CalPERS reveals USD 3.9bn in private credit commitments
Public Pensions, Private Pursuits: CalPERS discloses 3Q24 private credit commitments, invests USD 16.9bn in 2024, and Connecticut, Oregon, Indiana, Texas, Jacksonville make investments   

L Catterton raises USD 450m in first close for debut direct lending fund
EXCLUSIVE: The direct lending arm of L Catterton launched the fund in 2024 and is targeting USD 1bn in commitments.

M&G plans private credit fund for UK defined contribution plans
UK regulator, the Financial Conduct Authority, recently approved the private credit feeder fund  

State Street, Apollo’s private credit ETF launched before addressing all regulatory concerns - SEC
The SEC published an open letter implying that the industry’s first private credit ETF launched this week without getting proper approval.

Blackstone plays ‘banker with a balance sheet’ to find lending deals
Blackstone’s BDC retreated to deploying in the upper middle market as the broadly syndicated market reclaimed large cap deals  

CVC blows past fundraising target on its European direct lending fund
The alternative investment manager has already increased the fundraising target once for the 2023 vintage fund  

Large cap deals generating higher percentage of private credit defaults, S&P says
Larger private debt deals were also more likely to include a payment-in-kind feature

Alaska ups private credit co-investing to combat fund fees
The Alaska Permanent Fund Corporation faces fee drag of around 15% for the asset class

Maine, Louisiana, San Jose, Kern County pensions make new private credit investments, plot future moves
Public Pensions, Private Pursuits: Maine PERS to further increase exposure to TPG Angelo Gordon’s direct lending arm

JPMorgan to kick start private debt fund for wealthy individuals
Structured as an interval fund, JPMorgan Asset Management plans to use the fund to invest across direct lending, asset based finance and distressed debt investments.

Neuberger Berman raises USD 1.6bn for asset-based finance
The majority of investors from the predecessor fund committed capital to the latest Fund III

Singapore plans USD 1bn private credit growth fund
The fund will be used to fund local enterprises, the prime minister and minister of finance said

AIMCo private markets head departs as New York office shutters
The New York office, open for just a year, was established last February to accelerate the growth of the institutional investor’s private credit portfolio and source investments

StepStone to launch private debt vehicle for European wealth investors
The ELTIF will invest in private credit asset classes across the European Union

Antares launches private credit fund for wealthy individuals
The new vehicle, started with USD 1.4bn in investable capital, will target the private wealth channel, a growing investor base to the private credit asset class

NYS, San Francisco, Arizona, Virginia, Texas, Fresno County disclose nearly USD 1.3bn private credit commitments

Fears about rates and the economy have dwindled and the outlook is positive
Bond yields are rising but capital markets remain full speed ahead

Need for scale fuels BDC consolidation
Business development companies (BDCs) — a popular type of private credit fund vehicle — have been merging to gain scale and lower costs, and more consolidations are expected in 2025.

Candriam partners with Kartesia on private debt fund for European retail investors
European private debt firms Candriam and Kartesia are launching a private debt fund for individual investors via European Long-Term Investment Fund 

Zips Car Wash pursuing bankruptcy to facilitate hand off to lenders
Financial sponsor Atlantic Street Capital is preparing to hand over control of portfolio company Zips Car Wash to its direct lenders through a Chapter 11 bankruptcy process

M&G to acquire majority stake in P Capital Partners
London-based investment firm to take 70% share in Swedish private credit business  

17Capital hires MD from Barclays to grow NorthAm presence
NAV specialist 17Capital has hired Ari Landsberg as managing director for investments in North America

Antares hires Olga Kosters to head credit secondaries
Antares Capital has hired Olga Kosters to head its credit secondaries business

GP-led deals to reach 50% of credit secondaries volume in 2025: Jefferies
Private credit secondaries volume will be increasingly driven by GP-led transactions this year, said Jefferies in a report

AXA IM Alts launches first evergreen private credit fund under ELTIF 2.0
AXA IM Alts has launched its first evergreen private credit fund that conforms to ELTIF 2.0