Latest news with #private credit
Bloomberg
2 days ago
- Business
- Bloomberg
Australia Regulator Probes $20 Billion Private Credit Manager
Australia's corporate watchdog is scrutinizing private credit manager Metrics Credit Partners Pty because of concerns over loan valuations and governance practices that have emerged as part of a broader industry probe, according to people with knowledge of the matter. The probe is part of a two-year review of private markets that the Australian Securities & Investments Commission is conducting across the industry. The regulator is giving more attention to Metrics and some of its transactions because of specific concerns about the firm's practices and in light of its substantial exposure to real estate, according to the people.
Yahoo
4 days ago
- Business
- Yahoo
KBRA Releases Research – Private Credit SF: How KBRA Ratings Stack Up
NEW YORK, July 16, 2025--(BUSINESS WIRE)--KBRA releases research on private credit ratings in the structured finance (SF) landscape, providing an overview of this market and detailing rating activity and performance. Once considered a niche market, private credit securitizations have become a core element of the SF landscape, particularly within the asset-backed securities (ABS) and structured credit (SC) sectors. Since 2022, approximately 20% of all KBRA-rated SF transactions and 12% of rated SF volume have been privately placed. The share of private placements in ABS and SC reached nearly 30% and 65%, respectively, over the same period. The rise in private credit SF has been driven by increased demand from alternative investment managers—which may seek bespoke structures to align with specific investment objectives—as well as a growing preference among certain SF issuers for greater flexibility, customization, and confidentiality in execution. This report outlines key factors driving private rating assignments in KBRA's SF ratings universe. It also highlights the SF asset classes where KBRA has observed the most significant levels of private rating activity and evaluates the relative stability and performance of KBRA private ratings compared to their public counterparts. Key Takeaways KBRA's privately rated transactions have been largely concentrated in the ABS and SC sectors. In contrast, privately rated commercial mortgage-backed securities (CMBS) and residential mortgage-backed securities (RMBS) have remained limited. Approximately 22% and 56% of all KBRA-rated ABS and SC transactions have been privately rated since we issued our first SF rating in 2011; however, since 2022, that percentage has risen to 27% and 65%, respectively. KBRA's private ratings are assigned and monitored using the same methodologies, processes, and staff as KBRA's public ratings. Regardless of whether a rating is private or public, KBRA assigns and surveils its ratings to adhere to the same rating definitions. KBRA's private SF ratings exhibited a higher KBRA Stability Ratio (KSR) than public SF ratings across nearly all rating categories over their lifetime from 2011 to 1H 2025. The overall lifetime KSR for private SF ratings was 97.7%, compared to 96% for all public SF ratings. Click here to view the report. Recent Publications OBBBA Casts Shadow on the Solar ABS Industry Sound Check: Music ABS Performance Data Centers: A Comparison of ABS and CMBS Structures Fiber ABS: Enterprise Fiber Takes Industry Beyond FTTP's Last Mile Navigating Trade Winds: Tariff Impacts on Aviation ABS A Decade of Solar Loan ABS: Trends and Developments About KBRA KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions. Doc ID: 1010376 View source version on Contacts Brian Ford, Managing Director+1 Sean Malone, Senior Managing Director, Co-Head of Global Structured Credit+1 Jack Kahan, Senior Managing Director, Global Head of ABS & RMBS+1 Media Contact Adam Tempkin, Senior Director of Communications+1 Business Development Contact Arielle Smelkinson, Senior Director+1 Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Globe and Mail
4 days ago
- Business
- Globe and Mail
Kayne Anderson BDC, Inc. Announces Investment in SG Credit Partners, Inc., a Leading Lower Middle Market Credit Platform
Kayne Anderson BDC, Inc. (NYSE: KBDC) ('KBDC' or the 'Company'), a business development company externally managed by its investment adviser, KA Credit Advisors, LLC, an affiliate of Kayne Anderson Capital Advisors, LP ('Kayne Anderson'), today announced an investment in SG Credit Partners, Inc. (along with affiliates and subsidiaries; 'SG Credit'), a national credit platform focused on the lower middle market to complement KBDC's middle market investing strategy. SG Credit was formed in 2013 and has invested in more than 200 companies, originating over $1.0 billion in commitments across its three lending verticals (Commercial Finance, Consumer Products, and Software & Technology). With offices in Newport Beach, Santa Monica, Atlanta, Boston, and Chicago, SG Credit plans to use its expanded capital base to grow existing verticals and develop adjacent businesses. The investment complements KBDC's private credit investment capabilities by further diversifying proprietary investment channels and will be structured as an $80.0 million term loan facility, $34.0 million delayed draw term loan facility and $12.0 million common equity investment. KBDC anticipates that its debt investment in SG Credit will be immediately accretive to earnings in 2025. KBDC will also be a significant minority shareholder in SG Credit following the closing of the transaction. 