Fund Managers

17Capital closes NAV lending fund with $7.5bn

The firm said its second NAV loan fund is set to benefit from increased demand from private equity firms seeking flexibility.

Arizona state pension cuts projected returns out of private credit

Even while maintaining allocation targets for the asset class, the $63bn system is lowering its assumed return to reflect a more competitive environment for credit funds

Davidson Kempner: Opportunistic credit could benefit from ‘capital structure reset’

Stress in private equity funds and portfolio companies could open up opportunities for opportunistic credit managers, DK’s white paper argues.

BCRED issues CLO following redemptions, turbulence in NAV

The CLO issuance is routine but comes after a 0.4% decline in February, the BDC’s first monthly loss in three years.

Liquidity seekers might just need a different vehicle

While there appears to be investor support for greater convergence of public and private debt, fund structuring issues need to be resolved.

Arrow Global launches insurance business

The speciality insurance business will look to exploit opportunities in underserved markets requiring complex risk solutions.

Ares, Apollo cap semi-liquid redemptions at 5%, FS KKR downgraded

Apollo and Ares’ funds join a growing list of funds enforcing redemption limits, seeking to avoid downgrades.

Institutions are increasing private market allocations: Nuveen

Custom mandates and separate accounts are the most desired vehicles for new private credit exposure.

JPMorgan fuels fears of wider bank retreat

Private credit funds risk having fewer options for liquidity than before if other banks follow the Wall Street mainstay’s lead.

SMBC Private Markets hires Stride to lead EMEA market push

SMBC has appointed Louis Stride to lead its EMEA private markets capital formation business amid a wider strategic plan.