Finastra reportedly preps record-breaking private credit deal

• If that record sounds familiar, it's because Carlyle Group was working on a $5.5 billion private credit package for its takeover of health care analytics company Cotiviti, before deal talks collapsed earlier this month.

Details: Finastra, which provides payment infrastructure software, reportedly is in talks with Oak Hill Advisors, KKR, Sixth Street Partners and Ares Management.

• The company was acquired by Vista in 2012, and has over $4 billion of debt set to mature.

The bottom line: If this deal goes through, don't expect the record to hold for long, as private credit funds were sitting on a whopping $1.4 trillion at the end of 2022.