Macquarie expands CLO ambitions with acquisition of Euro platform Spire
The deal sees Macquarie expanding its CLO management presence across the Atlantic, as competition for a slice of the European market hots up

Software shakeout delays exits for some, opens buying window for others
Exit alternatives to full sales likely to pick up for software-focused sponsors; disruption may yield opportunities for take-privates, roll-ups of sub-scale players

New York Life Investment Management and Candriam increase Kartesia stake to 80%
The two firms previously held 33% of the ownership of the private debt company, which is expected to enter the European CLO market soon

CLO platform M&A sees green shoots
ANALYSIS: CVC’s recent agreement to acquire Marathon Asset Management in a deal that sees the top European CLO player double-down on its US CLO presence may prove the start of trend 

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

Credit secondaries poised for continued rapid growth – Antares CEO
Extended hold times and backlog of exits are driving increased activity, while credit secondaries volume more than doubled last year

CPP Investments open to buying another asset manager
The Canadian institutional investor, which acquired Antares a decade ago, would be open to another deal, head of capital solutions David Colla said at a media roundtable

TPG, Jackson Financial strike partnership focused on private credit
TPG will take a minority stake in Jackson and start by managing at least USD 12bn of the insurer’s assets

Blue Owl calls off BDC merger
The firm previously planned to merge its listed BDC, OBDC, with the nontraded BDC, Blue Owl Capital Corporation II

Finastra's banking software assets pique sponsor interest ahead of NBO deadline
EXCLUSIVE: Non-binding offers due on 11 November; Cinven, Brookfield, Warburg Pincus among suitors

Ares to acquire systematic credit shop BlueCove
The London-based fixed income manager invests in high-yield, corporate investment grade, convertible bonds and other liquid credit assets

Millennium Management explores buying a CLO manager
EXCLUSIVE: the global investment firm, with a multi-strategy hedge fund, is looking to enter the CLO business

HPS partners with Vistina on investment grade ABF
The new collaboration will give HPS parent company BlackRock greater access to the growing ABF market for its investors

Eagle Point and Apple Bank strike equipment finance JV
The new platform will offer bespoke financing options to companies with limited access to traditional bank lending programs

Insurer CNO takes minority stake in Janus Henderson’s Victory Park
CNO Financial Group also agreed to commit a minimum of USD 600m to new and existing investment strategies by the private asset-backed credit firm

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

PGIM and Partners Group to create public-private asset portfolio products
The two struck a partnership to create multi-asset investment products designed for both individual investors and the institutional investor channel

PineBridge explores sale of structured capital fund
EXCLUSIVE: PineBridge Structured Capital Partners III looks to sell debt and equity portfolio; fund invests in junior capital, closed at USD 600m in 2016

Samsung Life becomes latest institution to take minority stake in Hayfin
Insurer Samsung Life joins Mubadala and AXA IM Prime as minority stakeholders in Hayfin

Goldman, T. Rowe partner on public-private asset products for individual investors
As part of the agreement, Goldman Sachs will take a small stake in T. Rowe Price by purchasing up to USD 1bn in the publicly traded asset manager’s common stock

Rithm acquires Crestline, creating USD 98bn alts platform
Crestline adds USD 17bn in assets under management and capabilities across direct lending, fund liquidity solutions and insurance

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

Bow River Capital acquires asset-based lending firm
The acquisition will add a 12-person team and a strategy focused on providing private, asset-based loans to companies in the lower middle market