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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]

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]