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Bloomberg reports that Blackstone Inc. is seeking bank funding for its acquisition of AirTrunk, bypassing private credit funds. Banks like Citigroup, DBS Group Holdings, and Deutsche Bank are in talks to provide A$5.5 billion in financing, offering more favorable terms than private lenders. This move highlights the dominance of banks in the Asia Pacific region, where private credit remains a niche market. Blackstone plans to roll over A$7 billion of AirTrunk's existing loans and expand its bank group for funding. [Extracted from the article]

Blackstone Inc. has provided a $600 million private credit loan to Acuity Knowledge Partners, a research and data company owned by Permira Holdings LLP. The loan will be used to refinance Acuity's existing debt and is structured as a unitranche, which combines senior and junior debt. Blackstone has confirmed that the loan has closed, but has not provided further details. Permira acquired Acuity in January 2023 from Equistone Partners Europe Ltd. for an undisclosed amount. Neither Permira nor Acuity have commented on the loan. [Extracted from the article]

Australian data-center operator, NEXTDC Ltd., is seeking a A$2.9 billion syndicated loan from banks to expand its operations in Asia. CEO Craig Scroggie stated that the demand for digital infrastructure to support cloud and AI technologies in the Asia-Pacific region is driving the need for expansion. The loan, along with a A$750 million capital raising, will provide NEXTDC with over A$3 billion to fund the rollout of nine sites across the region. This move comes amidst a flurry of recent deals in the data-center industry, including the purchase of Australia's AirTrunk by Blackstone Inc. and Canada Pension Plan Investment Board. The loan is being led by Commonwealth Bank of Australia, HSBC Holdings Plc, National Australia Bank Ltd., and Royal Bank of Canada. [Extracted from the article]

Australian data-center operator, NEXTDC Ltd., is seeking a A$2.9 billion syndicated loan from banks to expand its operations in Asia. The CEO, Craig Scroggie, stated that the demand for digital infrastructure to support the rapid expansion of cloud and AI technologies in the Asia-Pacific region is driving the need for expansion. The loan, along with a A$750 million capital raising, will provide NEXTDC with over A$3 billion to fund the rollout of nine sites across the region. The loan is being led by Commonwealth Bank of Australia, HSBC Holdings Plc, National Australia Bank Ltd., and Royal Bank of Canada. [Extracted from the article]

Carlyle Group Inc. and amicaa, an Australian private credit manager, have agreed to provide a NZ$140 million ($86 million) loan to support a management buyout of New Zealand fuel retailer NPD by its CEO, Barry Sheridan. The loan will be used to refinance existing debt and facilitate the takeover. NPD, founded in 1969, operates a fuel transportation fleet across 109 sites and offers fuel cards to customers. Carlyle and amicaa have previously collaborated on financing deals for other companies in Australia and New Zealand. [Extracted from the article]

Credit investor SC Lowy Financial HK Ltd. has approached lenders of a A$1.6 billion loan to Healthscope Ltd., an Australian hospital operator, to inquire about selling the debt. Healthscope is currently in talks with lenders to restructure its liabilities, including a proposal to split its hospitals into two groups. The lenders have formed a steering committee and hired advisors, while Healthscope has also brought on additional restructuring advisors. The loan in question is set to mature in June 2027 and includes major Australian banks, Asian banks, and private credit funds as lenders. [Extracted from the article]

Ares Management Corp. has raised $1.7 billion for a credit fund in Australia and New Zealand, taking advantage of opportunities created by banks reducing leveraged lending. The Ares Asia Direct Lending fund has already deployed over $1.04 billion in loans to various companies, including InvoCare Ltd., Allegro Funds, and BGH Capital's Pushpay. This fund is significant because Australia and New Zealand lack a high-yield bond market and have a limited institutional capital market for high-yield borrowers. The fund includes investments from sovereign wealth funds, pension funds, insurance companies, family offices, and high net worth individuals. [Extracted from the article]

Ares Management Corp. has raised a $1.7 billion credit fund for Australia and New Zealand, taking advantage of opportunities created by banks scaling back on leveraged lending. The Ares Asia Direct Lending fund has already deployed over $1.04 billion in loans to various companies, including InvoCare Ltd., Allegro Funds, and BGH Capital's Pushpay. This fund is significant because Australia and New Zealand lack a high-yield bond market and have a limited institutional capital market for high-yield borrowers. The fund includes investments from Asia Pacific sovereign wealth funds, pension funds, insurance companies, family offices, and high net worth individuals. [Extracted from the article]

The lender group also includes Barings, KKR & Co., Macquarie Group Ltd., Nomura Holdings Inc., Partners Group, and Pierfront Capital, according to the people. (Bloomberg) -- TPG Inc. has lined up a group of private credit funds led by Ares Management Corp. to help finance its acquisition of Australian funeral home operator InvoCare Ltd., according to people with knowledge of the matter. [Extracted from the article]

(Bloomberg) -- TPG Inc. has lined up a group of private credit funds led by Ares Management Corp. to help finance its acquisition of Australian funeral home operator InvoCare Ltd., according to people with knowledge of the matter. The lender group also includes KKR & Co., Macquarie Group Ltd., Nomura Holdings Inc., Partners Group, and Pierfront Capital, according to the people. [Extracted from the article]

The lender group also includes BPEA EQT, KKR & Co., Macquarie Group Ltd., Nomura Holdings Inc., Partners Group, and Pierfront Capital, according to the people. (Bloomberg) -- TPG Inc. has lined up a group of private credit funds led by Ares Management Corp. to help finance its acquisition of Australian funeral home operator InvoCare Ltd., according to people with knowledge of the matter. [Extracted from the article]