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Credit strategies accounted for about $152bn of the $257bn total capital raised by six major publicly-listed alternative-asset managers in Q3, highlighting a continued shift of investor focus toward lending and debt-based platforms, according to a report by Bloomberg.
Cybersecurity platform Optiv Inc, backed by KKR & Co, has initiated confidential negotiations with holders of its second-lien loans as it confronts a wave of maturing debt in 2026, according to a report by Bloomberg citing people familiar with the matter.
Neuberger Berman, a global, private, employee-owned investment manager, has closed its fund NB Private Debt V, raising $7.3bn inclusive of leverage, exceeding its original target. The Fund aims to invest in senior secured, first-lien and unitranche loans to US private equity-owned companies. Its investor base is comprised of a range of global institutions from North America, South America, Europe, the Middle East and Asia.
Chinese investor Centurium Capital, known for backing fast-growing coffee chain Luckin Coffee, is considering a proposal to acquire UK chain Costa Coffee from Coca‑Cola Co, according to a report by Bloomberg citing people familiar with the matter.
Private equity firm Warburg Pincus has opened its Tokyo office, located in the Marunouchi building in the heart of the city’s central business district. The firm has an over three-decade presence in Asia, alongside a long-standing partnership with Japanese corporates and investors.
TELEO Capital Management, LLC, a lower mid-market private equity firm specialising in acquiring corporate carve-outs and other complex transactions across enterprise software and tech-enabled services, has closed TELEO Capital Fund II at its hard cap of $350m in Limited Partner capital commitments.
European private equity investor Perwyn has entered an agreement to exit its majority holding in Lowe Rental to MML Keystone, realising a 5.3x multiple on invested capital. Perwyn will also be reinvesting in the company.
Equipped AI, a provider of loan management and portfolio intelligence software for private credit and alternative firms, has launched a strategic growth partnership with P Capital Partners, a Nordic private credit investor with €3.5bn in assets under management.
Duke Energy Corp and Xcel Energy Inc are in discussions with private credit lenders to finance portions of their long-term infrastructure investment programmes, in what could mark a significant shift for the US utilities sector, according to a report by Bloomberg citing executives from the firms.
IT services firm ManTech International Corp has launched a $2.3bn leveraged financing package — comprising a $2.15bn term loan B and a $150m delayed-draw facility — in a bid to refinance existing private credit debt, according to a report by Bloomberg citing an unnamed person familiar with the matter.
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