🔥The 9th Round of Easy Loan, Earn $40 Reward is in progress❗️ ⏰ Promotion Period: January 15th - Feburary 15th, 2025 👉 Register now and check more details at gate.io/campaigns/358

MetLife is pursuing an acquisition of private credit specialist Hayfin (Summer) Friday scoop with Davide Scigliuzzo ⬇️ $MET bloomberg.com/news/articles/…

Hayfin Capital Management, the private-credit specialist that began exploring a sale last year, has put those plans on ice in favor of a management buyout New w/ Davide Scigliuzzo ⬇️ bloomberg.com/news/articles/…

Fintech conglomerate ION Group had total debt equal to 10 times earnings at the end of 2023 after including around $3 billion of private financing at the holding-company level, according to S&P. Full story on Bloomberg Terminal Giulia Morpurgo Luca Casiraghi Sonia Sirletti Davide Scigliuzzo

Todd Boehly is planning to create a new asset management firm & is in talks to sell a stake in a bid to turbocharge growth. The firm may be valued at $10-15 billion in any deal & is set to have $65 billion in AUM at launch. Scoop w/ Sonali Basak ⬇️ bloomberg.com/news/articles/…

Sunday scoop w/ Davide Scigliuzzo ⬇️

The golden age doesn't look so golden at Prospect Capital, an $8 billion private credit fund that's facing a surge in borrowers paying interest with more debt. JSage & Ellen Rose Schneider spent months digging into why analysts are getting worried. $PSEC bloomberg.com/news/features/…

Prospect is pushing back against criticism over its frequent use of PIK debt and its reliance on individual investors for funding. Shares in its BDC have dropped 9% to a four-year low since our report on Tuesday highlighted those concerns. $PSEC bloomberg.com/news/articles/…

The CEO of Prospect Capital - an $8 billion private credit fund that's faced criticism over some of its practices - lashed out at a Wall Street analyst during an earnings call: “Is the house on fire? Why are we talking about something like that?” $PSEC bloomberg.com/news/articles/…

Wells Fargo has cut its price target on Prospect over the risk of further dilution for existing shareholders. $PSEC bloomberg.com/news/articles/…

HPS, the private credit manager carved out of JPMorgan in 2016, has begun discussing an initial public offering with potential investors trib.al/UvUVzmF

S&P has cut its outlook on Prospect's $8 billion private credit fund to negative, citing concerns over mounting losses and non-accruals. $PSEC Story by Ellen Rose Schneider bloomberg.com/news/articles/…

JPMorgan has agreed to partner with Cliffwater, FS Investments and Shenkman in an effort to broaden its reach in the $1.7 trillion private credit market trib.al/cQdzUYd

After losing market share to private credit lenders for years, banks are winning some business back. Almost $30 billion of private debt has been refinanced through broadly syndicated loans so far this year. Story by Ellen Rose Schneider & Michael Tobin bloomberg.com/news/articles/…

Some candid comments from CVC’s Mazza on NAV lending. “They’re really putting leverage on already levered companies.” “In my opinion that’s a bad sign.” w/ Giulia Morpurgo bloomberg.com/news/articles/…

BlackRock is among firms exploring a purchase of credit manager HPS Investment Partners Scoop w/ Dinesh Nair Davide Scigliuzzo Ryan Gould et al ⬇️ $BLK bloomberg.com/news/articles/…

Another option on the table for HPS, alongside IPO or outright sale: minority stake investment worth $1b or more from Lunate, the Abu Dhabi-based asset manager. Scoop w/ Dinesh Nair & Silas Brown bloomberg.com/news/articles/…

Private credit M&A is on 🔥 Monroe Capital, a US lender with nearly $20b of AUM, has agreed to sell a majority stake to European investment firm Wendel. Scoop ⬇️ bloomberg.com/news/articles/…

Canyon Partners CIO Todd Lemkin is leaving the firm after more than two decades, capping a series of leadership changes at the $26 billion asset manager trib.al/uYUTcEJ

Our Big Take today: How insults and indecision dragged down a private-credit pioneer. w/ Ellen Rose Schneider & Silas Brown bloomberg.com/news/features/…

Our new issue of Going Private is out! Featuring: Canadian pensions, conflicts of interest, struggling pioneers and private credit as “the economic Marines”. ⬇️ Read & subscribe here ⬇️ Bloomberg.com/goingprivate