North America

Nassau and Golub form new strategic alliance

Partnership exemplifies recent trend of insurance and private debt firms converging to form synergies.

Regulators look out for trouble

In both the US and Europe, regulators are taking a keen interest in private debt, write McDermott Will & Emery’s Aymen Mahmoud, Riley Orloff and Matthias Weissinger. But do regulators have a distorted view of the asset class’s risks?

Regulation: Finding fair value

Evolving regulations mean it’s more important than ever to get a grip on portfolio valuations, writes VRC’s John Czapla.

Aflac unit buys 40% stake in direct lender Tree Line

Tree Line’s ‘underwriting discipline’ attracted the insurance giant in its pursuit of exposure to mid-market direct lending.

Ares raises over $17bn in Q1, with more than $14bn in the credit group

LA-based manager has a record amount of available capital, but sees dip in fundraising from Q4 2023.

Carlyle Q1 results: Strong fee-related earnings and CLO activity

CFO John Redett says CLOs business ‘has great margins’ and CTAC has ‘strong inflow’.

Ratings agencies see shadows over mid-market credit in 2024

S&P Global Ratings and Fitch Ratings agree issuers are showing the strain under high interest rates, and creditor funds will be tested.

How Morgan Stanley’s David Miller dealt with stress

David Miller, Morgan Stanley’s global head of private credit and equity, knows a thing or two about managing a big portfolio, particularly during times of stress.

Rates and risk impact private credit valuations

Are there systemic and valuation risks in the private credit market? VRC’s John Czapla investigates.