LP round up: HPS wins $550m mandate as Ares launches third US direct lending fund
US institutional investors allocated nearly $3 billion to credit funds in April. The news comes amid a BlackRock survey in the month which showed significant investor interest in private credit

Ares targets high-net worth investors as it raises $1.5bn for non-traded BDC
Ares Management has raised $1.5 billion for a non-traded business development company known as Ares Strategic Income Fund

Virginia pension discloses $800 million in credit allocations
Virginia Retirement System has disclosed $800 million in credit fund allocations made over the first quarter of this year

Pressure starting to mount as CLO warehouses turn stale
In the US CLO market, deals have been marinating for a long time. That’s to say CLO warehouses – the traditional appetiser before a CLO is served – have been at the prep stage far longer than managers would have originally expected.

New CLOs from AGL and Ares amount to almost $900 million issuance
AGL Credit Management and Ares Management both priced a new CLO on Thursday, with the two transactions amounting to $882.75 million issuance

Ares targets $5 billion for second credit 'Pathfinder' strategy
Ares says it is finding relative value in FinCo loans, rescue financing, asset portfolios and residential mortgages and is monitoring opportunities in CLO tranches

Triple As heading back to 180s as tranches on new Ares US CLO go subject
The tranches on a forthcoming CLO from Ares Management named Ares CLO LXVIII went subject on Monday with triple A spreads set to head back into the 180s

Ares and Mubadala establish $1 billion global credit secondaries JV
The pair aim to capitalise on the 'anticipated growth and substantial demand’ from managers and investors for customised liquidity solutions

US CLO pipeline: issuers takes credit sell-off in their stride as supply picks up
Despite the collapse of Silicon Valley Bank and Signature Bank in the last week, the CLO machine has continued to churn with just shy of $5 billion of US and mid market CLO issuance this week

Calpers allocates $2.5 billion to two large private debt managers
Pension giant Calpers has revealed $2.5 billion allocations to two private debt managers

Ivy Hill climbs back into CLO market after Natixis plants mid-market deal
Ivy Hill Asset Management is back with its first middle-market US CLO in two years 

Beneath the triple C: Winter is coming for CLOs as downgrades outstrip upgrades
Both US and European issuers have felt downward pressure from the rating agencies as we head towards the end of the year, with downgrades to triple C now firmly outpacing upgrades out of it.

Ares senior official joins Vista to lead direct lending
Vista Credit Partners has appointed an experienced Ares official to lead its direct lending efforts

Calpers allocates $2.75 billion to two credit managers
US pension heavyweight California Public Employees Retirement System earmarked $3 billion to credit funds in the third quarter of 2022, according to recent board materials 

Ares prints new issue Euro CLO via BofA
Ares Management has priced a new issue European CLO, Ares European CLO XVI

Ares targets today for European CLO pricing
Ares Management is targeting today to price its new issue European CLO, Ares European CLO XVI

Ares markets first 2022 CLO in Europe
Ares Management is targeting Wednesday to price a new issue European CLO 

Ares prints new US CLO with 220bp senior triple A print
Ares Management priced a new CLO on Monday with a senior triple A spread of Sofr plus 220 basis points

Ares markets new $400 million CLO via Nomura
Ares Management is marketing a new CLO via Nomura, with pricing expected next week

US CLO pipeline: issuance expected to slow as blockages emerge
Only three new deals have been added this week to the list of forthcoming CLOs. The pipeline is suffering from some blockage after only four US CLOs priced last week 

Former Ares partner resurfaces at US multi-strategy asset manager
An experienced credit portfolio manager who worked at Ares and BlueBay has returned to the credit industry 

CLO managers find safety and return potential in IG
An investment grade bond might not seem the most suitable candidate for a CLO portfolio, but managers are increasingly going up the capital structure as they brace for a recession.

LP round up: $2.7bn flows to 20 credit managers as investors battle PE overallocation
Investors faced huge headwinds in September with inflation, rising interest rates, and geopolitical turmoil, alongside the UK gilts sell-off at month end

Identity of sellers emerges as CLO equity blocks change hands
Two majority equity positions have changed hands in the secondary market over the last two days, with details behind the cover price and sellers coming to light 

Three control CLO equity positions hit market with another to follow
Three anchor US CLO equity positions were listed on the secondary market yesterday in what was a busy day for investors