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

Churchill raises $12 billion for senior lending strategy
The total includes closes of Churchill's levered, unlevered funds and separately managed accounts

"Extreme volatility can push BSL yields close to mid market levels, although that trade never lasts"
The two segments of the loan market are on different paths as mid-market volumes rise

CFOs stage comeback as fundraising tool for managers
Collateralised fund obligations are coming back into fashion, with Churchill Asset Management the latest firm to launch such an offering after announcing a $700 million deal last month.

US private credit has boomed amid BSL market shutdown, conference hears
US direct lending flourished over the last quarter with the asset class providing capital solutions and experiencing strong deployment, as volatility caused the large liquid loan market to shut down, according to panellists at Creditflux and Debtwire’s US Private Credit Forum on Tuesday

Churchill raises $700 million CFO after targeting insurance company investors
Churchill Asset Management has raised $700 million for a collateralised fund obligation that will straddle its private credit and private equity business

We’ll get through this awkward patch
Wide liabilities have made pricing CLOs trickier in the past few months. But speakers at Creditflux’s CLO Symposium were optimistic that the arbitrage is OK — so long as you can place those triple As

"ESG should not be viewed as a set of principles being imposed on investors — it’s a natural evolution"
It’s not easy for fund managers to assess the most green option  

CLOs at a glance (May 2022)
A listing of CLOs that have priced in the last month
   

Churchill hires Antares official to lead new Los Angeles office
Churchill Asset Management has hired a managing director in origination, responsible for leading the new Los Angeles office

Mid market CLO sales explode with BlackRock, Churchill and Monroe printing deals
Middle market CLO sales flared on Friday, with managers pricing three deals worth a combined $1.2 billion

"Strong growth is not necessary for good loan or bond performance, but it keeps a recession at bay"
The picture in credit was looking good (even with inflation rising) until Russia invaded Ukraine

Churchill appoints CLO management head amid string of senior promotions
Churchill Asset Management has made a string of senior promotions including naming Kelli Marti as senior managing director and head of CLO management

Churchill names Wells Fargo official to newly created head of fund finance role
Churchill Asset Management has created the new role of head of fund finance to help it utilise leverage strategically across its fund strategies

"‘B-level’ assets could struggle to find optimal valuations"
Acquisitions are increasing and companies focused on health and technology could benefit

"Some observers believe Europe’s opportunity in private debt lies at the lower end of the middle market"
European private debt has lagged its counterpart in the US. But a growth spurt may not be far off

Panagram takes on 'structure advisor' role for mid market CLO as two deals price
Panagram Structured Asset Management has taken an advisor role for a BlackRock mid market CLO - one of two mid market deals Natixis arranged this week, with another for Nuveen Asset Management

Everyone’s ramping

"Never have the choices for issuers been more varied, nor the market dynamics more complex"
Direct lending deal terms are becoming more attractive in Europe

US CLO pipeline: 33 new issues enter market with historic CLO records on the verge of shattering
The US CLO market is running as hot as it has all year with a whopping 33 managers marketing new issues CLOs, according to market sources

"It’s not unusual for investors to toggle between the US and Europe depending on pricing and terms"
The accents may be different, but US and European direct lending markets have a lot in common

"Having multiple sources of data for investors is particularly helpful in opaque markets like private debt"
Our columnist looks at the new Lincoln International Senior Debt Index and finds total returns of 154.3 since 2014  

Adams Street taps former Churchill official as private credit partner
Adams Street Partners has added a partner to its private credit team

LP round up: $3.2 billion flows to 21 managers as private credit illiquidity premium holds firm
Investors allocated at least $3.2 billion to credit managers in April - and direct lending funds were in favour with Churchill and Ares being awarded two mandates

"Three CLOs issued in 2021 have included triple C baskets of 20%"
Big triple C buckets helped mid market CLO issuers in 2020 and the trend is for even bigger allowances this year