The US firm has hired an executive from JP Morgan, as insurers and other allocators continue to push into private credit, Private Debt Investor can reveal.
Investors have concerns over the region – but that doesn’t mean capital will be redirected elsewhere any time soon.
The deal will see up to €1bn of investment to grow Oaktree’s European direct lending platform.
BDC redemption rates have increased sharply due to numerous macroeconomic issues and uncertainty around the impact of AI, but this could precede a rebound in credit fortunes.
The latest vintage of the series, which previously held rights to Taylor Swift’s catalogue, continues its focus on acquiring cashflow-generating assets.
Despite more positive attitudes towards Europe as an investment destination, fundraising in the region remains low.
The global direct lending platform is comprised of around 10 vehicles across a variety of structures.
HPS will tap into Citigroup’s origination capabilities to provide loans to corporate and sponsor-backed borrowers.
Speakers at the PDI Europe Forum raised concerns around areas such as climate change, an upcoming wall of debt refinancing and a shift into lower-rated credit.
If the customer/employee management platform defaults, more than $5bn of equity value would be at risk of being erased, report says.