Blackstone starts new fundraising round for institutional, evergreen US direct lending fund
The alternative asset management giant is back to raise more capital for Blackstone Senior Direct Lending Fund after previously closing on USD 22bn in October 2024

LPs seek cyclical private credit play amid US economic uncertainty
Many LPs pivoted to all-weather private credit strategies in recent years, but interest in more opportunistic and special-sits strategies reliant on a credit downturn are picking up once more

Altice France new capital structure starts trading as investors consider M&A potential
Restructuring completed as secured debt trades; break-up of Altice France business possible through sector consolidation

HSBC AM launches evergreen fund targeting trade, working capital assets
The new private credit strategy will invest in assets such as receivables and payables finance, trade loans and other instruments around the world

BC Partners Credit launches evergreen fund for dedicated specialty finance strategy
EXCLUSIVE: The new vehicle will be seeded with eight performing specialty finance loans

AlbaCore hires four to launch infra debt strategy
The European credit specialist jumps into the infrastructure space for the first time, tapping the former head of infrastructure debt at UBS Asset Management to lead the effort

Private credit inflows face uphill battle even as 401(k) doors open
Although US President Trump’s executive order opens defined contribution retirement plans like 401(k)s to private credit investments, a sudden and meaningful rise in inflows is unlikely 

PGIM shakes up credit platforms in major reorganization
The reorganization eliminates the separation between PGIM Private Capital and PGIM Fixed Income. The insurer-led firm appointed a single head of public and private fixed income  

Arena raises more than USD 1bn for multi-strategy credit
The firm held a final close for its latest flagship fund

Buyout Highlights - Overview of Europe Buyout and Financing Trends 1Q25
Leveraged loans are again the main source of financing for LBOs in Europe, providing 65% of the total volume issued in 1Q25  

Invesco raises more than USD 700m for distressed debt, special situations investments
Invesco Credit Partners III has yet to hold a final close and has already surpassed the size of its predecessor

Crestline raises USD 3.5bn for sponsor and nonsponsor-backed direct lending
The firm held a final close for its Crestline Direct Lending Fund IV

Maine, Louisiana, San Jose, Kern County pensions make new private credit investments, plot future moves
Public Pensions, Private Pursuits: Maine PERS to further increase exposure to TPG Angelo Gordon’s direct lending arm

Direct lending defaults decline for all except middle market according to Proskauer
Default rates for US direct loans declined to 1.95% in the third quarter of 2024 from 2.71% in the second quarter, according to a new report from law firm Proskauer

Fund performance
August returns were largely positive for credit hedge funds, as 88% of those listed in the Creditflux database reached into the black

September 2024 US Leveraged Highlights
While new money activity in the loan market reached its highest point in the last 18 months in 3Q24, it remains significantly lower than historical averages

Private credit default rate rises sharply, according to new report
The second quarter of 2024 saw a further increase in the default rate for US middle market companies, according to legal firm Proskauer's latest report

Fund performance
CLO funds dominate again as they take 18 spots in top 30 list

Allianz gears up to launch European credit impact investing fund
Allianz Global Investors filed regulatory documents in Luxembourg this week for a new impact investing fund, the latest in a string of similar strategies

Credit PMs remain gloomy in latest IACPM survey
Survey participants in the latest IACPM Credit Outlook Survey believe the euphoria seen in global financial markets during the last few months of 2023 was overdone

Riverstone Credit Partners co-founders launch new energy credit investment company
New energy industry credit investment firm Breakwall Capital will focus on sustainable infrastructure investments, the circular economy and next-gen fuels

Fund performance
Q4 has kicked off with structured finance funds leading the way in the Creditflux league tables, as the category index reached 0.61%, and all but one fund made positive returns.

BNP Paribas launches climate impact infrastructure debt fund
BNP Paribas Asset Management has launched the BNP Paribas Climate Impact Infrastructure Debt fund as interest in impact investing and ESG-related causes continues to grow around the world

November 2023 US Leveraged Highlights
Debtwire today releases the November 2023 US Leveraged Highlights, featuring key trends in the leveraged loan and high-yield bond markets