Business Development Companies (BDCs), investment vehicles originally aimed at retail buyers, are increasingly being used by institutional investors to access the $1.5tn private credit market, according to a report by Bloomberg. A number of managers including Oak Hill Advisors, Fidelity Investments, Jefferies Financial Group, and Churchill Asset Management, have all
Vista Equity Partners is looking to secure private credit backing for a multi-billion dollar refinancing of portfolio company Finastra Group Holdings, by offering to pump $1bn of preferred equity into the business, according to a report by Bloomberg.
BlackRock has completed its acquisition of private debt manager Kreos Capital, a provider of growth and venture debt financing to companies operating in the technology and healthcare industries.
Monroe Capital, a boutique asset management firm specialising in private credit markets across various strategies, has expanded its technology finance originations group with the addition of Jeff Kaye as Managing Director, based in Chicago.
Japan’s Norinchukin Bank, one of the biggest buyers in the $1.3tn global collateralised loan obligation (CLO) market, and NatWest Group, are among the big name institutions investing in private credit CLOs, according to a report by Bloomberg.
Thirty four new private credit funds raised a combined $71.2bn in capital commitments in the second quarter of the year, more than double the figure raised in the previous three months, according to a report by Bloomberg.
Third Eye Capital, a Canada-based provider of asset-based financing solutions to “underserved or overlooked” companies, has appointed David Steele as President and Chief Operating Officer, effective 15 August, 2023.
Private, employee-owned investment firm Neuberger Berman has held the final close of the NB Credit Opportunities Fund II with approximately $2.5bn in limited partner capital commitments, exceeding the fund’s initial target of $1.5bn.
Singapore sovereign wealth fund GIC is betting that tighter bank lending policies will see companies look to private credit to provide the capital they need and is shifting money to the sector as a result, according to a report by Bloomberg.
Angelo Gordon, a $73bn alternative investment firm focused on credit and real estate investing, has held the final close of the AG Asset Based Credit Fund with over $1bn of equity commitments, exceeding its $800m target.
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