Private credit’s very bad month started on March 2, when Blackstone Inc.’s BCRED revealed what was at the time its largest investor redemptions ever. It was bookended on April 2, when Blue Owl Capital Inc. said two of its funds faced massive withdrawal requests of 22% and 41%, forcing the firm to largely block the exits.
Morgan Stanley and JPMorgan Chase & Co. are leading the process, according to people familiar with the matter. A large majority of the financing is expected to be in the form of debt, with the rest equity, the people said, asking not to be identified discussing private information.
After years weighing how to dive deeper into private credit, JPMorgan Chase & Co.’s $4.3 trillion asset manager is committing to a strategy that will plow tens of billions of dollars into loans sourced by the firm’s commercial bankers.
Apollo Global Management Inc. is set to use a rare structure to raise $10 billion from insurers, people with knowledge of the matter said, in the latest illustration of the increasing ties between private capital and annuity providers.
Blackstone Inc. and State Street Investment Management are joining forces to launch an exchange-traded fund tracking European collateralized loan obligations, a move that comes as private markets seek to widen their investor base.
Advanced Credit Solutions is a tiny finance firm based in Luxembourg that was founded by a Belgian and works with insurers. Despite its outwardly bland appearance, the business it does is anything but.
Advent is working on an offer to acquire U-blox Holding AG in a deal that could value the Swiss maker of positioning chips at more than 1 billion Swiss francs ($1.2 billion), according to people familiar with the matter.
Goldman Sachs Group Inc. is expanding its private equity offering to wealthy individuals across Wall Street and beyond, in the latest sign of investment firms gradually broadening access to the much sought-after private markets.
At a finance conference in London this summer, four senior investment bankers set about persuading the room that the $1.7-trillion private credit market isn’t a threat to Wall Street. Barely three months later, two of them have jumped ship to seek their fortunes in the upstart asset class.
Amundi SA and First Eagle Investment Management are looking to raise as much as $5 billion for a new private credit strategy that will offer wealthy individuals in Europe, the Middle East and Asia access to private loans made to mid-size US companies.
Colm Kelleher whipped up a storm at the end of last year when the UBS Group AG chairman warned of a dangerous bubble in private credit.
Investors seeking liquidity are set to exit their stakes in private credit funds at a record pace this year, according to JPMorgan Asset Management.
Two former Goldman Sachs Group Inc. bankers want to take the $1.6 trillion private credit revolution from Wall Street to Main Street.
They’re the gilded class of high finance, whose shrewd bets and jumbo-sized paydays are the envy of Wall Street.
