First Eagle taps AlbaCore alum for alternative credit product sales
Edward Berry joins as a managing director in London and will help distribute the firm’s alternative credit products, including those under the Napier Park brand

LBOs, new loan supply expectations reset amid Iran war, AI-related disruptions
Loans in previously overlooked sectors are gaining more attention amid the upheaval, according to panellists at this week’s Creditflux CLO Symposium

European CLO equity returns under pressure—BofA report
A challenging situation in the loan market means CLO managers may have to reinvest recoveries at unfavourable cash prices

All systems go as Fortress embarks on European dream
Fortress has long been planning its European expansion. Now it’s hiring and upsizing in London

Alcentra adopts BSP brand, winds down direct lending biz
The Franklin Templeton-owned credit shops have also created a new global executive committee that brings together leaders from BSP, Alcentra and the newly acquired European lower middle market lender Apera

Private credit investors chase higher risk-return—Campbell Lutyens
A new survey shows investors are seeking higher returning strategies amid expectations of lower rates, while also turning away from the dominant North American market

North American and European credit defaults to fall next year – S&P Global
Global credit default rates will remain contained next year with North American defaults falling to around 4% 

CLO issuance projected to hit new records in 2026 – KBRA
The ratings agency projects USD 220bn in issuance across US BSL CLOs and private credit CLOs as well as five to six European private credit CLOs next year

CVC raises USD 700m for CLO equity fund, plans new products
The European private credit manager also expects to hold a final close for its European Direct Lending Fund IV in late 3Q

Proskauer adds leveraged finance partner in London
The law firm has recruited Peter Mason from White & Case to join its global finance practice, the latest in a series of recruitments

BNP Paribas taps alts head for combined BNP, AXA IM group
Isabelle Scemama will oversee more than EUR 300bn in assets as the two groups merge

As direct lenders seek efficient, scalable financing tools, private credit CLOs are growing fast
PCLOs have reached USD 135bn, or 13% of the overall CLO market

Wendel announces purchase of majority stake in Monroe Capital
French investment firm Wendel announced on Tuesday it has agreed to acquire 75% of US private credit firm and CLO manager Monroe Capital for USD 1.13bn, as part of its planned expansion into third-party asset management.

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

Billion-dollar Adams Street CLO is private deal for single investor
New details have emerged of the unusual billion-dollar middle market “CLO” that Adams Street Partners closed last week

Muzinich hires head of alternative credit solutions and strategy
Muzinich has hired Rehan Virani in the newly-created role of head of alternative credit solutions and strategy as the New York and London-headquartered credit specialist continues to expand its private credit and CLO strategies

DWS expands in London with new senior investment manager role
London-based Roscoe Roman has joined German asset manager DWS, in the newly created role of senior investment manager for alternative credit (EMEA)

Moody’s helps European private credit CLOs move step closer to reality
Talk is again swirling in the European CLO market that this will be the year a middle market deal is priced. Many market participants remain sceptical given the long history of disappointments in this area, but concrete steps are being made, especially by the rating agencies.

Credit hedge funds
Credit hedge funds

Credit funds at a glance
Credit funds at a glance

Wave of legal hires becomes a tsunami
In February alone legal heavyweights Allen & Overy, DLA Piper, Fried Frank, Kirkland & Ellis, Proskauer Rose and White & Case all announced the arrival of partners in the credit space

Permira confirms co-heads of credit platform
European alternative credit manager Permira Credit has named David Hirschmann and Ariadna Stefanescu as co-heads, effective immediately, as parent company Permira makes plans to expand the credit business

Expect to see a European MM CLO this year, conference hears
A European middle-market CLO is closer than ever to becoming a reality in 2024, according to the consensus view at S&P Global’s 2024 Structured Finance Outlook

Global CLO rankings - FY 2023
Our full rankings for the global CLO market, including arrangers, law firms and trustees

2023: a bumper year for CLO funds
It looks like 2023 will finish as a solid year for most credit funds, and an outstanding one for CLO funds. But funds pursuing corporate distressed strategies continued to struggle