Evolving M&A is transforming the capital formation landscape – KKR
'Critical' link between M&A and credit is set to fuel growth in private markets

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

Man Group to acquire CLO and private credit manager Bardin Hill
The USD 3bn credit manager, now named Bardin Hill, is a private credit and US CLO shop based in New York

Clearlake seals largest new direct lending deal for Dun & Bradstreet
Ares leads deal, taking USD 1.5bn; Morgan Stanley, Clearlake Capital Markets, Golub and Blue Owl also helped arrange the largest new unitranche ever

Clearlake, direct lenders plan to ink USD 5bn private credit loan for Dun & Bradstreet
EXCLUSIVE: A group of direct lenders led by Ares are wrapping up a USD 5bn term loan and USD 500m revolver, prepping to sign commitment documents within hours

Clearlake set to seal private credit loan to replace risky Dun & Bradstreet financing
EXCLUSIVE: Ares leads USD 5bn unitranche loan with JPMorgan among expected lenders that will replace original 364-day financing

TPG, Temasek take minority stake in private credit interval fund pioneer Cliffwater
Cliffwater has nearly USD 28bn in its flagship private credit interval fund, the largest in the US

Bank-asset manager partnerships reach European shores
EXCLUSIVE: the recent announcement from Arini and Lazard shows how new entrants into the direct lending market might copy the US model of leaning on bank partners

Coller Capital buys USD 1.6bn portfolio, claiming largest senior direct lending secondaries deal
The private markets secondaries specialist has acquired a senior direct lending portfolio from a multiline US insurer

BMO strikes partnership with firm founded by ex-CBAM’s Young and Damaso
BMO and Canal Road Group have struck a direct lending partnership that includes BMO taking a minority stake in the asset management company and investing up to USD 1bn 

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

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.

Lloyds Bank joins forces with Oaktree for European direct lending platform
Lloyds Bank and Oaktree Capital Management have formed a new multi-year European direct lending facility

New direct lending business formed after management buyout
503 Capital Partners, a new direct lending business, has been formed as part of a management buyout of Tortoise Capital Advisor's private credit arm

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

AEW Europe completes deal to buy private debt manager Natixis
AEW Europe has finalized a deal to buy private debt platform Natixis Investment Managers International for an undisclosed amount, as the European real estate investment manager continues to expand its global direct lending footprint

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 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

First Sentier buys majority stake in credit firm AlbaCore
First Sentier Investors has bought a majority stake in European credit specialist AlbaCore Capital Group, the firms announced today, after identifying alternative credit as a ‘strategically important space’

FS and Portfolio Advisors join forces to create $73bn asset manager
FS Investments and Portfolio Advisors have announced a merger in a deal which will see Portfolio Advisors become the institutional investment arm of FS

Nassau adds $3.6 billion credit firm Angel Island to its platform
Under the deal, Angel Island will become a subsidiary of Nassau’s asset management unit, Nassau Asset Management