Some BDCs find early success in race to bring down redemption requests
EXCLUSIVE: Most perpetual nontraded BDCs, however, are expected to see elevated redemption activity throughout 2026 and possibly into 2027 

News in brief
Top stories on creditflux.com: from First Trust’s CLO start to Apollo’s next generation

Oaktree partners with Pantheon to launch standalone European direct lending strategy
The partnership will have the capacity to grow to EUR 1bn of investable capital and is being seeded by an existing portfolio of European direct lending assets

Oaktree’s deputy CIO of strategic credit says we’re in the early innings of private credit dislocation
Oaktree has been very opportunistic about deployment in cycles or dislocations, which the market may be in the early stages of, says Milwood Hobbs, Jr., deputy chief investment officer of the firm’s strategic credit platform, on the latest episode of the Credit Exchange podcast with Lisa Lee

New York, Connecticut among systems pursuing alternative credit strategies
NYSCRF allocates USD 450m to net-lease, GP stakes funds; San Diego, San Mateo pensions commit to asset-based finance funds

Indiana, New York systems pursue diversification with large opportunistic credit commitments
INPRS commits USD 1.6bn, NYSTRS USD 450m to opportunistic/specialty funds; Ventura County pension plans USD 220m in private credit commitments

Oaktree prices tightest US CLO in a month
The manager’s latest new US BSL CLO priced at the market’s narrowest level since the end of March, issuing its triple As at SOFR plus 123bps

Oaktree prices US and European CLOs in single day

Oaktree priced two CLOs to close out last week – a new European issue titled Arbour CLO XVI via Citi, and a reset of a 2024-vintage US BSL transaction through SMBC Nikko

Oaktree’s semi-liquid private credit fund covers all exit requests totaling 8.5%
The fund, which leaned on parent company Brookfield to cover the surge in redemption requests, also cut dividends

AI’s potential may be underestimated despite investing concerns – Howard Marks
AI’s potential is likely underestimated, but worries about job losses and an AI investment bubble persist, said Oaktree co-founder Howard Marks in a new memo

NYS system commits USD 500m as Illinois plans private credit RFP
NYSCRF allocates USD 500m to BlackRock, Ares and Pearl Diver; Boston, San Joaquin pensions also reveal recent commitments; Illinois police pension plans private credit search in June

Oaktree expands UCITS offerings for EMEA, APAC, and LATAM investors
The Oaktree Global Credit Select Fund is intended to address demand across the regions for regulated, daily-liquidity investment offerings

Oaktree collaborates with parent Brookfield on ABF product for US individuals
The new product launched with USD 400m in committed capital and will give wealthy US individual investors access to Oaktree’s asset-backed finance expertise

Former Permira and ICG execs join Oaktree’s expanding European private debt team
Permira’s ex-CEO James Greenwood has been named senior advisor, while former ICG managing director Kieran Thind is now senior vice president in Oaktree's European private debt team

Oaktree Capital’s Robert O’Leary on threats, opportunities in global credit
Credit secondaries set for continued growth as financial sponsors seek liquidity solutions; high-yield bonds seen as defensible, while opportunistic strategies may benefit from distress

Trinitas and Oaktree price European resets with AAAs at 130
Trinitas reset a 2024-vintage deal, while Oaktree repriced a nine-year-old transaction that was last reset in 2021 at historic tights

Oaktree raises USD 2.35bn for insurer-friendly evergreen direct lending fund
The fund, designed for institutional investors, will follow a senior direct lending strategy and focus on the middle market

Brookfield to buy remaining Oaktree stake, becoming full owner
The USD 3bn transaction will give Brookfield full ownership of the top-40-ranked CLO manager

Apollo, Oaktree and Searchlight among funds sitting on USS debt as company doesn’t make payment
EXCLUSIVE from Debtwire: Forbearance agreement reached between USS and creditors, as USS struggles financially despite recent LME efforts

Oaktree raises EUR 200m to fund its European CLOs
The sophomore fund has already begun deploying capital, the company said

Oaktree hires former BlackRock MD for private debt sourcing
The former BlackRock managing director joins to source private debt deals in North America

New Euro AAAs breach 130 as Oaktree prices latest deal
The transaction hit fresh new-issue market tights for the triple As, double As, double Bs and single Bs

Brookfield raises USD 16bn for credit, plans asset-based finance strategy
The firm is also planning to hold a first close for its infrastructure mezzanine debt fund

17Capital raises USD 5.5bn for NAV lending to private funds
The alternative credit firm claims its 17Capital Strategic Lending Fund 6 is the largest NAV lending fund seen in the market to date

Investors still pivoting to fixed income – Oaktree’s Wayne Dahl
Both large individual and institutional investors are continuing to rotate their portfolios into fixed income, says the co-portfolio manager of global credit and global credit investment grade strategies at Oaktree Capital Management, on the latest edition of the ‘Credit Exchange’ podcast with Lisa Lee