Deals

Carlyle-affiliated Fortitude Re strikes reinsurance deal with Unum

The deal to transfer $3.8bn of long-term care policies to Fortitude will earn Carlyle recurring fees.

How Asia-Pacific’s character is changing

We noted key takeaways from this week’s Private Debt Investor APAC Forum in Singapore.

Collateral backing makes Asia-Pacific a solid bet

Attendees at the PDI APAC Forum heard about the security inherent in many deals in the region, challenging preconceptions around risk.

Light at the end of the tunnel for M&A

The new deal market has been hampered by negative internal and external factors, but there are signs they may be easing.

Private credit sharpens focus on climate’s missing middle

Recent moves by Lightrock, Nest and Galvanize offer signs that the private credit market is starting to bridge the climate financing gap, but there is still a long way to go.

Moodys shifts outlook of Blackstone, Golub public BDCs to negative

Both BDCs will retain their investment-grade ratings despite the pessimistic near-term outlook.

KBRA: A Medallia default would cause widespread, but not catastrophic effects

If the customer/employee management platform defaults, more than $5bn of equity value would be at risk of being erased, report says.

CPP Investments unloads European non-performing loan portfolio

Net proceeds near C$1bn to be redeployed as the market for NPL portfolios changes.

Apollo beats target on a hybrid fund with $6.5bn close

The strategy that sits between debt and equity is seeing increasing demand from investors.

Apollo holds $1.9bn final close for liquid credit fund

The manager’s deputy co-head of hybrid, Chris Lahoud, says the current moment is one of heightened volatility.