Direct lending

Global trends are less of an issue in the traditional mid-market, say Churchill Asset Management’s Randy Schwimmer and Derek Fricke.

All the signs show that the tide is beginning to turn.

Teachers Retirement System plans to allocate as much as $1.2bn for distressed debt and direct lending.

The interval fund seeks to invest across the manager’s credit platform.

Slow M&A activity has increased competition among lenders for scarce deals.

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

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