North America

US Supreme Court: Defendants have right to jury trial for securities fraud allegations

Case involving hedge funds lending to start-ups represents a blow to the SEC.

Orix USA realigns private credit, brings on BlackRock’s Singhal

Manager splits the asset class into two verticals, with Singhal heading direct lending and Shtaingos leading securitised credit.

Both BlackRock and Fitch view the credit macro scene warily

No big ‘easing cycle’ expected; keep an eye on upcoming waves of maturities, reports say.

Leste Group pushes further into real estate credit with LNL Capital

In less than a year, the net lease mortgage REIT is on track to originate $1bn on an annualised basis.

MidOcean Partners raises $765m for opportunistic credit fund

Fund targets off-the-run, mid-sized direct lending, stressed and distressed investments in third vintage.

What the Fifth Circuit ignored in its ruling

The decision on the SEC’s private fund rules was made for the right reason. There was also a troublesome ‘wrong reason’ in the mix, but the court ignored it.

StepStone Private Credit Income Fund launches

Quarterly redemptions on the interval fund are limited to 5% of NAV, with minimum investments of $25,000.

Why Middle Eastern LPs are looking to the US 

Both sovereign wealth funds and Middle Eastern family offices are seeking opportunities in US private debt.

Canyon closes two CLOs to raise over $1bn

Canyon Euro CLO 2023-1 is the sixth-largest European deal ever, and the largest in more than six years.