Bain and Pantheon form $320 million private credit JV to invest in Europe and Australia
Bain Capital Specialty Finance, a publicly traded business development managed by Bain, has formed a joint venture with Pantheon’s private credit business to invest across Europe and Australia

Tikehau launches ESG private debt fund with interest rate ratchets
The European Investment Fund has backed Tikehau's private debt fund, Tikehau Impact Lending, which provides lower interest rates to companies that meet their sustainability goals

Bain preps follow-up to 2015 global direct lending fund
Bain Capital has launched its latest direct lending strategy, Bain Capital Global Direct Lending 2021

‍Saudi Arabia's PIF becomes latest sovereign wealth fund to target direct lending
‍Saudi Arabia’s Public Investment Fund has become the latest sovereign wealth fund to enter the direct lending space, anchoring a Shariah compliant private credit fund managed by NBK Capital Partners

BlackRock scores biggest mid market CLO since 2018
BlackRock has teamed up with Barclays to print a second CLO backed by loans to middle market companies following its buyout of Tennenbaum Capital Partners in 2018

US private credit default rate drops to 3.6% in Q4: Proskauer
US private credit default rates dropped to 3.6% in the fourth quarter, according to law firm Prokskauer’s Private Credit Default Index

Lombard Odier hires Avenue duo for sustainable private credit strategies
Lombard Odier Investment Managers has made two hires from Avenue Capital Group to develop a range of sustainable private credit strategies in the US

Carlyle holds first close on opportunistic credit fund amid 2020 'record fundraising'
Carlyle Group has held an initial closing on its second opportunistic credit fund amid a record credit fundraising year for the firm

Apollo credit assets rocket 50% with anticipated fundraising hike after Black investigation
Apollo Global Management's credit assets rocketed 52% over 2020 to $329 billion - and the firm predicts third-party fundraising to “build significantly” in the first quarter, following the conclusion of Dechert's investigation into chief executive officer Leon Black

Credit manager prices second tech-focused CLO after 2.5-year break
Vista Credit Opportunities has priced its second ever CLO backed by loans to middle market companies in the technology sector

MidCap prints largest CLO transaction for 12 months with $1.2 billion reset
MidCap, the middle market affiliate of Apollo, has priced the largest CLO primary transaction in almost exactly 12 months, printing a reset of its huge $1.2 billion mid market CLO named Woodmont 2017-2

European CLO head becomes latest PM to leave asset manager after announcing retirement
A large European credit manager has had a number of departures across its CLO and direct lending businesses in recent weeks

A year that looked like it would be a total wipe-out ended up being very constructive indeed
Our columnist looks back at some of the surprises of 2020

M&G lays out ESG focus with £5 billion pledge to 'sustainable private assets'
M&G is allocating £5 billion ($6.8 billion) from its £136 billion with-profits fund into businesses using a model which places emphasis on ESG, sustainability and impact investing

Direct lenders say coronavirus storm enables them to show benefits of bespoke lending
European credit managers are bracing themselves for setbacks after a new set of lockdown and curfew measures kicked off 2021 on the continent

Brexit trade deal bolsters private debt deal-making
The long-awaited Brexit UK-EU trade deal struck on 24 December has provided private equity sponsors with a level of certainty, say market participants, even though a financial services deal is still to come

Credit funds at a glance (February 2021)
A round-up of fundraising and people moves

Fund performance: CLO funds keep up momentum as Napier Park finishes top
2020 ended with funds in our CLOs category taking the top few spots

Ucits at a glance: Advent ends calendar year on top
Ucits ended 2020 on the rise as 89% of funds achieved positive returns in December

Credit hedge funds (February 2021)
Monthly credit hedge fund tables

Search firm highlights lack of diversity across Euro credit
A report on diversity within the corporate credit industry has shed light on the imbalances that persist

New York life sciences specialist hires three and launches credit opportunities fund
A life sciences boutique has launched a credit opportunities strategy and has hired three officials to lead the charge.

Credit fundraising: January proves anything but dry for manager inflows
After a tough and unpredictable year, January may have been seen by many as an opportunity for a fresh start. But for seven managers it meant holding final closes on funds, while three undertook first closes and one a fund launch

Manager beats "more than 30" to partner with Zurich Invest for European direct lending
A UK-based fund manager has beaten off competition to land a partnership with Zurich Invest

Crescent bolsters Nordic direct lending presence with hire
Crescent Capital has appointed a former Nykredit official as a director in the firm’s European direct lending focused on Nordic transactions