HPS deal is expensive but catapults BlackRock into private credit top five
BlackRock is poised to become one of the largest private credit managers in the world after agreeing to buy private credit manager HPS Investment Partners at a rich 30x multiple

BlackRock acquires HPS in USD 12bn deal
BlackRock has acquired HPS Investment Partners for USD 12bn in an all-stock transaction, creating a private credit franchise with a combined USD 220bn in client assets

VSS Capital Partners sells minority stake
VSS Capital Partners, which manages investments across US private debt and equity, has sold a minority stake to Pinnacle Investment Management Group

Trump victory raises hopes for high yield markets, M&A revival
Leverage finance markets cheered Donald Trump’s win on the prospect the former president’s return to the White House will unleash deregulation and M&A, lower taxes and higher economy growth

Allianz and AlTi launch new private debt program for UHNWs
Allianz X has struck a joint venture with global wealth management firm AlTi Global to create a private debt investment program for ultra-high-net-worth investors

BC Partners acquires US venture cap lender
The direct lender acquired by BC partners provides loans to venture and non-venture companies and manages a BDC focused on VC lending

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.

Ares scoops up Riverside Credit Solutions for undisclosed amount
Ares Management has completed the purchase of lower middle market specialist Riverside Credit Solutions

Janus Henderson inks deal to buy private credit manager Victory Park 

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

Golub signs strategic partnership with Nassau Financial Group
The private credit manager announced the partnership with Nassau Financial Group, including an investment of USD 200m in equity into Nassau's insurance arm

Raymond James and Eldridge Industries launch private credit platform
Raymond James and Eldridge Industries are the lastest additions to the growing list of traditional banks and asset managers teaming up to expand their private credit platforms

Direct lender Raven separates from Metlife just one year after it was acquired
Raven Capital Management, a New York and Santa Monica-based private credit specialist, has parted ways with parent company Metlife after just a year under its ownership

New report finds 2023 a record year for alternative credit M&A
A new report on “Acquisitions of Alternative Credit Managers” by credit specialist Gapstow forecasts that more M&A activity lies ahead for credit firms as they struggle with the challenges facing the broader investment management industry

Aquarian buys minority stake in Obra
Obra Capital revealed in Monday that it had sold a minority equity ownership stake to Aquarian Holdings

Obra completes acquisition of KDP assets following bankruptcy filing
Obra Capital has acquired the assets of KDP Investment Advisors following the latter firm's chapter 11 bankruptcy filing in May of this year

Generali Investment acquires Conning
Generali Investment's acquisition of Conning Holdings will allow both firms to scale across geographies and investment capabilities.

Monroe Capital completes latest acquisition
Monroe Capital acquires venture debt lending firm for undisclosed amount. 

Man Group moves into US private credit with new acquisition
Man Group is buying US middle market lender Varagon Capital, according to a company announcement, in a $183 million deal due to complete in Q3 2023.

TPG buys Angelo Gordon for $2.7 billion
TPG has entered into an agreement to buy Angelo Gordon in a cash and equity deal valued at around $2.7 billion, the firm has announced

TPG in talks to buy Angelo Gordon: Bloomberg
The deal marks the private equity firm’s first foray into credit since parting ways with its credit arm Sixth Street in 2020

PGIM buys majority stake in direct lender Deerpath
PGIM has bought a majority interest in direct lending firm Deerpath Capital Management

L Catterton plots credit platform growth with Hunter Point minority stake
Hunter Point Capital has bought a minority stake in L Catterton, with a particular focus on helping grow the firm’s new credit business

Apollo launches Atlas to shoulder assets from Credit Suisse unit
Apollo Global Management’s acquisition of Credit Suisse’s securitised products group has reached a milestone with the launch of a standalone business known as Atlas SP Partners