Charlesbank's head of credit says private loan trading is still niche and idiosyncratic
PODCAST: Sandor Hau, head of credit and managing partner at private equity firm Charlesbank Capital Partners, says deep expertise is still required to navigate the secondary market for private loans

Higher inflation and wider credit spreads weigh on European markets - Europe Macro View
Inflation pressures and geopolitcal uncertainity dampened the debt markets

Apollo launches daily pricing for all private credit strategies
The alternative asset management giant says investors will now get access to daily pricing for sub-IG credits; Apollo previously launched daily pricing for its investment grade credit assets in July

Allianz GI leads secondaries deal for Jefferies’ European direct lending fund
Jefferies Credit Partners, the asset management division of Jefferies, held a first close for the fund and now has an estimated USD 4bn for the strategy

Bridgepoint closes EUR 1.2bn private credit secondaries deal
Secondaries specialist Pantheon backed the transaction, which involved using a continuation vehicle to buy up assets in Bridgepoint Credit’s 2017 vintage direct lending assets

CVC launches debut private credit secondaries fund with USD 500m target
The new strategy broadens CVC’s existing secondaries platform, which has largely focused on private equity secondaries until now

Private credit trading has reasons to grow despite slow take off in Europe
Banks try to establish a secondary market for private credit; large unitranche deals drive private credit trading growth, while semi-liquid funds require asset trading to manage portfolios and meet redemptions

Capital One building a team in private-fund secondaries, private-capital raising
The Tysons, Virginia-based bank is looking for a managing director to lead the new Capital Solutions team

Secondaries emerge as preferred solution to liquidity and deployment pressures – Private Credit Comment
With a subdued M&A market stymying sponsors’ exit opportunities, and confronted with a more challenging backdrop for fundraising, some direct lenders in Europe are eagerly exploring private credit secondaries as a new avenue that can bolster liquidity for the asset class

Coller’s head of credit says volatility benefits secondaries market growth
PODCAST: Volatility is "a very good thing" for private credit secondaries, says Michael Schad, head of credit at Coller Capital, on the latest episode of Credit Exchange with Lisa Lee

Apollo facilitates trading of rated notes as secondary market emerges
EXCLUSIVE: Rated notes, which have become a popular tool to raise capital for private funds and give investors indirect exposure to risky private market assets, are starting to trade hands

Houlihan hires HarbourVest MD in GP-led secondaries push 
Dan Buffery joins the investment bank to help lead the firm’s North American GP-led secondaries advisory business

Coller and Cherry Bank to raise capital for private credit secondaries from Italian wealth market
Coller Capital has announced a distribution partnership with Cherry Bank to better sell its private credit secondaries investment product to affluent individuals in Italy

Direct lenders trade USD 5bn Dun & Bradstreet private credit loan at 95 cents on dollar
EXCLUSIVE: The giant USD 5bn unitranche, which brought together more than 20 direct lenders to back Clearlake’s acquisition of Dun & Bradstreet last year, is now being shown to private credit managers at a discount

Trading private credit: a market evolution or a risky mutation?
It is a process years in the making, but little by little private credit is developing a secondary market in which loan assets can be traded between investors

Hamilton Lane sold USD 330m private credit portfolio to Abry, Coller
EXCLUSIVE: Abry Private Debt partnered with Coller Capital to acquire the senior direct lending portfolio from Hamilton Lane’s evergreen fund

StepStone, Hamilton Lane reject criticism of secondaries valuation methods
Day one markups of secondaries seen as unsuitable for evergreens; managers claim returns driven by asset appreciation, not markups

Goldman Sachs is selling USD1bn of private credit loans bought from Apollo
EXCLUSIVE: The banking division has been in the process of selling a portfolio of loans acquired from Apollo

Abry Private Debt acquires USD 330m private credit portfolio
Abry partnered with Coller Capital on the credit secondaries transaction

CLO manager Sycamore steps into credit secondaries with new hire
The firm tapped a former managing director at Banner Ridge Partners to lead the new credit secondaries platform.

Direct lending secondaries are no longer worth paying par – Corbin Capital
EXCLUSIVE: The alternatives firm says it is unwilling to pay 95 cents on the dollar for any private credit secondaries deals right now as the market reprices

Blue Owl saw strong demand for USD 1.4bn of direct loans sold to investors
Blue Owl expanded the number of BDCs that sold private credit positions, including internet and software loans, to North American institutional investors at 99.7% of par value 

Coller backs continuation vehicle for Ares direct lending
Ares closed a GP-led secondaries transaction for its 2018-vintage US direct lending fund

Pantheon backs Eurazeo in EUR 480m private debt secondaries deal
Eurazeo announced it has closed a continuation vehicle, allowing some LPs to liquidate their shares early

Antares launches USD 1bn+ GP-led private credit secondaries deal
EXCLUSIVE: The firm is back in the market with its second continuation vehicle and has hired advisors to help run the process