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Direct lending defaults decline for all except middle market according to Proskauer
8 months ago
Default rates for US direct loans declined to 1.95% in the third quarter of 2024 from 2.71% in the second quarter, according to a new report from law firm Proskauer -
TPG Angelo Gordon raises nearly USD 2bn for private credit strategy
8 months ago
TPG Angelo Gordon has raised USD 1.82bn so far for its private credit fund called TPG AG Credit Solutions Fund III which is targeting USD 4.5bn in commitments
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Corinthia eyes EUR 1bn first close for maiden European direct lending strategy
8 months ago
Corinthia is on the cusp of holding a EUR 1bn first close for its inaugural European direct-lending strategy, four sources familiar with the situation said. -
Partners’ evergreen private credit fund raises another USD 466m
8 months ago
Partners Group has raised another USD 466m for the Partners Group Private Credit Strategy, according to filings from the SEC -
Competition for deals and rising rates encourage greater use of PIK clauses
8 months ago
Despite improving conditions in credit, the number of private credit deals paying payment-in-kind (PIK) interest is staying at high levels — but the drivers are changing -
Wall Street banks partner with private credit funds to ‘supercharge’ origination
8 months ago
JPMorgan and Citigroup are partnering with asset managers to broaden their reach into the burgeoning USD 1.7tn private credit market -
The middle market goes mainstream
8 months ago
Middle market CLOs were a niche product. Now we call them private credit CLOs — and they are growing faster than BSL CLOs -
Adams Street raises additional USD 289m for evergreen fund
8 months ago
Adams Street Partners has corralled an additional USD 289m for an evergreen direct lending fund that launched in 2020 -
Antares sets new triple-A tight with mid-market print
8 months ago
The relentless tightening of MM CLO spreads has continued with Antares pricing a new MM CLO with triple-As paying SOFR plus 157bps -
Apollo prioritizes origination as dry powder pressures mount in private debt industry
9 months ago
Apollo's Rowan says sourcing deals will be the limiter of growth for his industry rather than finding capital, and will prompt more tie-ups with banks -
GoldenTree to launch Private Credit Fund II
9 months ago
The second closed end fund in the GoldenTree Private Credit strategy should launch in the fourth quarter of 2024 -
US MM CLO Rankings - September 2024
9 months ago
Golub continues to pull away from the pack in our latest manager and arranger rankings for the US MM CLO market -
BNP Paribas AM raises EUR 90m for private debt fund of funds
9 months ago
A new fund of funds from BNP Paribas AM will target European special situations by investing in 6 to 8 private debt funds -
Mizuho takes minority stake in Golub, strikes distribution agreement
9 months ago
Mizuho Financial Group has acquired a passive, minority stake in Golub Capital’s management companies as part of a strategic partnership -
Middle market CLO spreads continue to tighten as Cerberus prices
9 months ago
The latest new middle market CLO from Cerberus priced with some of the tightest levels seen this year -
Defaults hit 5% YTD for US private debt-backed companies according to Fitch
9 months ago
The monthly default rate for North American private credit-backed companies hit 5% in August, driven by PIKs and interest deferrals -
HSBC launches first NAV financing strategy
9 months ago
HSBC Asset Management has continued its expansion into private credit with the launch of another new strategy -
Euro refinancing flows reverse as public debt supplants private according to S&P
9 months ago
S&P Global Ratings has assigned new ratings for nine European issuers of leveraged buyout structures refinancing private debt in public markets -
Ares strategy ‘links investing to purpose’ with 5-10% of profits donated to charity
9 months ago
Joel Holsinger at Ares Management has a proposition for investors: “We’ll make the same types of investments we’ve made historically for you, and we’ll contribute 5% to 10% of our profits to charity.” -
Credit hedge funds
9 months ago
Credit hedge fund performance for July 2024 -
Silver Point raises USD 4.6bn for opportunistic credit fund
9 months ago
It isn't just direct lending raising big checks. Silver Point blew past its target to bring in USD 4.6bn for a new distressed fund. -
Apollo eyes IG private debt trading
9 months ago
Apollo Global Management is looking to create a trading desk for investment grade private debt -
A new manager debuts as Willow Tree prices middle-market CLO
9 months ago
The CLO world welcomed a new manager on Tuesday when Willow Tree Credit Partners printed its debut CLO: a middle-market deal arranged by GreensLedge -
Corinthia Global Management eyes deployment in 4Q24
9 months ago
The upstart direct lender sued for lifting more than 20 staff from Barings is preparing to begin deploying capital as it announces a flurry of senior appointments -
Park Square raises EUR 3.4bn for direct lending strategy
10 months ago
Park Square continued its long standing partnership with SMBC as the cornerstone of a Eureopan direct lending fundraise
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