Ares Management credit funds have led the backing of a merger of Suave Brands Company and Elida Beauty with $1.6bn in private debt financing, according to a report by Bloomberg. The two personal care businesses are backed by consumer-focused private equity firm Yellow Wood Partners.
Loparex has approached private credit investors to explore a refinancing of its existing debt, nearly two years after completing a distressed exchange, according to a report by Bloomberg citing people familiar with the matter.
The Bank of England has flagged the rapid growth of shadow banking as a potential threat to global financial stability, with Governor Andrew Bailey highlighting the “urgent need” to strengthen resilience in market-based finance, according to a report by The Times.
Ambienta SGR has raised more than €500m for its inaugural private credit fund focused on lending to environmentally sustainable mid-market companies in Europe, underscoring continued investor appetite for sustainability-led strategies, according to a report by Bloomberg.
Private equity firm Permira has officially launched the sale of German pharmaceutical company Neuraxpharm, with lenders preparing financing packages of up to €1.5bn ($1.8bn) for prospective buyers, according to a report by Bloomberg.
BlackRock has cut the net asset value of its listed private debt vehicle BlackRock TCP Capital Corp by around 19% after a series of underperforming loans weighed on results, highlighting continued pressure across the private credit market, according to a report by Bloomberg.
Franklin Templeton is folding its European private credit business Alcentra into its US platform Benefit Street Partners, consolidating its private credit operations under a single global brand, according to a report by Bloomberg. The combined business will operate as Benefit Street Partners and oversee around $86bn in assets.
Private credit managers are rolling out new fund structures aimed at accessing US retirement savings, as firms prepare for potential regulatory changes that could allow private assets to be included in 401(k) plans, according to a report by Bloomberg.
PGIM has expanded into private credit secondaries, with plans to deploy up to $1bn over the next two years into the emerging asset class. The new platform targets a market where deal volume is expected to exceed $50bn within the next two to three years.
Crescent Capital Group has raised $3.2bn for a continuation vehicle, marking the largest fundraise to date for a strategy focused on private credit secondaries, according to a report by Bloomberg. The fund will allow the manager to hold selected credit assets for longer amid a slower dealmaking environment.
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