Fund Managers

BlackRock’s HPS raises $6.6bn for junior capital fund

The fund is targeting $10 billion of investor capital, and focuses on customised junior debt financing

Moody’s: Structured finance becoming critical to origination of IG private credit

Alternative managers that sponsor structured finance JVs are using their minority stakes to bring investment grade debt to investors.

Apollo credit funds moving towards monthly NAV reports

Executive outlines an approach to investor jitters involving real-time marks and, beyond that, the use of third-party valuations/modeling.

Germany’s clarified framework for enforcement and recoveries

How the country’s updated auction rules are starting to shape intercreditor dynamics, enforcement strategies and loss-given-default assumptions in deals involving German collateral. By Dagmar Gold of Deutsche Pfandverwertung

Conflict of interest concern: Valuation of a loan by the borrower

Valuations of Blue Owl’s BDC’s portfolio provided by Kroll have raised concern given Kroll’s close connection to Deerfield, a borrower from those BDCs.

Eagle Point holds $559m final close on third ‘defensive income fund’

Eagle Point’s latest closed fund invests in the debt securities issued by BDCs, credit funds and mortgage REITs.

Non-listed BDC fundraising momentum slowing, redemption requests rising: Stanger

NAVs are also rising and redemption requests remain manageable, but challenging times may lie ahead.

BDC redemptions – déjà vu all over again

We’ve seen this movie before, but that was before private credit became a household term.

AlbaCore and MUFG team up for infrastructure debt platform

The deal will see the two firms work together with support and seed investment from Mitsubishi UFJ Trust Bank to provide two infrastructure credit strategies to global investors.

Investors pull $3.7bn from Blackstone evergreen

BCRED lifted its 5% redemption limit to 7% of assets.