Private Credit archive
Every Private Credit story, newest first. 419 stories
1 story
- Fund launches & raises
Shenkman raises $400m for a first-loss book on its own CBOs
A dedicated first-loss fund makes a forward bet against the reset wave.
3 stories
- Fund launches & raises
New Mountain reprices $178M rated feeder via Wells Fargo
The $178 million repricing shows rated feeders have become standard funding tools.
- Fund launches & raises
AMMC, Warwick and Centerbridge keep the new-issue CLO shelf open
Three repeat issuers price through RBC, Nomura and SMBC Nikko, a sign the primary shelf remains open even as resets dominate the tape.
- The Wrap
The CLO reset wave hits infrastructure
Eagle Point tests the structure on real-asset debt while Victory Capital buys the platform to fund its own private credit book.
2 stories
- BDCs
Second quarter puts BDC books to the test
The market has already priced the downturn. Second-quarter reports will show which BDC managers accepted it.
- Who's investing
Muted exits turn LPs toward emerging private credit managers
Private Debt Investor's LP Perspectives Study 2026 finds allocators weighing new-fund backing as the exit environment stalls.
2 stories
- Who's investing
KCPSRS sets private debt policy, reviews managers
A public pension plan moves on private credit, with the size of the allocation and the manager list still undisclosed.
- Direct Lending
LSTA draws fund-level ABLs into one diligence framework
Two new LSTA practice notes map collateral controls across cash-flow loans, operating-company ABLs, and CLO warehouses.
9 stories
- Fund launches & raises
Blackstone prices the week's only Euro CLO as supply thins
The week's only new European CLO cleared at the tight; the empty calendar says supply, not demand, is the constraint.
- The Wrap
Private credit secondaries start delivering
CVC's debut fund, Arrow's legacy-book haul and Velocity's Toorak takeover show seasoned loans are a deliberate strategy, not a distress trade.
- Direct Lending
Private credit's $208bn half hides a tech pullback
CVC Credit's second-quarter report shows a widening gap between the capital flowing in and the assets managers are willing to touch.
- BDCs
Capital Southwest locks in 2026; 2027 is the test
BDC Reporter's review weighs whether Capital Southwest can hold its payout pace into 2027 and 2028.
- Fund launches & raises
Eagle Point readies first infrastructure CLO
A Creditflux exclusive says the alternative credit firm's debut is imminent, testing whether the CLO funding structure can work on infrastructure debt.
- Fund launches & raises
Jana launches A$270m trust to fix private credit's cash drag
Customised mandates with Arcmont and Jefferies Credit Partners give wholesale investors control over deployment and the fees they pay during ramp-up.
- Fund launches & raises
Crescent doubles CLO equity bet with $232m final close
The sophomore fund more than doubles its 2018 predecessor and keeps first-loss risk in-house.
- The Wrap
The CLO complex runs two ways now
Symetra's new-issue print and Crescent's doubled equity fund show resets are not the only game in town.
- Fund launches & raises
BridgeInvest banks $612M for open-ended RE credit fund
The Miami manager's open-ended fifth vintage is on pace to top $1 billion in LP commitments by 2027.
8 stories
- Fund launches & raises
Symetra's first 2026 CLO tests the new-issue line
The $459 million BSL print, arranged by Morgan Stanley, is new issuance in a tape crowded with resets — a small test of whether fresh collateral still clears.
- Fund launches & raises
Crescent doubles CLO equity bet with $232m close
Crescent's sophomore CLO equity fund closed at $232m, more than double its 2018 debut, showing that allocators still want the first-loss slice even as debt resets compress spreads.
- Direct Lending
Velocity takes on Toorak's $3bn book and buys the platform that runs it
Velocity Financial is acquiring KKR-backed Toorak's business-purpose lending platform and taking over management of its $3bn loan portfolio, a consolidation play in direct lending.
- Direct Lending
BSP tells lenders to underwrite a wider rate path
Ahead of Jackson Hole, Benefit Street Partners' Anant Kumar says volatility should be priced in, not waited out.
