Citigroup is the latest bank targeting a slice of the booming $1.6tn private credit market with plans to launch a new direct-lending strategy in the first few weeks of next year, according to a report by Bloomberg.
Pathlight Capital, a $2.7bn private credit firm that provides asset-based loans secured on a first or second lien basis against tangible and intangible assets, has appointed Laura Hegarty as Managing Director, Investor Relations.
Private credit majors including Ares Management Corp and Blackstone Inc are currently deploying over half of the sector’s capital, according to a report by Bloomberg citing new research by AIMA associate the Alternative Credit Council.
Manulife Investment Management, the global wealth and asset management operation of Canada’s Manulife Financial Corporation, is to boost its footprint in the private credit space with the acquisition of London-based, multi-sector alternative credit manager CQS.
TOP STORY: Blackstone is in the final stages of borrowing around $400m through collateralised loan obligations to boost the lending power of its $52bn flagship private credit fund, according to a report by The Financial Times.
Global investment manager, First Sentier Investors has competed its acquisition of a majority stake in boutique European alternative credit manager AlbaCore Capital Group (AlbaCore), having received all relevant regulatory approvals for the deal.
Brinley Partners, an asset management firm focused on secured and unsecured credit, and preferred equity investments across various industries, is targeting a fundraise of at least $1bn for its second private credit fund, according to a report by Bloomberg.
Barings is targeting a AUD1.4bn ($893m) fundraise for a planned Australian private credit fund, which is aiming to provide borrowers with an alternative source of funding to banks and the bond market, according to a report by Bloomberg.
Kayne Anderson Private Credit, a middle-market direct lending platform with $5bn in assets, has sold a passive minority stake in itself to Bonaccord Capital Partners, a subsidiary of asset manager P10 Inc, according to a report by Bloomberg.
Versana, a digital data and technology company focused on the syndicated loan and private credit markets, has appointed industry veterans Christine Scaffidi and Christopher Fonte as Head of Product and Head of Sales, respectively.
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