News

KBRA released research on the potential default of Khoros (formerly known as Lithium Technologies) and its effects on KBRA-rated transactions and the wider private credit market.

euNetworks closed on a €2.1 billion equity recapitalization. Investors in the recap included a Stonepeak managed vehicle anchored by Mercer and Aware Super and direct investments from the Investment Management Corporation of Ontario (IMCO) and APG Asset Management.

Deerpath Capital Management, a private credit manager focused on lending to the U.S. lower-middle market, reset and upsized Deerpath CLO 2018-1, a $402.8 million collateralized loan obligation (CLO).

KBRA released an update to its May analysis, reporting that annual recurring revenue was slightly down quarter over quarter, marking a decline for the first time since Q4/21.

European venture capital firm redalpine closed its largest-ever fund, redalpine capital VII (RAC VII), at $200 million. Alongside this milestone, redalpine is expanding its footprint with a new office in London, enhancing its commitment to unlocking innovation across Europe.

Almost three quarters (73%) of American small business owners say their business has grown in the last year, with even higher percentages for Black (84%) and Hispanic (80%) owners, according to the U.S. Bank 2024 Small Business Perspective.

Magnetar, an alternative asset manager, closed a $235 million venture fund, Magnetar AI Ventures Fund. The fund’s investor base is comprised of global institutions and strategic partners, including PEAK6 Strategic Capital and Apex Fintech Solutions.

CenterOak Partners, a Dallas-based private equity firm, closed CenterOak Equity Fund III. The fund was oversubscribed and achieved its hard cap with total capital commitments of over $1.1 billion.

The TCW Group, a global asset management company, closed its second $400 million collateralized loan obligation (CLO) fund this year, TCW CLO 2024-2, which is secured primarily by broadly syndicated first-lien loans.

Logos Development, under the leadership of Pastor Martin Porter, engaged Walker & Dunlop as its exclusive financial advisor to secure $400 million in debt and equity capital to develop over 2,000 affordable housing units.