StepStone and Dubai's ASB Capital launch Shari'ah-compliant lending fund
The ASB StepStone Private Financing Fund will lend mainly to US middle-market companies and is being built as an open-ended, perpetual vehicle.
Published Oct 5, 12:20 PM ET
Barings names Sloan Sutta global head of its $60bn asset-based finance platform
Sutta joins from Crayhill Capital Management and reports to Martin Horne, with a remit to expand what the $60bn platform can underwrite.
Aviva Investors buys Adriana Infrastructure CLO, expanding its private debt platform
The FTSE 100 insurer's asset manager has held senior notes in the 2008-vintage vehicle since 2013 and now says further securitisation products, CLOs included, are coming.
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Apollo extends daily pricing to direct lending across $850bn credit book
Direct Lending · 4d ago
Liberty Mutual gets option to deploy $750m with Orion Infrastructure Capital
Allocators · 4d ago
The CloseColumn →
A $407.7m Golub CLO print and the collateral question behind it
Golub priced $407.7m through BNP Paribas while CVC, Trinitas and Guggenheim moved through the pipeline; the real test is what the vehicles hold.
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The Credit OpenMetrics Credit Partners suspends three ASX fund redemptions after KPMG valuation dispute
The Australian manager marked the vehicles down by as much as 12.16 per cent, and the coverage describes no borrower default behind the gate.
The Credit Open
Pemberton hires CLO head as Kartesia prices €459m and Värde hands off liquid fund
Kartesia's €459m debut clears at +129bp without arranger participation, four months after its loan-management launch.
The Credit Open
New York Life takes majority stake in $20bn Invictus as M&G prices €457m CLO
The deal brings Invictus's Verus Mortgage Capital loan-sourcing platform under New York Life; M&G's fifth Margay CLO prints at €457m after Ontario Teachers' July €200m commitment.
The Credit Week
Private credit's distribution war moves to the insurance shelf
BSP hired the coverage, Aegon built the wrapper, Enercon sold the pipeline. The three moves are one trade, and the firms building now are betting the anchor pool reprices later.
MovesThe full wire →
Movement coverage returns with the next weekday edition.
The Wire
Mar 31Onur Erzan — AllianceBernstein L.P. → AllianceBernstein L.P.
Mar 31Onur Erzan — AllianceBernstein → AllianceBernstein
Mar 30Seth Bernstein — AllianceBernstein L.P. → AllianceBernstein L.P.
Dec 31Zar Toolan — to Certified Financial Planner Board of Standards Inc.
Dec 31Drew McMorrow — to Certified Financial Planner Board of Standards Inc.
Dec 31Evelyn Zohlen — to Certified Financial Planner Board of Standards Inc.
Fund WatchAll Fund Watch →
Oaktree closes debut asset-backed finance fund at $2bn
The Brookfield-owned manager raised the money across ABF I and related vehicles, with US public pensions and sovereign wealth funds among the backers.
Metrics Credit Partners suspends redemptions after KPMG valuation dispute
The Australian manager, which runs around A$40bn, halted trading in three ASX-listed funds and marked them down by as much as 12.16 per cent.
Kartesia prices debut European BSL CLO at €459m, upsized from €400m
The AAA tranche cleared at +129bp without arranger participation, four months after Kartesia launched its loan management strategy.
Direct LendingAll Direct Lending →
LSTA reissues outbound-investment credit agreement guidance without naming pending Treasury amendments
The September 30 market advisory updates the May 4 exposure draft and offers model provisions for credit and pledge agreements, but the public summary stops short of identifying the two developments behind the expected changes.
Bank of England warns private credit vulnerable as financing conditions tighten
The FPC's September record flags elevated risk-taking and floating-rate debt-servicing pressure, with its private-market stress test still unpublished.
Pemberton hires Investcorp's Courtman to run its €1.6bn CLO platform
Courtman starts in January 2027 as managing director and head of the CLO group, while Rob Reynolds steps back from the role to pursue other opportunities.
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Direct Lending
Golub Capital invests $5m in AI credit developer F2
Direct Lending
M&G prices fifth Margay European CLO, upsized to €457m
Direct Lending