Pemberton reorganizes, appoints new private credit leaders
The firm’s chief credit officer is leaving at the end of March, the company said

Amid rising caution, US public funds seek to de-risk private credit portfolios
Defaults, excessive capital raised in private credit drive caution, with senior direct lending and SMAs favoured for de-risking and savings

Davidson Kempner raises USD 1.1bn for private ABF strategy
The firm also held a final close for its Davidson Kempner Income Fund II, the second vintage fund under this global private asset-backed debt strategy

US public pensions seek ABL, Europe, and fee savings in private credit – Year in Review
Public pensions increasingly seek co-investments, custom accounts; Asset-based lending, specialty finance strategies gain traction from Debtwire Municipals

KKR confirms lack of exposure to First Brands, rejects concerns about cracks in private credit
In a new investment insight, KKR’s Daniel Pietrzak said that the failure of First Brands and Tricolor does not indicate cracks in private credit 

Pimco raises USD 7bn for asset-backed finance strategy
The capital was raised across a number of vehicles and included commitments from a diverse investor base that included individual investors as well as insurers

Pathlight secures USD 1.9bn for asset-based lending
The firm held a final close for its fourth fund and raised capital via its parallel evergreen fund

Future borrowers to use direct lending and ABF interchangeably – Rithm
Since acquiring direct lender Crestline, the investment manager is thinking about ways to offer borrowers options across asset-backed finance and direct lending

Private ABF lenders field diligence questions
The alleged collateral fraud at the heart of recent high-profile bankruptcies has put a spotlight on diligence standards

Manulife CQS looks to launch asset-backed finance product
EXCLUSIVE: The investment manager is now interested in offering investors dedicated asset-backed finance exposure

TCW warns of late-cycle behaviour in ABF rush
TCW’s head of asset-backed finance Dylan Ross jokingly advised shorting the ABF acronym

Blackstone raises USD 1.6bn for new high-yield ABF strategy
The alternative asset management giant is targeting USD 4bn for its new high yield, private-asset-based finance fund

Värde appoints head of ABF, hires ex-KKR MD
The appointments come as the firm looks to expand in the asset-based finance sub-sector of private credit

Asset-based lending increasingly acts as private debt diversifier
Direct lender Bow River is the latest manager to acquire a lower middle market asset-based financing firm as investors seek to diversify existing private debt portfolios

Bow River Capital acquires asset-based lending firm
The acquisition will add a 12-person team and a strategy focused on providing private, asset-based loans to companies in the lower middle market

Neuberger Berman launches asset-based credit fund for wealthy investors
The latest private credit vehicle is structured as an interval fund and will offer wealthy US individual investors daily valuation and limited quarterly liquidity

MidCap hires MD for asset-based lending originations
The new hire previously worked at Apollo-affiliated equipment finance platform Capteris

Private credit firms lean on origination partners to push into asset-backed lending
The private credit juggernaut keeps trundling on, with firms such as Carlyle and Fortress thrusting into the private asset-backed finance market, which by some estimates could be worth USD 30tn

NAV Financing and GP/LP Solutions: supercharging value creation with flexible financial technology
NAV loans are not new, but the adoption rate by sponsors is growing rapidly. What’s all the fuss about?

Sound Point scores USD 1.1bn first close for asset-based lending fund
The fund, which expects a final close by the end of the year, has already blown past its USD 1bn total target

Generali Investments backs new asset-based finance strategy
Generali-affiliated Aperture Investors also hired a new global head of asset-based finance

Sports investing is a growing field – Crescent’s Mark Attanasio
PODCAST: “There’s nothing more compelling than live sports,” says Mark Attanasio, co-founder of asset manager Crescent Capital Group and principal owner of Major League Baseball team the Milwaukee Brewers, on the latest Credit Exchange podcast with Lisa Lee

KKR grows ABF business to USD 75bn, expands origination
The alternative asset manager acquired a majority stake in a biopharma royalties business this week to add to its asset-backed finance business

Competition is erasing 'spicy' returns for larger ARR loans – HighVista
Lenders are pressured to offer more leverage, and pricing is starting to match EBITDA-based loans

Fortress rolls out hybrid, evergreen asset-based credit fund
The Asset-Based Credit II fund allows investors to roll commitments and earnings into successor funds in the same series