Private Credit archive
Every Private Credit story, newest first. 420 stories
3 stories
- 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.
- Fund launches & raises
Granite Asia raises $500m for Libra Hybrid from DBS and an insurer
DBS Private Bank and a leading insurer join Temasek, Khazanah and the Indonesia Investment Authority in a Pan-Asia credit strategy with eight mid-market deals since 2025.
- BDCs
BlackRock's TCP exit comes down to pricing a shrunken book
BDC Reporter says the remainder of BlackRock TCP Capital's portfolio is on the block; the hard number is what it will fetch.
5 stories
- Distressed & restructurings
Private credit defaults fall despite AI software panic
S&P data shows the US default rate dropped to 3.9% by mid-2026, even as artificial intelligence anxieties hang over software-heavy direct lending books.
- Fund launches & raises
Barings hires DWS veteran to lead US wealth push
Brian Maute takes a newly created seat atop distribution across RIAs and family offices.
- Fund launches & raises
Sona prices Europe's first hybrid BSL-private credit CLO
The EUR 403.9m vehicle, arranged by Goldman Sachs, fuses syndicated and private credit collateral in one liability stack, giving direct lenders a new route to CLO funding.
- The Wrap
Partners Group monetizes Gong cha, funds $1bn Asia mandate
A 2019 sole-lender exit feeds a fresh $1 billion senior-and-junior Asia mandate while the core direct-lending market stays crowded; Park Square's selection-over-exposure pitch says the next vintage will separate the managers.
- Direct Lending
Partners Group exits Gong cha, adds $1bn Asia mandate
A 2019 sole-lender package realizes on Bain Capital's acquisition, and a fresh $1bn senior-and-junior mandate says the Asia bet is only moving.
1 story
- Direct Lending
Park Square's credit pitch is selection, not exposure
The pitch fits a crowded market; the next vintage will decide.
4 stories
- The Wrap
Software loans carried July BSL returns
When one sector supplies the month's tailwind, CLO investors should read concentration, not breadth.
- BDCs
The BDC tape cools as the reset gets priced
The weekly give-back is the common stock marking the direct-lending reset before the quarterly marks catch up.
- Direct Lending
LSTA's latest credit forms adjust the market's baseline
The trade group's revised templates are the default starting point for direct-lending documentation, and a short list of clarifications still moves the terms of the next wave of deals.
- Direct Lending
LSTA survey gives private credit a benchmark to live up to
The trade group's landmark survey promises a common measure of size and leverage; the release offers no figures and no commitment to repeat the work.
14 stories
- Distressed & restructurings
Distressed desks pivot from default waves to name-picking
A lower default count for 2025 is forcing distressed desks to swap macro-wave bets for the harder work of picking individual credits.
- The Wrap
Hayfin's CLO sale talks mark the reset wave's exit trade
The CLO reset wave is now producing platform sales and equity-layer secondaries as arbitrage compresses.
- BDCs
Second-quarter BDC earnings season closes with a split verdict
A miss, a match, and a stalled relief rally leave allocators a single-name map and a funding test for Q3.
- Who's investing
Colorado pension commits $20m to Aldine private capital fund
The oversubscribed SBIC close and the small pension check show where private credit formation still clears.
- Fund launches & raises
Neuberger prices $508M CLO at 120bp
Fresh-issue demand holds at the tight end as the reset wave rolls on.
- Direct Lending
Onex and Aristotle Pacific keep the CLO reset wave rolling
Two managers brought $756 million of CLO paper to market this week, extending a reset wave that now governs which private credit managers can keep their cost of capital low.
- The Wrap
Hayfin weighs sale of US CLO unit
The choice between a full US exit and a CLO-only sale will tell other platforms with marginal CLO books what their own are worth.
- BDCs
BlackRock TCP finds a liquidity valve in CLO equity
Creditflux reports the listed BDC is selling CLO equity instead of loans, giving the sector a cleaner exit that may become permanent.
- Fund launches & raises
Sona packs middle-market loans into a €400m European CLO
The rated vehicle puts private credit inside a broadly syndicated CLO, a structure other managers may adopt.
- Who's investing
Alternative Credit Investor launches members-only club for private credit allocators
The Allocators Club gives limited partners a private place to compare notes as allocators push into newer corners of private credit.
- The Wrap
Private credit's new frontier is the balance sheet
PGIM's GreenSky facility and Crestline's European fund are two versions of the same trade: financing asset pools, not corporate cash flows.
- Fund launches & raises
Domestic funds take 74% of India's shrinking private credit market
Domestic managers now command 74 percent of a smaller Indian private credit market, with global funds' share cut to 26 percent, per EY data reported by Alternative Credit Investor.
- Who's investing
Allocators push private-debt dollars toward Asia-Pacific
Spread premiums and diversification are pulling North American and Western European allocators into Asia-Pacific private debt, according to Private Debt Investor.
- Distressed & restructurings
Prospect of rising US defaults opens liability management avenues
Private Debt Investor's April 8 trend story sees higher US default expectations as an opening for liability management work.
8 stories
- Fund launches & raises
Private Debt Investor's outlook puts private debt ahead of other asset classes
The publication's October 2 outlook cites robust fundraising and strong returns, but the summary carries no figures and hedges its claim.
- The Wrap
NAIC and Moody's mark the perimeter of private credit's leverage
A fast-track Apollo ruling and Moody's concentration-limit analysis turn fund-level leverage into a regulated asset class.
- Direct Lending
Four managers price nearly $2bn of US CLO resets
Onex, KKR, Ares and Kennedy Lewis repriced seasoned vehicles, showing where private credit liability demand stands.
- Fund launches & raises
Crestline's second European capital solutions fund closes at $625m
Nearly 75 percent above Fund I, the final close points to allocator appetite for collateral-backed lending in Europe's lower middle market.
- Direct Lending
PGIM backs GreenSky with $3bn home improvement forward flow
The three-year facility puts PGIM's asset-based finance platform at the consumer end of the housing value chain.
- Direct Lending
Private credit secondary market gets two trading engines
Large unitranches and semi-liquid fund redemptions are driving early volume, even as Europe's take-off lags.
- Fund launches & raises
M&G puts special-situations credit inside an ELTIF
A retail wrapper for the niche Private Debt Investor calls the most attractive since the financial crisis.
- Distressed & restructurings
Moody's: CLO firebreak contains single-obligor risk
Moody's says CLO concentration limits are the wall a single borrower's exposure hits first.
5 stories
- BDCs
Saratoga's unsecured borrowing will test the BDC funding market
A mid-market BDC's hundreds of millions in unsecured paper will reveal how much demand the BDC funding market has left.
- Direct Lending
Eagle Point leads $1.3bn holdco loan in Anthropic data center financing
A CLO specialist's infrastructure team is taking holding-company risk inside Anthropic's $16bn Texas data center buildout.
- Direct Lending
New York Life, Invesco price CLOs at tighter end
Roughly $970 million of CLO paper cleared without forcing issuers to pay up.
- Direct Lending
NAIC fast-tracks Apollo securitization bond ruling
A fast-track NAIC review will decide whether insurers can book Apollo's AMAPS and APADS as bonds, setting the cost of insurance capital for private credit securitizations.
- Fund launches & raises
Ninety One closes $404m Africa credit fund
The final close adds capital to an emerging-market credit series that has deployed $1.4 billion.