US loan volume nears record levels
In Q1 2024 quarterly institutional loan issuance reached its second highest level on record. The period also saw the lowest quarterly share of new money issuance, at just 13% of total activity

Fund performance
In February, CLO funds once again claimed the majority of top positions in our fund ranking — this time taking eight of the top 10 spots (see table below).

Texas pension system commits USD 100m to direct lending
The Texas County & District Retirement System recently allocated USD 100m to a direct lending fund at its 1 April meeting

BlackRock reshuffles European fixed income group leadership
BlackRock is rearranging its European fundamental fixed income group with a new senior-level promotion, as veteran Michael Krautzberger plans his departure

Chicago pension system allocates USD 40m to private credit
The Policemen's Annuity and Benefit Fund of Chicago approved two commitments to private credit totaling USD 40m at its 24 January meeting

Barings shrugs off team liftout with new private credit deal
Barings is putting up a fight in the private credit market despite the dramatic loss of 20 members, acting as lead agent on a new private credit deal

Apollo launches new BDC backed by Mubadala
Apollo has created a new private BDC that will invest money from Abu Dhabi-based sovereign wealth fund Mubadala Investment Company, in addition to other institutional investors.

APAC investors target private credit opportunities in Australia after quitting China
While Asia continues to play catch-up in global private credit, Australia and New Zealand are leading the charge in Asia Pacific — for both lenders and borrowers.

Direct lender and CLO manager expands into Japan
The US private credit and direct lending specialist has opened its first Japanese office, and hired a new senior VP to oversee the office

Funds round-up: Feb-2024 - managers turn to European wealth
European private credit managers turn to the wealthy in our roundup of notable fundraising in February 2024. 

Tikehau teams up with Singapore-based UOB-Kay Hian for Asian private credit fund
Paris-headquartered Tikehau Capital is the latest player to reveal plans to strengthen its footprint in the fast-growing Asian private credit market by way of a partnership with Singapore-based brokerage firm UOB-Kay Hian

Goldman Sachs and Mubadala strike USD 1bn private credit partnership
Goldman Sachs and Abu Dhabi-based sovereign wealth fund Mubadala Investment Company have struck a USD 1bn deal to co-invest in private credit opportunities throughout the APAC region

Wave of legal hires becomes a tsunami
In February alone legal heavyweights Allen & Overy, DLA Piper, Fried Frank, Kirkland & Ellis, Proskauer Rose and White & Case all announced the arrival of partners in the credit space

Fund performance: CLO funds dominate top 10, but long-short and Ucits funds find places too
CLO funds made sure to end the year their way: once again they claimed most of the top performance spots. Six of the 10 best-performing funds in December have a majority of their assets invested in CLOs.

Golub secures USD 40m for credit fund from Texas-based pension system
Golub Capital continues to grow its direct lending platform with new commitments, with the New York-headquartered middle-market giant securing a commitment of USD 40m from the pension fund for its GEMS Fund 6

Blackstone sets sights on USD 10bn for opportunistic private credit fund
Blackstone will soon introduce the latest version of its opportunistic private credit fund, aiming to raise USD 10bn, Michael Chae, the firm's chief financial officer, told analysts 

LBC names new deputy chief investment officer
LBC Credit Partners, a division of CIFC Asset Management, has promoted Homyar Choksi to deputy chief investment officer, as the Philadelphia-headquartered middle market asset manager continues to expand

Oaktree picks Morgan Stanley managing director for credit team
Oaktree Capital Management has hired Morgan Stanley's Loris Nazarian as managing director and assistant portfolio manager

San Francisco retirement system puts another USD 100m into private credit
The San Francisco City & County Employees' Retirement System recently disclosed another round of alternative investment commitments, this time totaling USD 365m, including USD 100m for the pension system's private credit portfolio

Full-year 2023 European Leveraged Highlights
Debtwire has released the full-year 2023 European Leveraged Highlights, containing key trends in the leveraged loan and high-yield bond markets

End on a high: institutional loan and HY bond issuance rises 44% YoY
Leveraged finance (LevFin) issuance across the US institutional loan and high-yield (HY) bond markets totalled USD 529bn in 2023, representing a 44% year-on-year (YoY) increase

Managers advise caution despite upbeat outlook for private credit
The golden age of private credit isn’t over yet. In fact, industry experts remain bullish, anticipating continued growth in our breakdown of recent outlooks for the market

Private credit hit by growing pains as agreements get longer and execution slows
The rapid rise in private credit continues to stir up excitement among borrowers. But, despite the sector’s competitive advantages — such as speed of execution and light regulation — deals are taking longer to close as the industry expands.

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.

AustralianSuper increases private credit allocation as it seeks to triple exposure to the market
AustralianSuper has increased its investment mandate with private credit specialist Churchill Asset Management to USD 1.5bn, as Australia's largest pension system looks to triple its exposure in the fast-growing international private credit market