Blackstone Inc has tapped two seasoned credit professionals from Värde Partners and Jefferies Financial Group as part of its strategy to expand beyond corporate debt investments into asset-based finance and infrastructure, according to a report by Bloomberg News.
Citigroup Inc and Apollo Global Management Inc have announced a strategic partnership to target $25 billion in private credit transactions over the next five years, marking a significant expansion into the rapidly growing sector, according to a report by Bloomberg.
Despite global market challenges, assets under management in Luxembourg’s private debt market increased by 21% to €510bn from June 2023 to December 202, compounding on last year’s AuM growth of 51%, according to a survey by KPMG and the Association of the Luxembourg Fund Industry (ALFI).
Fund and corporate services administrator Aztec Group has appointed Todd Werner as US Head of Private Credit, with responsibility for developing and implementing strategy and expanding Aztec Group’s presence in the US market.
Dubai-based asset manager Ajeej Capital and venture capital firm Nuwa Capital have partnered to launch a $100m private debt fund aimed at providing debt capital to technology-focused companies across the MENAT region, with a particular focus on the GCC.
Blue Owl Capital Inc is leading a $3.2bn private debt financing to support the acquisition of Smartsheet Inc by Blackstone Inc and Vista Equity Partners for $8.4bn, with participation from 20 other lenders, according to a report by Bloomberg.
Apollo Global Management Inc has secured a $5bn commitment from BNP Paribas SA to boost its private credit lending operations, marking a significant step in the firm’s effort to expand in areas traditionally dominated by banks.
UK-listed Intermediate Capital Group has secured $1.9bn for the latest iteration of its North America-focused private debt strategy, the North American Credit Partners Fund III, which is 50% larger than its predecessor and has already made four investments, according to a report by CityWire.
The days of easy profits in private credit are waning as competition intensifies and defaults increase, according to a report by Bloomberg citing key industry players speaking at the Milken Institute Asia Summit on Thursday.
Global private investment firm KKR & Co’s capital markets division has spearheaded a $1.4bn private credit financing deal for USIC Holdings, a public utility provider owned by private equity firms Partners Group Holding AG and Kohlberg & Co, according to a report by Bloomberg.
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