Despite often being criticised as “woke” and anti-capitalist in the US, ESG, one of Wall Street’s most controversial labels, is quietly finding a foothold in the growing private credit market, according to a report by Bloomberg.
Kennedy Lewis Investment Management, an alternative credit manager with around $16bn under management, has formed a strategic partnership with the California State Teachers’ Retirement System focused on senior corporate lending for non-sponsored borrowers.
Blue Owl Capital, a €162bn alternative asset manager know for its private credit, GP strategic capital and real estate platforms, has appointed Antonis Maggoutas as a managing director and Head of DACH for its Institutional Business Development team.
Blackstone has appointed Tyler Dickson, formerly Global Head of Investment Banking and Vice Chair of Banking & International at Citi, in a newly-created role leading client relations at Blackstone Credit & Insurance.
New York-based international law firm Cahill Gordon & Reindel has added Peter Williams as a Partner in the its office in New York, where he will serve as co-head of the firm’s private credit practice, effective 15 July.
Blackstone Group, the world’s largest buyout firm, has emerged as a major player in the acquisition of bank loans critical to the private equity industry, despite exposing itself to risks generated by its own operations in the process, according to a report by the Financial Times.
European private credit manager Pemberton Asset Management has held the first close of its new NAV strategic financing strategy at over $1bn of investible capital.
Marathon Asset Management, a global credit manager with $23bn in AUM, and Webster Financial Corporation, the holding company for $76bn commercial bank Webster Bank, are to launch a private credit joint venture, which will deliver direct lending solutions to sponsor-backed middle market companies.
The $1.7tn private lending industry is just beginning its expansion, and has the potential to grow to a $25tn market globally, according to Michael Zawadzki, Blackstone Credit and Insurance’s global chief investment officer.
Alternative investment fund manager Cheyne Capital Management has appointed Dan Magee as Managing Director, Head of Origination and Trading for Cheyne Strategic Value Credit.
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