PE Tech Report

Private Credit

EU set to approve stricter private credit rules

Stricter rules for private credit funds operating in Europe are set to be approved by the European Union this week in response to recent rapid growth in the sector and a subsequent uptick in concerns over potential risks to the stability of financial markets, according to a report by Bloomberg.

KKR leads financing for Clarience Technologies’ Safe Fleet acquisition

Global investment firm KKR has served as lead arranger, administrative agent, and investor on a debt financing for Clarience Technologies’ acquisition of Safe Fleet, a manufacturer of fleet safety solutions, investing in the transaction through its credit vehicles and accounts.

UBS promotes Head of Southeast Asian corporate book 

Multinational investment bank UBS Group has promoted Ben Sung to lead its corporate book in Southeast Asia in a move aimed at bolstering its private credit business in the region, according to a report by Bloomberg.

Private credit consolidation to continue, says Bain’s Lavine

Jonathan Lavine, Co-Managing Partner at Bain Capital, is predicting more M&A activity in the booming credit market space as smaller lending firms look to grow their businesses to benefit from economies of scale, according to a report by Bloomberg.

AlbaCore prices sixth CLO at €402.3m

European credit specialist AlbaCore Capital Group has priced AlbaCore Euro CLO VI, its sixth collateralised loan obligation, at €402.3m, growing the total values of the firms’ CLO issuance to date from €2.2bn to ~€2.6bn.

Dechert hires Partner in private credit expansion 

Global law firm Dechert has appointed Eliot L Relles as a Partner in its corporate and securities practice group as part of efforts to enhance its capabilities in leveraged finance and private credit. Relles will be based in the firm’s New York office.  

Blue Owl leads $2bn RLDatix private credit loan

Healthcare software specialist RLDatix is to refinance its existing debt facilities with a new $2bn-plus private credit loan led by Blue Owl Capital, with Ares Management and Golub Capital also significant participants in the deal, according to a report by Bloomberg.

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