Suzie Neuwirth

Financial services firm Mesirow has acquired Bastion Management, an asset-backed specialty finance lender, to expand its alternatives capabilities.

Private credit-focused exchange traded funds (ETFs) are starting to enter the market, enabling investors to gain access to the asset class in a more liquid wrapper.

The outlook for private credit is “still sunny”, according to AllianceBernstein, despite the potential for some “short-term bumps in the road”.

Goldman Sachs is launching a new division to help it compete better with private credit firms on financing large deals and lending to corporate clients.

Pimco has boosted its asset-based finance business with a new appointment.

Ares Management has raised a record €30bn (£25.3bn) for its latest European direct lending fund, which it believes to be the largest institutionally-funded direct lending vehicle in the market.

Fintech Tradable announced that it has tokenised $1.7bn (£1.4bn) of assets across nearly 30 institutional-grade private credit positions.

Manulife Investment Management (Manulife IM) has appointed Ryan Hanna as global chief operating officer of private markets to scale up that segment of the business.

Generali Investments, the asset management arm of the Generali Group, is buying a majority stake in MCG Investment Group for $320m (£262.7m) to boost its private credit capabilities.

Asset-based finance (ABF) is an “evolutionary step for many private debt investors seeking diversification from material direct lending allocations”, according to TwentyFour Asset Management analysis.