Fund Managers

Neuberger Berman launches its first asset-based interval fund

NB Asset-Based Credit Fund is focused on receivables lending, consumer, small business and real asset sectors

PIK, the quick fix that stirs controversy

Seen by some as a useful liquidity tool and by others as a disguiser of stress, payment-in-kind has become one of today’s big talking points.

Tacoma pension hunts for manager outside direct lending

A Washington pension is turning its attention to asset-backed lending, real estate debt and other strategies as it bolsters new private credit programme in $2.3bn portfolio.

Asset-backed finance, the ‘quiet giant’

Leading investors discussed emerging areas of private debt, the rise of data centres and concerns over PIK in a Private Debt Investor Network webinar.

Inside Phoenix’s £3bn private debt drive

Head of private markets Cecile Retaureau explains how the UK life and pensions firm is building its exposure to infrastructure finance. It is also adding to its private credit team.

Deployment: the next fundraising differentiator

Why the ability to deploy capital quickly is becoming key to a manager’s ability to tee up their next fund.

Sound Point achieves $1.1bn first close on Strategic Capital Fund III

The fund manager sees opportunities in a lending space still dominated by banks.

Carlyle Global Credit posts record fee-related earnings as it expands ABF, insurance

Global Credit represents 43% of the company’s $465bn in AUM, helped by diversification beyond direct lending

17Capital on its $5.5bn fundraise: NAV lending growing with ‘adoption from the big names’

NAV loans are generally helping performing buyout funds, rather than those struggling with distributions, says partner Dane Graham.

Apollo’s credit unit drives record quarterly inflows and fee earnings

IG credit and ABF, as well as CLO management, part of the unit that represents 82% of AUM, contribute to the results.