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Era of private credit outperformance over PE may be ending, says State Street

Private Equity Wire

The report cites Nan Zhang, head of product implementation and alternative investment research at State Street, as noting that “private debt, especially floating-rate debt, typically benefits from rising interest rates,” and expects that private debt’s outperformance might diminish as the Fed continues with rate cuts.

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FCERA commits additional $140m to alternatives

Private Equity Wire

The Fresno County Employees’ Retirement Association (FCERA) has approved $140m in new commitments to alternative investment funds during the fourth quarter of 2024, according to a report by Pension & Investments Online citing a letter from retirement investment officer Conor Hinds.

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PE rethinks NAV loans as investors push back

Private Equity Wire

Buyout firms have long relied on controversial loans backed by equity stakes to enhance fund returns, but growing investor criticism has triggered a slowdown, according to a report by Bloomberg UK. This shift partly reflects a rebalancing of power, enabling LPs in private equity funds, such as pension funds to exert influence over GPs.

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KKR to Acquire Varsity Brands from Bain Capital for $4.75bn

Private Equity Insights

maker of sports uniforms and school yearbooks, from buyout firm Bain Capital for about $4.75 billion, including debt, people familiar with the matter said on Wednesday. KKR will own Varsity Brands through its Americas private equity fund, the sources said, requesting anonymity because the deal has not yet been announced.

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Ares Raises $1.7 Billion for Australia Private Credit Fund

Private Equity Insights

billion) for a credit fund for Australia and New Zealand, as it seeks to capitalize on opportunities created by banks retreating from leveraged lending. The Ares Asia Direct Lending fund, the company’s first leveraged buyout vehicle for the region, has deployed over A$1.04 billion) for a credit fund for Australia and.

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Clearlake and Insight close to $2bn private credit deal for Alteryx LBO

Private Equity Insights

Billion for Australia Private Credit Fund Ares Management Corp. billion) for a credit fund for Australia and. read more Dutch Pension Fund Divests $3B from Fossil Fuel Firms Dutch pension fund PFZW has completed a $3.02 Read more Ares Raises $1.7 has raised A$2.6 billion ($1.7 billion (EUR 2.8

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NY State Common Retirement Fund commits $4.6bn across PE, credit, secondaries and RE

AltAssets

US pension fund giant the New York State Common Retirement Fund has agreed a hefty $4.6bn of new alternatives fund commitments. The post NY State Common Retirement Fund commits $4.6bn across PE, credit, secondaries and RE appeared first on AltAssets Private Equity News.