Private Credit archive
Every Private Credit story, newest first. 419 stories
3 stories
- Distressed & restructurings
Altice International loans fall to 59.75 in 2.6-point slide
Altice International's EUR 1.2bn of 2027 loans broke below 60 on the morning of 8 September; at that level, a 500bp coupon prices recovery, not income.
- Direct Lending
Pluto's flagship fund crosses £500m and targets Europe
As Lending Vehicle VIII expands beyond the UK, Pluto is betting on the 65% of borrowers who come back.
- Direct Lending
Bridgepoint's €1.2bn CV gives a 2017 fund a new clock
The Pantheon-led transfer shows secondaries capital absorbing seasoned direct loans, turning fund maturity from a selling deadline into a choice.
7 stories
- Fund launches & raises
BNPP AM Alts closes €1.2bn junior infrastructure debt fund
BNPP's €1.2bn junior infrastructure debt close is a private-credit mandate with an infrastructure label, and its investors are paying for a specific place in the debt stack.
- BDCs
BDC non-accruals climb as stress stays contained
The median non-perpetual-life BDC now carries 2.75% of investments at cost on non-accrual, up from 1.81%; the deterioration is selective enough to make manager selection the only durable answer.
- Direct Lending
European direct lending is now the M&A market
Debtwire data puts direct lenders at the center of European leveraged buyouts, making their underwriting discipline the swing factor for the region's M&A credit cycle.
- The Wrap
Blackstone’s October hybrid CLO will test the cost of private credit’s opacity
Sona’s second all-credit print and Eagle Point’s infrastructure move broaden the question of how far the CLO structure can stretch beyond broadly syndicated loans.
- Direct Lending
PGIM names Frankfurt-based head for DACH direct lending
The M&G hire puts a proven regional operator on sponsor-led origination as European direct lending volume sags.
- Fund launches & raises
Claret beats target with €575m growth-debt fund
European growth debt has become an allocation lane: Fund IV closed 15 percent above target, with a third already deployed and an ELTIF channel for private wealth.
- Direct Lending
Blackstone sets October test for hybrid CLO
A euro-denominated hybrid blending private credit and broadly syndicated loans would put Blackstone's private assets under public CLO pricing; October's print will show what that access costs.
1 story
- BDCs
Loan trading's second-quarter dip masks a record tape
Underwrite the $978 billion trailing volume, not the quarter that followed a record.
5 stories
- BDCs
BCRED's redemption queue stabilizes, but the cap still binds
Blackstone's nontraded BDC broke its run of rising exit requests last quarter, but the 5% repurchase limit remains the constraint and the backlog unresolved.
- BDCs
Blue Owl borrows to grow; BDC Reporter wants spread math
The new debt is a growth trade whose spread math has not been disclosed.
- BDCs
Phil Tseng out at BlackRock TCP as credit stress persists
BlackRock's listed BDC has tapped a successor, but the underperforming credits weighing on the shares will outlast the corner-office handoff.
- Direct Lending
Oak Hill CLO reissue prices AAA debt under SOFR plus 120
A sub-120bp senior note print makes repricing a seasoned CLO cheap enough to widen the set of managers who can fund existing books through resets.
- Direct Lending
Antares prices $850M private credit CLO, AAA at 145bp
The upsized Antares CLO 2026-4 shows new-issue private credit collateral still has liability buyers.
4 stories
- Direct Lending
IFM opens Singapore office to push Asia private credit
The Australian pension-backed investor plans to put up to half of its $1bn private credit fund in Asia, backed by A$175m in Australian government support.
- Fund launches & raises
Sona plans more all-credit CLOs in Europe
A second European print would turn the hybrid from proof of concept into a repeatable funding channel.
- The Wrap
Europe's CLO New-Issue Shelf Is Open, and KKR Is Staffing for It
New European CLOs are pricing alongside a second Fair Oaks reset, and the hires that follow are aimed at sourcing collateral, not just trimming funding costs.
