Emerging alternative investment managers are prioritising the acquisition of top talent, and investments in third-party data providers and technology platforms as they look to grow their businesses in 2023, according to a new report by alternative investments fintech Dynamo Software.
PGIM, the $1.2 trillion global investment management business of Prudential Financial, is to acquire a majority interest in Deerpath Capital Management, a US private credit and direct lending manager focused primarily on financing private equity sponsor-backed companies in the lower middle market.
Castlelake, a global alternative investment manager specialising in asset-based private credit, has appointed Evan Carruthers, chief investment officer, to the additional role of co-chief executive officer alongside Rory O’Neill, who has assumed the title of executive chair and co-chief executive officer.
Software and technology focused private investment firm Vista Equity Partners, has entered into discussions with private credit funds over a $6 billion deal to refinance the debt of portfolio company Finastra Group Holdings Ltd, according to a report by Mergers & Acquisitions.
Blackstone is aiming to raise $10 billion for the first vintage of its new direct lending fund, which launched in the first quarter of the year and will be marketed to both institutional and insurance clients, according to a report by BuyoutsInsider.
More than 70% of investors intend to increase their allocations to private equity this year, though it remains to be seen if recent upheavals have changed that outlook, according to BlackRock Alternatives’ inaugural Global Private Markets Survey.
Mayer Brown has appointed Jason Friedman as a partner in the firm’s Banking & Finance practice, where he will represent borrowers, private equity sponsors, banks, hedge funds, alternative asset managers and other institutional investors on leveraged finance and private credit transactions.
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