A consortium of private credit investors, including Antares Capital, KKR, BlackRock, and Carlyle Group, is preparing to convert debt into equity at 48Forty Solutions, roughly a year after backing Summit Partners’ $1.75bn acquisition of the pallet company, according to a report by Bloomberg citing unnamed sources familiar with the matter.
Private equity firms are increasingly tapping the high-yield bond market to extract cash from portfolio companies in order to fund payouts to themselves and their investors, according to a report by Bloomberg.
The private credit sector is braced for a shake-out as increased volatility and rising default rates begin to expose differences among lenders, according to a report by Bloomberg citing the co-chief executives at Fortress Investment Group.
Blue Owl Capital is considering revisiting a proposed merger between its publicly traded Blue Owl Capital Corporation (OBDC), and its privately held sibling, Blue Owl Capital Corporation II, contingent on an improvement in OBDC’s share price so that the fund is not trading at a discount to its net asset
Jefferies Financial Group has appointed Sanjeev Aggarwal, formerly head of leveraged and structured finance at Mizuho Financial Group in India, to lead its private credit advisory business in the country, according to a report by Bloomberg.
Ascertis Credit has raised $520m at the first close of its Asia-focussed private credit fund. The firm is targeting a $1bn final close for the vehicle which has attracted interest from institutional investors, family offices, and HNWIs.
Blue Owl has called off its planned merger of two private credit funds following investor concerns over proposed withdrawal restrictions, according to Reuters. The reversal comes as the alternative asset manager faces heightened scrutiny in a volatile credit market.
Wall Street banks are turning to private-credit channels to raise roughly $1bn in financing for Novacap Investments Inc’s acquisition of Integral Ad Science Holding Corp, after attempts to secure funding from leveraged loan investors faltered.
KKR & Co is aiming to wrap up its second Asia-focussed private credit fund in December, with a target size of around $2bn, according to a report by Bloomberg citing people familiar with the matter.
Blue Owl Capital has seen its shares drop to their lowest level since December 2023 following the firm’s decision to restrict redemptions from one of its oldest private credit funds, according to a report by Bloomberg.
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