- The Wrap
Private credit finds a door into 401(k)s
Principal's CIT shelf puts fourteen private credit managers in front of default-fund assets as BDC books contract and CLO issuance strains.
- Fund launches & raises
Aura's credit sleeve does the heavy lifting
Aura's 40% credit sleeve is the liquidity layer that makes the quarterly promise credible, leaving the 60% PE allocation to carry returns.
- Direct Lending
Bridge's $500m supplier fund bets on order-backed lending
The Citi-backed platform is aiming to turn the retail payment cycle into a repeatable direct lending product.
- Fund launches & raises
CVC plants a $500m flag in private credit secondaries
CVC's debut private credit secondaries fund is small by design, a test of a market that has long talked about liquidity without producing much of it.
6 stories
- Fund launches & raises
Victory Capital agrees to buy CLO manager First Eagle for $7B
The acquisition is a bet that CLO management is a durable funding business as resets become private credit's liquidity valve.
- Who's investing
Private credit wins shelf on Principal's 401(k) platform
The retirement provider's collective investment trust program puts Apollo, Ares, KKR and eleven other managers inside the defined-contribution channel, where sticky default-fund assets could become a new source of long-duration capital.
- Direct Lending
Noble puts debt and exits under one capital markets hire
The $5bn hospitality manager adds Matt Noland to a role spanning debt origination and strategic asset realizations, as exits become the scarce skill in direct lending.
- Direct Lending
Sona hybrid CLO opens Europe's private credit market to smaller managers
The BSL/private credit structure lowers the scale barrier that kept European CLO funding in the hands of the largest direct lenders.
- Direct Lending
Victory's real prize in First Eagle deal is a CLO engine
The $41bn CLO platform inside the transaction gives Victory the machinery to fund its private credit book in-house.
- The Wrap
BDC books shrink while CLO managers print $1.8bn
A 3.4% non-accrual rate and deliberate balance-sheet contraction have not slowed structured-credit issuance; the separation is the new funding reality.
9 stories
- Direct Lending
Four managers price $1.8bn of US CLOs into summer break
Fresh issuance from Sixth Street, FS, Aegon and Polus shows the funding valve is still open, and who prints now may set next cycle's cost of capital.
- BDCs
BDCs shrink their books by choice as redemptions bite
Morningstar DBRS puts non-accruals at 3.4 percent, up from 3.1 percent, as BDCs let repayments and asset sales outpace new loans—turning a defensive stance into strategy.
- Fund launches & raises
Perpetual credit funds trade the deployment clock for patience
Clearlake and Callan filed evergreen-style credit vehicles the same week traditional drawdown funds kept raising, building capital that can afford to wait.
- Fund launches & raises
Insurers return for Nuveen's fourth C-PACE vintage
The $3bn series total turns climate-linked real estate debt from a pilot into a portfolio line item.
- Direct Lending
The new front in credit: staffing the syndication desk
A staffing spree across banks and private credit managers shows the two loan markets are becoming one—and the prize is control of the mark.
- Distressed & restructurings
First Brands judge knocks out plan and credit bid
A rejected credit bid and a looming Chapter 7 conversion make lien perfection and sale procedure, not just collateral, the deciding factor in private credit recoveries.
- The Wrap
NAIC fast-tracks decision on Apollo CLO variants
The outcome will determine whether insurers can treat private credit securitizations as bonds, and how deep the buy-and-hold bid for the reset wave runs.
- Direct Lending
European direct lending hits a half-year record as Q2 volumes slide
Debtwire's league table shows a front-loaded 2026: a record first half, a 25% second-quarter drop, and Ares atop a concentrated market.
- Fund launches & raises
Arrow's €5.2bn haul rewards the legacy-book trade
Arrow's FUM jumped 44% to €15.5bn while deployment barely moved, showing LPs are funding the purchase of legacy credit, not new origination volume.