The British Business Bank (BBB) has increased its commitment to Beach Point Capital UK’s SME lending fund to £50m. The BBB previously backed the fund in July 2022 with a £20m commitment. Beach Point Capital UK was initially targeting a minimum of £10m to be invested in Northern Irish small and medium-sized businesses. It has […]
KKR has hired Ken Murata from Goldman Sachs as a managing director in Tokyo. He will be focusing on both private and liquid credit in Japan and is expected to start sometime in September. First reported by Bloomberg, the hire comes as many large alternative asset managers have sought to seize the growth opportunity in […]
Wealth Club’s private markets investment platform has reached £30m in assets less than a year after its launch. The non-advisory investment platform launched its private markets offering last November. Since then, it has offered its clients access to 13 private markets funds, including from the likes of Ares, Aberdeen, Apollo and Oaktree. It is also […]
For insurers seeking investments in private credit, business development companies (BDCs) present “distinct advantages”, including a straightforward balance sheet treatment as equities, immediate diversification, and 100 per cent liquidity. The argument is made in a study published by US-headquartered firm Muzinich & Co., which looked at how insurers can potentially boost income and reduce correlation […]
Global investment firm Barings has reportedly registered its second European middle-market collateral loan obligation (CLO) with Irish regulatory authorities. The asset manager registered the financing facility on 28 July, according to Bloomberg, after successfully pricing its first ever European private credit CLO last November. Barings declined to comment when contacted by Alternative Credit Investor. Read […]
The credit arm of private equity firm CVC has priced Cordatus XXXVI, a new €400m (£348.1m) collateralised loan obligation (CLO). The vehicle has a four-and-a-half-year reinvestment period and a one-and-a-half-year non-call structure, with more than 65 per cent of assets already sourced. Natixis served as the lead arranger. The successful pricing of Cordatus XXXVI follows […]
Bahrain’s sovereign wealth fund, Mumtalakat, has bought a stake in alternative asset manager BlueFive Capital. The firm predominantly focuses on private equity, real assets and credit strategies, according to its website. BlueFive Capital has a flagship office in Manama and operates across key global centres including London, Abu Dhabi and Beijing. It was founded by […]
Fignum, a lending technology platform, has appointed Steve Carruthers as growth director. Carruthers joins from Finova, where he was business development director for mortgages, focussed on growing the firm’s mortgage sales and origination platform. Read more: Somo joins Finova’s lending panel Founded in 2019 as a spin-off from the Bluestone Group, Fignum provides loan origination […]
Global direct lending AUM has surged past $1.5tn (£1.1tn) as firms rapidly scale to meet the demand for private capital. Supporting this rapid expansion is a corresponding push towards technology modernisation. But amidst conversations and investments in deal sourcing platforms, portfolio monitoring systems, and AI-powered capabilities, there’s a glaring omission in the conversation – leverage […]
Fund managers and institutional allocators are making a “decisive move” into private credit, according to Bob Fraser, chief economist at alternative investment firm Aspen Funds. He told Alternative Credit Investor that he is seeing capital “flowing to strategies that align with macro trends and offer real-world durability.” Read more: JP Morgan: Variation in private credit […]
PGIM has closed its PGIM Senior Loan Opportunities II fund, the second commingled private credit fund available to unaffiliated investors in its middle market direct lending series, with over $4.2bn (£3.2bn) in available capital commitments. This makes the fund one of the largest middle market direct lending private credit fundraises year to date, PGIM said […]
Goldman Sachs Alternatives’ evergreen European private credit strategy (GSEC) has raised more than $6bn (around £4.5bn) of total assets since it launched in October 2023. The business said this week that to date, subscriptions into the fund have been raised from a diverse investor base including third party distributors, family offices, private wealth clients, sophisticated […]
Variation in the performance of private credit managers is set to increase, according to JP Morgan Private Bank. In a new report, the business said that while historically the outcomes in private credit have been “extremely tight”, the current landscape means this is set to change. Read more: Hybrid fund models attracting ‘growing interest’ from […]
Hybrid fund models are attracting increased interest from managers, according to Michael Von Bevern, co-managing director of the Americas at Suntera Fund Services. Von Bevern (pictured) told Alternative Credit Investor that the rapidly evolving private credit landscape is leading to managers seeking new structures to help them balance transparency with flexibility. “The private credit landscape is […]
Ascot Group and Antares Capital have announced a strategic partnership to launch a reinsurance sidecar, Wayfare Reinsurance. Wayfare, which will be based in Bermuda, will be capitalised through equity investments from Antares and Ascot at a transaction size of roughly $500m (£379m). Read more: Ares Capital hails ‘solid’ Q2 despite lower earnings As part of […]