'This is a key strategic opportunity for KBDC and highlights our commitment to growing our portfolio with value-enhancing investments,' said Doug Goodwillie, Co-Chief Executive Officer of KBDC. 'SG Credit's unique lower middle market lending platform is highly complementary to our business and will further enhance the returns of KBDC's diversified portfolio.' 'There have been a number of highly successful investments by BDCs and credit managers into asset-based platforms and finance companies in the past few years,' said Frank Karl, Senior Vice President of KBDC. 'We have known the team at SG Credit for many years and they have delivered a strong track record of returns for their investors. We think that their investment culture is well-aligned with KBDC's and are excited to partner with the team to provide a greater breadth of financing solutions to our clients.' SG Credit Chairman Mack McNair commented, 'We appreciate Kayne Anderson's confidence in SG Credit. Their investment, combined with continued support and incremental investment from 4612 Group and The Cynosure Group, is a validation of the business we are building with Marc Cole, Charlie Perer, Andrew Hettinger, and the entire SG Credit team. With this investment, SG Credit is well-positioned in its pursuit of sound, profitable, growth as a leading multi-product credit platform serving the lower middle market.' 'We are proud and excited to partner with a firm of the caliber and history of Kayne Anderson. This collaboration will not only support our growth with additional capital but also enable us to offer innovative, value-added financing solutions to a wider range of companies,' said Marc Cole, Co-Founder and Chief Executive Officer of SG Credit. Fenchurch Advisory Partners US LP is serving as financial advisor and Mayer Brown LLP is acting as legal advisor to KBDC. Solomon Partners is serving as financial advisor and Greenberg Traurig LLP and Brenner, Saltzman & Wallman LLP are acting as legal advisors to SG Credit. About Kayne Anderson BDC, Inc. Kayne Anderson BDC, Inc. is a business development company ('BDC') that invests primarily in first lien senior secured loans, with a secondary focus on unitranche and split-lien loans to middle market companies. KBDC is externally managed by its investment adviser, KA Credit Advisors, LLC, an indirect controlled subsidiary of Kayne Anderson Capital Advisors, L.P., a prominent alternative investment management firm. KBDC has elected to be regulated as a BDC under the Investment Company Act of 1940, as amended ('1940 Act'). KBDC's investment objective is to generate current income and, to a lesser extent, capital appreciation. For more information, please visit About SG Credit Partners, Inc. SG Credit Partners ('SGCP'), is a national private credit manager providing capital to lower middle market businesses and entrepreneurs requiring tailored credit solutions. SGCP has established a broad credit platform consisting of three verticals: Software + Technology, Consumer Products, and Commercial Finance. Headquartered in Southern California with offices throughout the country, the firm has provided in excess of $1 billion to lower middle market entrepreneurs across a variety of industries. About 4612 Group 4612 Group is an Atlanta-based investment firm and Registered Investment Advisor. 4612's team has more than 20 years of experience investing alongside one another and focuses primarily on direct investments where it partners with founders and management owners of mid-sized businesses throughout the US. About The Cynosure Group The Cynosure Group is a Salt Lake City based diversified investment firm that supports family offices, foundations, endowments, and like-minded investors who are seeking to build their wealth and maximize their impact in the world. Cynosure's direct growth equity investments target partnerships with founders and management-owners of profitable small to mid-sized North American-based companies who will remain meaningful owners of their business. Forward-looking Statements This press release may contain 'forward-looking statements' that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about KBDC, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'will,' 'may,' 'continue,' 'believes,' 'seeks,' 'estimates,' 'would,' 'could,' 'should,' 'targets,' 'projects,' 'outlook,' 'potential,' 'predicts' and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond KBDC's control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in KBDC's filings with the SEC. All forward-looking statements speak only as of the date of this press release. KBDC does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.
Bloomberg
5 days ago
- Business
- Bloomberg
JPMorgan's Jamie Dimon Says the Rush Into Private Credit May Have Peaked
By and Paige Smith Save The biggest US bank isn't itching to buy a company in Wall Street's hottest market. 'You may have seen peak private credit,' JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said on a Tuesday call to discuss second-quarter earnings. 'A little bit,' he added as a caveat, 'I don't know.'
Wall Street Journal
5 days ago
- Business
- Wall Street Journal
Private Credit Can Bring Risk Along With Liquidity to Commercial Property Finance
Private credit's growth is adding liquidity—and risk—to the U.S. commercial real-estate market, according to a report from Moody's Ratings. Interest rates staying higher for longer and recent declines in property values are expected to drive more CRE borrowing to nonbank lenders in the coming years. Against market headwinds, private credit has stepped in to fund borrowers that may not meet traditional banking standards, according to Moody's.
