The $239m (£191.8m) Natick Massachusetts Contributory Retirement System is set to invest as much as $20m in direct lending funds. The US pension fund has issued a request for proposals (RFP) from private debt managers offering direct lending strategies. The retirement system covers the town of Natick, which is situated within the Greater Boston area. The […] The post Natick pension fund to allocate $20m to direct lending funds appeared first on Alternative Credit Investor ..read more

Lande Finance intends to relaunch its secondary market by the end of the second quarter of 2024. The European agricultural lending platform paused all secondary market activities in December 2023, after a large number of transactions were processed erroneously, leading to incorrect balances and calculations for investors. The platform’s chief technology officer Aleksandrs Nastasins said […] The post Lande to relaunch secondary market by end of Q2 appeared first on Alternative Credit Investor ..read more

Tor Investment Management has raised $310m (£248m) for a new Asia opportunities private credit fund. This will be the third such fund for the Hong Kong based credit manager. The fund aims to take advantage of the growing popularity of private credit in the Asia-Pacific region. It will target deals of between $50m and $150m, […] The post Tor raises $310m for new Asia private credit fund appeared first on Alternative Credit Investor ..read more

Buy-to-let crowdfunding platform InRento swung into the black last year, with net profits exceeding €170,000 (£145,800). The European lender also reported that its revenue more than doubled between 2022 and 2023, from €322,567 to €758,456. Over the course of 2023, InRento increased its share capital more than 10-fold from €65,000 to €694,673. It also confirmed […] The post InRento became profitable last year appeared first on Alternative Credit Investor ..read more

The private debt secondary market will see increased deal flow and lower discounts this year, a new survey has concluded. Ely Place Partners’ latest Private Debt Secondary Market Survey found that the year ahead will see a “large growth in volume” and quantity of deals, as the sector matures. Increased competition and a stabilising economy […] The post Private debt secondary market to see higher deal flow appeared first on Alternative Credit Investor ..read more

International fund and corporate services provider Aztec Group has appointed a head of US markets to lead its offering across North America. Scott Kraemer has joined the fund administrator in its Philadelphia office, bringing experience across alternative markets in the Americas. Before joining Aztec, Kraemer’s most recent role was as Vistra’s head of alternative investments […] The post Aztec Group appoints head of US markets appeared first on Alternative Credit Investor ..read more

German asset manager DWS has reported that the use of global sustainability-linked loans has declined from a peak of $200bn (£160bn) in 2021. The interest rate of sustainability-linked loans varies depending on the small- and medium-sized businesses’ (SMEs) progress towards an environmental, social, and governance target. However, DWS found that fewer than between 10 and […] The post SMEs underutilising global sustainability-linked loans appeared first on Alternative Credit Investor ..read more

US investment bank Raymond James has expanded its Private Capital Advisory Investment Banking practice with the addition of four senior bankers. Managing directors Callie Kourniotis, Guy Hume, Michael Henningsen and director Ash Rajah will all join the team. Kourniotis is based in New York and Hume, Henningsen and Rajah are based in London. With nearly […] The post Raymond James bolsters private capital business with four bankers appeared first on Alternative Credit Investor ..read more

Citigroup chief executive Jane Fraser has warned of arbitrage between banking and insurance, as insurers plough money into private debt. According to Bloomberg, Fraser is planning to discuss the issue at an upcoming committee meeting of Citigroup’s board. Talking to an event hosted by the Basel Committee on Banking Supervision, she highlighted that there has […] The post Citigroup boss warns of insurers piling into private credit appeared first on Alternative Credit Investor ..read more

British Business Bank (BBB) has added 31 companies to its existing list of those in which the Future Fund holds an equity interest. The latest tally takes the fund’s total equity holdings to 712 as of 31 March 2024, after the loans were converted. The Future Fund was launched during the pandemic, enabling firms to […] The post BBB reports Future Fund has stake in 712 companies appeared first on Alternative Credit Investor ..read more