Ares lowers 2024 tights with new middle market CLO
Ares continued its busy year with its 22nd transaction – a new middle market CLO that set a new triple-A tight for 2024

Comvest reshuffles credit leadership as Falk steps back
Michael Falk, Comvest Credit Partners' co-founder and chief executive officer, has now assumed the role of executive chairman

Barings prices reset of 2023 middle market CLO
Barings has reset a 2023-vintage static CLO into a reinvesting deal, bringing in the triple-As 77bps at the same time

White Oak expands ABL unit with addition of new managing director
White Oak hires Matthew DeBernardo to help generate new business across the US in asset-based lending and factory facilities   

HighVista aims for USD 500m for third private credit fund
HighVista raised USD 78m as the Boston-based alternative asset manager targets USD 500m for its third private credit fund 

Paul Hastings hires partner from Simpson Thacher & Bartlett
New York-based Ismael Duran will join the Paul Hastings’s finance and private credit practices from Simpson Thacher & Barlett 

Churchill raises more than USD 350m for junior capital debt fund
Churchhill Asset Management raised funds for junior capital direct lending to sponsor-backed US companies

Davis Polk hires three fund formation lawyers from Debevoise
Law firm Davis Polk is growing its investment management practice with the addition of three new partners joining in New York

Non-bank venture debt lenders see increase in deals after tough 2023
Venture debt is making a comeback. In the first half of 2023, following the collapse of Silicon Valley Bank (SVB), the volume of deals was just USD 3.5bn

Search for diversification begins as direct lenders predict uptick in defaults
Amid the buzz of private credit there are doubts, as headwinds have caused the market to become cautious as competition increases.

By raising billions, private credit funds are causing a seismic shift in leveraged finance
Private credit funds are amassing a huge war chest that’s permanently changing the complexion of the leveraged finance market

Guardian transfers USD 30bn of assets to HPS as partnership deepens
Insurance company Guardian will increase its minority equity stake in HPS and transfer USD 30bn of assets as part of expanded strategic partnership 

Blue Owl raises USD 400m in 12 months for direct lending fund
New York-based Blue Owl Capital has now raised approximately USD 1.9bn to date for a diversified lending fund, including USD 400m in the last 12 months

Public Pensions, Private Pursuits: 5th-9th July 2024
Florida, Wisconsin, and Vermont pension systems disclosed new private credit commitments, while the New York State (NYS), New Mexico, and Alameda County, California funds planned future mandates

German manager launches two new private credit fund-of-funds
YIELCO Investments, a German alternative asset manager, is planning a 2024 first close for two newly launched private debt fund-of-funds

US MM CLO Rankings - July 2024
Our latest rankings for the US MM CLO market, including arranger and manager league tables

Ares closes USD 34bn senior direct lending fund
Ares has closed what could be the largest direct lending fund ever with nearly USD 34bn raised, including USD 15.3bn in equity commitments

Hayfin agrees to Arctos-backed management buyout
The management team at Hayfin Capital Management is taking over the company in a management buyout backed by Arctos Partners

Churchill hires from FS Investments to grow wealth channel
New York-headquartered Churchill Asset Management has hired a new managing director and head of investor relations, retail & wealth 

Jefferies stokes middle market with new CLO
Middle market CLO issuance has slowed a little in recent weeks, but that changed last week when Jefferies Credit Partners priced its first deal in 13 months

Private credit default rate rises sharply, according to new report
The second quarter of 2024 saw a further increase in the default rate for US middle market companies, according to legal firm Proskauer's latest report

Connecticut pension allocates USD 300m to Oaktree’s distressed credit fundraising
Connecticut pension system commits to Oaktree latest flagship distressed credit fund

Blackstone reports 18% return from private credit over last 12 months
Blackstone's private credit and liquid credit returns outperform private equity investments in the last 12 months

M&A activity on fire in private credit despite overall M&A slowdown
The M&A market has had a rough time in the past 12 to 18 months, but there’s one area that’s bucking the trend: private credit