Newsletter Edition 57
Feb 13, 2025
Oaktree Closes $16 Billion Opportunities Fund XII
Oaktree Capital Management has successfully closed its Oaktree Opportunities Fund XII (Opps XII) with approximately $16 billion in capital commitments, including co-investments and affiliated vehicles. The fund, which targets both public and private market opportunities, has already invested or committed over $7 billion across diversified geographies, sectors, and asset classes.
Opps XII prioritizes capital structure seniority, downside protection, and high cash coupon profiles, aligning with Oaktree’s long-standing investment philosophy.
“Oaktree’s Global Opportunities strategy has a 36-year track record of delivering strong returns through disciplined and diversified capital deployment,” said Bruce Karsh, Co-Chairman and Chief Investment Officer of Oaktree. “The successful raising of $16 billion underscores our investors’ confidence in our approach.”
Bob O’Leary, Co-CEO of Oaktree, emphasized the firm’s expertise in complex investment situations: “Our scale and ability to execute quickly allow us to access a wide range of attractive opportunities.”
With $202 billion in assets under management, Oaktree continues to strengthen its position as a leading alternative investment firm, leveraging its expertise in credit markets to capitalize on evolving market conditions.
https://alternativecreditinvestor.com/2025/02/11/oaktree-closes-12th-opportunities-fund-with-16bn/
Invesco Private Credit Closes $1.4 Billion Direct Lending Fund
Invesco Private Credit has secured $1.4 billion in committed capital for its Invesco Direct Lending Fund II and related vehicles, marking a significant milestone for the firm’s global private credit platform.
Scott Baskind, CIO and Global Head of Invesco Private Credit, credited the firm’s 36-year history and extensive resources for the successful fundraise. “Our dedicated direct lending team is part of the $48 billion Invesco Private Credit platform, and our deep expertise has established us as a trusted partner in the core middle market,” he stated.
Ron Kantowitz, Managing Director and Head of Direct Lending, emphasized favorable market conditions driving demand. “Significant market tailwinds and record capital raised in private equity are fueling robust M&A activity, creating ample opportunities to deploy capital in high-quality companies,” he said.
Invesco Private Credit’s direct lending strategy focuses on originating senior secured loans to core middle-market companies in North America, typically targeting businesses with EBITDA between $20 million and $75 million. The approach prioritizes capital preservation through rigorous underwriting and asset selection, emphasizing loans with priority positions in the capital structure.
With more than 125 professionals across four global offices, Invesco Private Credit has developed a comprehensive platform spanning direct lending, broadly syndicated loans, and distressed credit.
The fund’s successful close highlights growing investor appetite for private credit, reinforcing Invesco’s role as a leading player in the middle-market direct lending space.
https://www.alternativeswatch.com/2025/02/11/invesco-private-credit-close-direct-lending-fund-ii/
Private Equity Giants Compete in $8.5 Billion Battle for Japan’s Trend Micro
Private equity heavyweights Bain Capital, Advent International, EQT AB, and KKR are competing to acquire Japanese cybersecurity firm Trend Micro in a potential JPY1.32 trillion ($8.54 billion) buyout, according to Reuters.
Reports of private equity interest sent Trend Micro’s shares soaring by 16.05% to JPY10,860 during Tokyo’s Thursday trading session, making it the top gainer on the Nikkei 225 index. However, sources caution that no deal is guaranteed, and Trend Micro could opt to remain independent.
If the acquisition proceeds, it would rank among the largest leveraged buyouts in recent months, signaling a resurgence in private equity dealmaking following a slowdown caused by rising interest rates and inflation.
Founded in 1988 by Steve Chang, Jenny Chang, and Eva Chen, Trend Micro began as an antivirus software company before expanding into cloud computing, network security, and endpoint protection.
The company reported strong financial performance in its latest earnings release, with third-quarter net sales rising 6% to JPY68.1 billion and operating income surging 42% to JPY14.8 billion, resulting in an operating margin of 24%.
Trend Micro competes with leading US cybersecurity firms, including CrowdStrike, Microsoft, Palo Alto Networks, and McAfee.
The reported interest in Trend Micro reflects growing investor appetite for cybersecurity firms, driven by increasing global demand for digital security solutions. The company has been exploring strategic options since last year, but neither Trend Micro nor the private equity firms have commented on the matter.
With multiple bidders in play, the battle for Trend Micro could intensify in the coming weeks, potentially setting the stage for one of Japan’s largest tech buyouts.
https://www.privateequitywire.co.uk/buyout-firms-in-8-5bn-battle-for-japans-trend-micro/