Leucadia seeds European distressed and credit opps firm Pearlstone
New opportunistic credit firm Pearlstone Alternative has received backing from Leucadia Asset Management in the form of seed capital and distribution services

Franklin Templeton buys Alcentra in $700 million deal
Franklin Templeton has agreed to buy BNY Mellon’s $38 billion credit unit Alcentra, which will see Alcentra combined with Franklin Templeton’s US credit manager Benefit Street Partners

Spac pricing hints at Sound Point's growth ambitions in loan market
Sound Point Acquisition Corp has priced a $225 million IPO, signalling that credit asset manager Sound Point Capital Management is looking to expand its platform

That's my ResponsAbility: M&G to buy Swiss impact investor
M&G says it has agreed to buy a majority stake in $3.7 billion Swiss impact private debt and private equity manager responsAbility Investments to grow its sustainable investment capabilities

KKR and PGIM among bidders to buy Alcentra: Bloomberg
BNY Mellon is set to offload its credit investment unit Alcentra, according to a report by Bloomberg citing people familiar with the matter

Gapstow expects strategic deals as credit manager M&A volume slumps to $120 billion
M&A volume involving credit asset managers dropped last year with total target value assets under management slumping to $120 billion from $149 billion in 2020 (and $254 billion in 2019), according to Gapstow Capital Partners

Park Square sells minority stake to Bonaccord
Bonaccord Capital Partners has bought a minority stake in $10 billion private credit shop Park Square Capital

Wells Fargo AM becomes Allspring under new ownership
Wells Fargo Asset Management has completed its transformation into Allspring Global Investment 

T Rowe Price to buy Oak Hill for up to $4.2 billion
Oak Hill is set to become T Rowe Price’s private markets platform, led by Oak Hill’s chief executive officer Glenn August

Brevan Howard buys stake in structured credit fund manager led by former employee
1543 Capital and Brevan Howard have strengthened their ties with market sources indicating that Brevan Howard has acquired a minority equity stake in the manager

BNP Paribas buys majority stake in Dutch mortgage lender
BNP Paribas Asset Management says it is acquiring a majority stake in Dynamic Credit Group, a mortgage lender based in Amsterdam.

Goldman Sachs strikes €1.6 billion deal to buy Dutch asset manager NNIP
Goldman Sachs has struck a €1.6 billion deal to buy focused Dutch asset manager NN Investment Partners from insurer NN Group

Candriam and NYL buy stake in European direct lender
Candriam and its affiliate New York Life Investments Alternatives have bought a minority equity stake in a pan-European private debt firm

EQT completes sale of credit business to Bridgepoint
EQT has completed the sale of its €3.9 billion credit business segment to Bridgepoint

Alantra buys 49% stake in European direct lender
Alantra has bought a 49% stake in European mezzanine and junior private debt manager Indigo Capital, which it says will consolidate its position in the French sponsorless market and accelerate its growth in Italy and other European geographies 

Eurazeo accelerates timeline to buy remaining 20% of Idinvest shares
Eurazeo has struck an agreement to accelerate its purchase of middle market firm Idinvest Partners before the end of 2020

Azimut purchases 20% stake in US private credit manager
Azimut Group has purchased a 20% equity stake in a $2.1 billion opportunistic private credit manager

Bain buys former Italian bank to strengthen NPL platform
Bain Capital Credit says it has bought an entity known as Hypo Alpe Adria from the Austrian government to strengthen its Italian non-performing loan business

Candriam agrees deal for Rothschild's European fund of fund business
Candriam has bought Rothschild’s “multi-management” business, representing €350 million of assets

Natixis's Ostrum and La Banque Postale AM merge to create €415 billion firm
Natixis has agreed to merge its Ostrum fixed income asset management arm with La Banque Postale's insurance-related asset management business

Bridgepoint buys EQT's credit business - report
Bridgepoint is buying the credit business of EQT, according to the Financial Times

Goldman Sachs in talks to buy minority stake in Permira
Goldman Sachs is looking to buy a minority stake in private equity firm Permira

PE firms look to go it alone as credit units reach maturity
Private equity firms are starting to weigh up the merits of housing private debt businesses, with TPG Capital the latest to contemplate splitting with its credit business TPG Sixth Street. It follows EQT Capital, which announced a strategic review in January centred on parting ways with its credit unit.

Apollo ups stake in Athene to 35% through stock deal
Apollo Global Management is doubling its stake in Athene Holding to around 35% by exchanging $1.2 billion of common equity and buying $350 million extra of Athene stock

Jupiter in talks to buy Merian for £370 million
Jupiter Fund Management is in talks to acquire Merian Global Investors for £370 million ($482 million), according to a joint statement by the firms