Investor sentiment toward private credit funds is souring as the first US Federal Reserve rate cuts in years begin to squeeze payouts and test the resilience of the once high-flying asset class, according to data analysed by Bloomberg.
Apollo Global Management and The Vistria Group scored a solid market debut for their education investment as University of Phoenix owner Phoenix Education Partners surged 18.8% on its first day of NYSE trading, valuing the company at around $1.35bn, according to a report by Reuters.
Permira, an €80bn global investment firm operating across private equity and private credit, has appointed Caitlin Brodie as a Managing Director in its US Capital Formation team in the firm’s office in New York.
Software-focussed private investment firm Thoma Bravo has closed a $5.5bn leveraged loan to support its pending acquisition of HR software provider Dayforce Inc, following robust investor interest, according to a report by Bloomberg.
Blackstone has appointed Deutsche Bank veteran Apurva Shah to a senior role in its private credit and insurance business in India, marking the firm’s first dedicated hire for credit in the country, according to a report by Bloomberg.
Apollo Global Management is targeting Spain for private market investments in energy transition, data centres, and infrastructure, according to a report by Bloomberg citing Konstantin Sajonia-Coburgo, the firm’s senior advisor for Iberia.
Golub Capital is committing at least $1bn of its own capital to a new platform designed to invest in private equity continuation vehicles, marking a significant strategic expansion into the fast-growing GP-led secondaries market.
Alliance Laundry Systems made a strong debut on the New York Stock Exchange on Thursday, closing its first day of trading up 11.4% giving the company a market valuation of roughly $4.8bn and marking a successful partial exit for PE firm BDT Capital Partners, according to a report by Reuters.
Turnspire Capital Partners portfolio company Infinity Engineered Products has acquired Meklas Otomotiv, a European manufacturer of air springs founded in 1986 which primarily serves aftermarket customers for commercial vehicle applications.
The Texas Municipal Retirement System is set to commit up to $15bn over the next five years to a programme that will allow the $44bn pension fund to co-invest directly in private market transactions alongside its external fund managers, according to a report by Bloomberg.
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