- Direct Lending
Arini hires Bain private equity partner to run hybrid capital
A buyout veteran moves into a credit seat as the firm leans into flexible financing.
9 stories
- Fund launches & raises
Goldman's ABF pitch is a construction argument
Kevin Sterling framed asset-based finance as a diversification play. The next asset-based finance sleeve from a large manager will show whether the line holds.
- Fund launches & raises
The PEI 200 ranks fundraising, not performance
Committed capital is not deployed capital, and the new North America-heavy list is best read as a map of fundraising momentum, not a quality rating.
- Direct Lending
Pallas Capital secures £200m facility for UK bridging growth
A £200m senior line from a European debt fund gives the January-launched UK lender committed capital before it has a track record of its own.
- Direct Lending
KKR hires BofA, JPMorgan bankers for European credit
A former EMEA debt capital markets head and a JPMorgan M&A dealmaker join KKR as CLO resets make funding cheaper and sourcing assets the harder problem.
- Fund launches & raises
European CLO pipeline stirs as reset wave rolls on
Capital Four, PGIM and Silver Point are set to price new deals while Fair Oaks markets a second reset of its 2019-vintage vehicle, keeping the funding valve open for private credit books.
- Who's investing
LACERA puts Cheyne in charge of $750m credit mandate
The $93.9bn pension is folding hedge-fund and illiquid credit into one managed account rather than a series of separate commitments.
- Direct Lending
Faes & Co's London hire is a distribution move
Michael Tschirley joins from LendInvest to market the US residential bridge-loan fund to UK and European investors.
- The Wrap
Direct lending finally prices manager selection
Ares reports the first real dispersion in years, and origination and distribution become the premium beta buyers cannot buy.
- Direct Lending
Blue Owl plants a Zurich flag for European private wealth
The firm's new Swiss base, led by a Schroders veteran, targets private banks and wealth managers as the private-credit distribution race crosses the Atlantic.
11 stories
- Direct Lending
Pollen Street backs £110m Morpheus bridge line
A senior line to Morpheus makes Pollen Street a funder to a funder, wagering on the lender's technology and underwriting.
- Direct Lending
Gordon Brothers pitches flexibility as asset-based lending's edge
The Feb. 3 PDI byline offers no numbers, just a bet that collateral, not narrative, will decide the next credit cycle.
- Fund launches & raises
Eagle Point turns to infrastructure CLOs as the BSL market crowds
The alternative credit firm is shifting into a corner of the CLO market with fewer players, testing whether the structure can fund long-duration real assets.
- Direct Lending
Ares sees first real dispersion in direct lending in years
After years of uniform pricing, direct lenders are diverging, and allocators who buy the asset class on beta are underwriting yesterday's market.
- Who's investing
Crescent pitches CLO equity to insurers as a distribution play
The $232m fund's cash-on-cash yield is the hook as private equity's distribution drought pushes allocators to income-paying structured products.
- Direct Lending
Sound Point hires Cerberus MD to lead CRE capital formation
The $44bn manager's CRE credit book spans 167 loans and $4.3bn, and Faris AbiNader is the hire meant to fund the next leg.
- Direct Lending
MUFG's Japan platform makes origination the scarce asset
The bank's parallel talks with BlackRock and MSIM would rent out its corporate relationships instead of building a credit book from zero.
- Direct Lending
Ares prints $510M CLO at 121bp as new-issue meets reset
A fresh-issue print one basis point from last week's reset wave puts a floor under direct lending's funding costs.
- Fund launches & raises
Fortress bets two hires on Japan and EMEA savings shift
The $55bn manager is wagering that reform will push household cash off the sidelines in two markets where deposits still dominate.
- The Wrap
First-loss CBO risk becomes a standalone product
The CLO funding valve now trades the liability side of managers' own funds, with repriced feeders and new-issue shelves still open.
- Who's investing
Four Australian institutions put A$705m into Arcmont’s European direct lending
A bespoke mandate for four Australian investors points private credit toward dedicated portfolios, with Europe the main beneficiary of US headwinds.