400 Capital Management (400CM), an alternative credit asset manager specialising in asset-based credit strategies with over $7.4bn of assets under management, has closed its latest private credit fund, Asset Based Term Fund IV, with $1.39bn in capital commitments.
Private credit lenders are in discussions to provide $4.5bn in debt financing for Sycamore Partners’ potential buyout of Walgreens Boots Alliance, as part of a plan to break up the pharmacy chain into separate business units, according to a report by Bloomberg.
Private credit professionals are seeing sharp increases in compensation in key financial hubs like New York and London, with the surge being driven by strong demand for expertise in asset-backed finance, a fast-growing segment within private credit, according to a report by Bloomberg.
The Los Angeles City Employees’ Retirement System has approved significant commitments totalling $367m to private credit and private equity funds, as outlined in the materials presented at its 25 February board meeting, according to a report by Pension & Investment Online.
PGIM Private Capital, the private credit arm of PGIM, the $1.38tn global asset management business of Prudential Financial, provided $14.9bn in senior debt and junior capital to 238 middle-market companies and projects worldwide in 2024.
Northleaf Capital Partners has successfully closed its third private credit fund, raising over $1bn in total capital commitments for Northleaf Private Credit III and related managed accounts, and taking the firm’s private credit platform to over $6.5bn.
SC Lowy Financial HK is aiming to raise $500m for its third private credit fund, capitalising on a financing gap left by Asia’s shrinking junk bond market and increasingly cautious banks, according to a report by Bloomberg.
Banks and private credit lenders are competing to provide up to €6.5bn ($6.8bn) in debt financing for Adevinta ASA, as its private equity backers, Blackstone and Permira, explore options to optimise the company’s capital structure, according to a report by Bloomberg.
JPMorgan Chase & Co is significantly scaling up its direct-lending business, allocating an additional $50bn to expand its presence in the fast-growing market, having already deployed $10bn across more than 100 deals since 2021, according to a report by Reuters.
Canadian alternative investment giant Brookfield Asset Management is aiming to raise at least $7bn for its fourth infrastructure debt fund, expanding one of the largest strategies in the sector, according to a report by Bloomberg.
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