USD 6.8bn final close for the Coller Credit Opportunities II fund marks the largest fundraise to date for a private credit secondaries platform

PGIM shakes up credit platforms in major reorganization
The reorganization eliminates the separation between PGIM Private Capital and PGIM Fixed Income. The insurer-led firm appointed a single head of public and private fixed income  

CPP Investments backs Varde’s subline strategy launch
The Canadian pension giant provided USD 300m of strategic equity toward the new fund finance platform

US pensions' push into European private credit involves local expertise pursuit, mid-market strategy differentiation
The European credit market is expected to benefit from recent fiscal stimulus announcements and lower primary tariff impact, while mid-sized managers are likely to see growing demand for differentiated strategies

BlackRock pushes private markets for revenue diversification
The world’s largest asset manager is planning to launch three new private credit products for the wealth channel, in addition to its purchase of private credit shop HPS

US pensions increasingly eye European private credit amid expanding allocations, diversification pressures
US public pensions have committed at least USD 4.4bn to European private credit strategies since July 2024  

CalPERS invests USD 16.2bn in private debt, mostly through custom accounts
The institutional investor committed USD 12.2bn to the asset class across 17 customized investment accounts in the past 12 months  

LP secondaries sales can create risk to subscription lines – Fitch
However, a diversified limited partner base and lower advance rates for more concentrated funds can help mitigate losses, a report says

US middle market could offer good, unlevered returns in downturn—Kayne Anderson
The growth of BDCs and third-party valuation firms have also led to better practices in the industry, co-head of private credit strategies Douglas Goodwillie said

New York, Texas among pension systems taking new private credit actions
New York State Common Retirement Fund commits over USD 700m to ICG strategies, while Texas, DC, Los Angeles pension funds also disclose recent private credit investments

Connecticut, San Francisco among funds making new private credit moves – Public Pensions, Private Pursuits
EXCLUSIVE: Connecticut plans commitment to Anchorage Capital distressed credit funds; San Francisco, North Dakota, and Dallas funds disclose recent commitments

Crestline raises USD 1.7bn to lend to private asset funds
The firm held a final close on its third net-asset-value fund called Portfolio Finance Sentry Fund

Former Platinum Credit MD joins multi-manager platform Schonfeld
Jordan Stevens previously served as a senior credit deal lead for Platinum Equity’s private credit platform

Kayne Anderson to debut private BDC to tap affluent investors
EXCLUSIVE: Private BDCs, pioneered by some of the largest direct lenders in the market, are becoming a common vehicle across the private credit manager industry

Kayne Anderson raises more than USD 2bn for middle market direct lending
EXCLUSIVE: The firm plans to hold a final close for Kayne Anderson Senior Credit Fund V at the end of the year

Remora Capital Partners to launch inaugural private BDC
The firm expects the private BDC to reach a size of around USD 500m in around a year’s time