CalPERS rolls out ESG due diligence for private debt investments
The California pension giant also has an investment mandate specific to battling climate change.  

BCI anchors Arini’s debut private credit fund with USD 200m
In addition to backing the new European direct lending fund, the institutional investor giant plans to deploy more than USD 400m in related co-investments

Ares launches direct lending fund for European wealth investors
The firm’s first ELTIF product will give individual investors access to its existing European direct lending strategy

Direct lenders agree to PIK as borrowers feel tariff pressure
Borrowers are facing stress and asking direct lenders for the option to use payments-in-kind instead of cash for interest payments, leading to debate over whether PIK use aids recovery or simply obscures financial stress

Clearlake seals largest new direct lending deal for Dun & Bradstreet
Ares leads deal, taking USD 1.5bn; Morgan Stanley, Clearlake Capital Markets, Golub and Blue Owl also helped arrange the largest new unitranche ever

Clearlake, direct lenders plan to ink USD 5bn private credit loan for Dun & Bradstreet
EXCLUSIVE: A group of direct lenders led by Ares are wrapping up a USD 5bn term loan and USD 500m revolver, prepping to sign commitment documents within hours

Kayne Anderson raises more than USD 2bn for middle market direct lending
EXCLUSIVE: The firm plans to hold a final close for Kayne Anderson Senior Credit Fund V at the end of the year

Tariff pressures stir PIK fears in private credit
As the US economy flashes warning signs amid President Trump’s push for higher tariffs, any pain in the direct lending market will likely appear in the increased use of payment-in-kind interest, market participants say

Crestline raises USD 3.5bn for sponsor and nonsponsor-backed direct lending
The firm held a final close for its Crestline Direct Lending Fund IV

JPMorgan’s asset management arm seeks to raise direct lending fund
EXCLUSIVE: The asset management unit is raising capital from institutional investors for direct lending as the bank steps up lending from its balance sheet.

Pemberton raises EUR 6.1bn for senior direct lending funds
The asset manager held a final close for Mid-Market Debt Fund IV and Senior Loan Fund II

Direct lenders ‘cruise,’ but watch for tariff impact
Private credit managers, investors of all types and service providers gathered in Nashville for DealCatalyst’s annual private credit conference

Direct lending competition ramps up, even in middle market and small cap
Proprietary deal flow is increasingly rare, Barings President Matthew Freund said on a panel during DealCatalyst’s conference in Nashville

Clearlake set to seal private credit loan to replace risky Dun & Bradstreet financing
EXCLUSIVE: Ares leads USD 5bn unitranche loan with JPMorgan among expected lenders that will replace original 364-day financing

Uncertainty challenges credit underwriting but deal making continues
Panelists at the annual Milken Institute Global Conference this week said the environment is more favorable than many initially expected post 2 April

KKR, Capital Group expand partnership with plans for public-private market product
The private market specialist is joining forces with a traditional asset manager to better reach individual investors

Private credit funds, partner banks present risks as global growth slows—IMF
Private credit funds and their partner banks can face losses as a slowing economy will challenge borrowers’ ability to repay loans

JPMorgan enters private credit big leagues with USD 4bn Boeing unit financing
EXCLUSIVE: The bank takes down the third-largest piece of the giant unitranche, lending shoulder-to-shoulder with direct-lending giants

Cliffwater aims for more than USD 10bn in private credit co-investments
EXCLUSIVE: The firm, which now oversees nearly USD 28bn in its private credit interval fund, says it's found "an abundance" of co-investment opportunities

M&G expands direct lending origination team with new hire in the Netherlands
M&G Investments is expanding its direct lending team with the appointment of Gijs Boumans in a newly created role, based in Amsterdam

26North hires direct lending MD from H.I.G. Capital
The new managing director previously spent more than 3 years working for H.I.G. Capital

Squire Patton Boggs hires global head of private credit and direct lending
The newly created position is being filled by a former partner at Polsinelli

TPG, Temasek take minority stake in private credit interval fund pioneer Cliffwater
Cliffwater has nearly USD 28bn in its flagship private credit interval fund, the largest in the US

Private credit spreads widen, talks pivot to dividend deals
ANALYSIS: Private corporate credit lenders are starting to push for higher spreds amid volatility in the leveraged loan market, and talks switch to dividend deals from buyout financing

Upstart direct lender Corinthia nabs Golub US managing director
EXCLUSIVE: Direct lender entrant Corinthia Global Management has hired Paul Armsby, most recently at Golub Capital, according to his LinkedIn post, as the firm ramps up deployment.