Direct lending

TPG Twin Brook closes fifth direct lending fund with $3.9 bn in commitments

TPG says it has expanded its sponsor network and completed almost 200 transactions.

Ares sees record fundraising, strong commitments in second quarter

Nearly $20bn of Ares’ $26bn worth of commitments came from its credit business.

One LP’s concerns over systemic risk

In the latest Private Debt Investor Podcast, Raymond Wright of London CIV tells of his wariness around loans passing from regulated bank balance sheets to an unregulated market. But he has high hopes for the asset class in areas such as asset-based finance and secondaries.

CalSTRS invests $200m in Kennedy Lewis

The seed capital will support the manager’s non-traded, perpetual BDC, among other investments focused on the non-sponsored market.

Blue Owl to buy Atalaya, for $450m, by year’s end

Like its purchase of Prima in April, the transaction looks to expand Blue Owl’s footprint in private credit.

Oak Hill, One IM launch European private credit partnership

The partnership has $5bn in investable capital, and follows Oak Hill’s launch of a $1.5bn perpetual BDC.

Seventh consecutive quarter of growth: Golub index

Golub Capital’s Altman Index shows firm growth in the mid-market was led by healthcare, industrial and tech firms.