Alternative PE lending puts pressure on LP-GP alignment
Loans that use fund NAV or GP earnings as collateral are growing in popularity. But some feel these deals could have unforeseen effects and hinder transparency in LP relationships

Blue Owl scoops up Atalaya Capital for USD 450m
Private credit manager Blue Owl Capital is raising the stakes on its place in the USD 1.7trn global market with the purchase of asset-based credit specialist Atalaya Capital

Boston pension system selects new private credit manager
The Boston Retirement System has selected a new manager and made a commitment to its private debt strategy, according to recently released minutes

Ares receives another USD 100m for its third direct lending fund
Ares Management continues to inch towards its goal of raising USD 10bn for its third senior direct lending fund with a recent commitment from a pension fund.

BlackRock expands investment grade private credit team
BlackRock has hired a senior executive from Pacific Life to lead the firm’s investment grade private placement platform

New Mountain Capital BDC raises nearly USD 860m
New York-based alternative asset manager New Mountain Capital has held close of its New Mountain Guardian IV BDC 

Funds round up: April 2024
Allocations to private credit and new fund launches continued to roll out in April, as our monthly round-up confirms

Golub raises USD 2bn for sixth credit opportunities fund
Golub Capital has held the final close of the sixth vintage of its credit opportunities fund, raising USD 2bn

Golub hires from MetLife for new insurance solutions team
Golub Capital has launched a new insurance solutions team, as the firm continues its multi-year plan to build out its investor partners group

Baltimore pension system puts USD 35m into private credit fund
The City of Baltimore's Fire & Police Employees' Retirement System recently allocated USD 35m to a private credit fund

Private credit firms chase opportunities in asset based lending as US banks withdraw
Lending against assets is becoming the fastest growing part of private credit. The market is expected to grow from roughly USD 787bn in 2024 to more than USD 1.26trn in 2028, according to a report by Research and Markets, a data and statistics firm.

Schroders Capital adds two senior members to private debt and credit alternatives platform
Schroders has made two senior-level hires following last fall's consolidation of its debt and alternative credit strategies onto a single platform

Texas pension system commits USD 100m to direct lending
The Texas County & District Retirement System recently allocated USD 100m to a direct lending fund at its 1 April meeting

San Francisco pension system continues to invest in private credit
The board of the San Francisco City & County Employees' Retirement System has allocated USD 75m to a credit special situations fund  

Louisiana pension system allocates to private credit
The Louisiana Teachers’ Retirement System has recently made a fresh round of commitments to alternative funds, including to private credit.

Chicago pension system allocates USD 40m to private credit
The Policemen's Annuity and Benefit Fund of Chicago approved two commitments to private credit totaling USD 40m at its 24 January meeting

Ares launches third vintage of senior direct lending fund
Ares Management recently filed regulatory documents with the US Securities and Exchange Commission for the Ares Sr Direct Lending III Access Parallel

Funds round up: private credit reaches for retail
A number of new credit funds launched last month to round out 2024's first quarter, including ones in Europe aimed at retail investors

Akin hires Paul Hastings lawyer for private credit practice
Akin Gump Strauss Hauer & Feld continues to expand its special situations and private credit practice with the hire of a new partner in the group

Barings shrugs off team liftout with new private credit deal
Barings is putting up a fight in the private credit market despite the dramatic loss of 20 members, acting as lead agent on a new private credit deal

New Mexico sovereign wealth fund pumps an additional USD 450m into private credit
The New Mexico State Investment Council latest commitments to private credit total up to USD 450m, spread across three managers

Monroe Capital expands in Middle East with new hire and Abu Dhabi office
Monroe Capital has hired Waleed Noor as managing director and head of Middle East distribution, as private credit funds continue to target LPs in the region

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.

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