We’re looking at a multi-year M&A uptick – Morgan Stanley head of private credit and equity David Miller
PODCAST: Speaking on the latest episode of Credit Exchange with Lisa Lee, Miller highlighted the impact of the large amount of fundraising and deployment that occurred in the 2020-2022 period as significant for his positive outlook

Cadwalader eyes CLO comeback post-merger
EXCLUSIVE: Cadwalader confirms plans to remain in the CLO business, and hopes to expand its client offering after the Hogan Lovells merger

M&A dealmaker denial over world’s ‘morbid symptoms’ risks rude awakening – Continental Drift
OPINION: Deal bullishness rules as geopolitical rupture rocks Western world; Carney draws line under old world order with Davos intervention, as inflation, consumer weakness and credit signals point to shaky reality

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

Churchill’s survey of private equity firms suggests M&A is returning to normal levels
Senior PE executives are confident in both deal activity and returns

AXA Prime, Mubadala take stakes in Hayfin as more private credit firms welcome outside investors
Private credit managers selling GP stakes to third parties has become more common as managers seek ways to spur additional growth

The M&A market is normalising – Ares’ Matt Theodorakis
PODCAST: “People are looking to do deals going forward” after taking a pause following ‘Liberation Day’, Theodorakis told Lisa Lee, managing editor at Creditflux, on the latest Credit Exchange podcast

PNC Bank to buy Aqueduct to grow fundraising service capabilities
The acquisition will add to the existing capital advisory services provided by PNC subsidiary Harris Williams

Clearlake launches Clearlake Credit to chase private and public credit investments
The new platform will integrate the newly acquired MV Credit and WhiteStar Asset Management

CLO manager M&A driven by search for talent and scale

This time around, BlackRock will be poised to be a shaper of the move
USD 12bn seems a lot to pay for HPS. But BlackRock urgently needed to catch up in private credit

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

Fidelity Investments buys Fidelity International’s European CLO platform
Life has become a little simpler for CLO investors, as the two different Fidelity CLO platforms combine into one manager

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.

Janus Henderson inks deal to buy private credit manager Victory Park 

Hayfin agrees to Arctos-backed management buyout
The management team at Hayfin Capital Management is taking over the company in a management buyout backed by Arctos Partners

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

Allen & Overy and Shearman & Sterling partners affirm merger
The partnership will help both firms expand internationally while changing the legal landscape

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

Sound Point to take on Assured's asset management business in new partnership
Assured Guaranty and Sound Point Capital Management have struck up a partnership, according to an announcement, which will make Sound Point the fifth largest CLO manager globally.

Sound Point holding CLO M&A talks which could catapult it to fifth-largest manager
Sound Point Capital Management is locked in talks with a large, global CLO manager over a deal that could take its CLO AUM north of $36 billion

Buy-out rumours send US high yield company back to January spread levels
Not many single name credits are ending 2022 at the same spread levels they entered the year, but one US high yield company has that profile after its rally of the past three weeks picked up speed following buy-out rumours

Franklin Templeton wraps up deal for $35bn Alcentra
Franklin Templeton has completed its acquisition of BNY Mellon’s $35 billion credit unit Alcentra

Nuveen strikes deal to buy European direct lender Arcmont
Nuveen has reached an agreement to buy a controlling stake in European credit manager Arcmont Asset Management

PE firm Nile buys minority stake in Prytania AM
Nile Capital Group has bought a minority stake in a structured credit specialist