Volatility spikes and deal spreads widen amid Middle East conflict in Europe
V-Stoxx increases to 24 from 20; Travel companies among worst hit

AI’s potential may be underestimated despite investing concerns – Howard Marks
AI’s potential is likely underestimated, but worries about job losses and an AI investment bubble persist, said Oaktree co-founder Howard Marks in a new memo

Europe's nationally focused M&A law firms see opportunities amid transatlantic tensions
ANALYSIS: Nationally focused law firms emphasise trust, privacy, tailored advice; super-boutique Slaughter & May continues with 'Best Friends' on the Continent

Unitranche deals take off in Europe, setting new record – Houlihan
The European private credit market completed 570 unitranche deals in 2025, marking an all-time high since Houlihan Lokey started publishing its quarterly report

Arcmont closes second capital solutions fund with EUR 1.5bn raised
The second iteration of the private credit firm’s capital solutions fund is almost double the size of its predecessor

KKR’s co-head of credit says ‘it’s adult swim only’ in markets
PODCAST: Christopher Sheldon, co-head of credit and capital markets at KKR, tells Lisa Lee on the latest episode of Credit Exchange that 2026 is set to be defined by avoiding mistakes rather than picking winners, with elevated defaults and downgrades resulting in a challenging investing environment

Tikehau not for sale, 'we see ourselves more as a consolidator' – co-founder
Tikehau co-founder Antoine Flamarion has said the firm sees itself as a consolidator of businesses and has no intention of selling itself to a larger US asset manager

Tikehau raises more than USD 1bn for private credit secondaries
This sophomore fund doubled the size of its predecessor and closed above target

Lending giants invade lower mid-market in search of deals – Private Credit Comment
Smaller debt funds face increased competition from larger lenders; normalisation hinges on more M&A volumes or issues in syndicated markets

Securitisation market pushes back on key elements of Commission reform
European Parliament rapporteur moots industry-friendly changes to proposals; respondents bristle at definitions of ‘public’ securitisations

Schroders, InPost deals boost 2026 takeover pipeline by EUR 19bn
InPost agrees EUR 7.8bn deal with Advent, FedEx; modest premium for Schroders may open for rivals

Group.ONE TLB and Cision loan fall on continued AI selloff
Market Comment: Software leveraged loans are under pressure on continued AI fears

Arini President Mathew Cestar says Europe’s missing AI boom provides opportunities
PODCAST: Europe has mostly missed the AI boom that’s driven a large part of US economic growth – but that actually makes European credit more appealing, according to the head of the alternative asset manager

Oaktree expands UCITS offerings for EMEA, APAC, and LATAM investors
The Oaktree Global Credit Select Fund is intended to address demand across the regions for regulated, daily-liquidity investment offerings

PGIM boosts high-yield expertise with two new hires for Euro levfin team
Sunita Kara and Andre Klotz join as portfolio managers from Aviva Investors and Jefferies, respectively

Fund performance – December 2025
All categories end 2025 positively as Pictet Alt takes 12-month crown

Credit funds at a glance – December 2025
Our roundup of top performers, fundraising and moves in credit

Credit hedge funds – December 2025
Credit hedge fund performance

Apollo partners with Schroders on public-private credit
The two will launch a US collective investment trust in the second quarter for 401k defined contribution investors and create new products for UK wealth clients

Private credit makes its pitch to private wealth at IPEM
Private credit fundraising up 20%, European funds gain on US uncertainty; evergreen products emerge to tap private wealth despite liquidity and valuation challenges

Ares plans to raise a USD 6.6bn alternative credit fund in just six months
The alternative asset manager also said on its fourth quarter earnings call that it is preparing a final close for its latest opportunistic credit fund

Pantheon backs Eurazeo in EUR 480m private debt secondaries deal
Eurazeo announced it has closed a continuation vehicle, allowing some LPs to liquidate their shares early

Prepare for a swift credit pullback when the bullish run ends – Deutsche Bank
The likely new US Federal Reserve chair may be more hawkish, and the progress made in artificial intelligence could disrupt credits in the software sector, DB analysts warn

London leveraged finance leaders turn out for melanoma fight
The British Museum played host to the second edition of Leveraged Finance Fights Melanoma (LFFM) London on Wednesday evening, with some 700 attendees from 90 firms across the leveraged finance and private equity helping raise over GBP 1.6m for melanoma research

LBP AM raises EUR 500m for infra debt backing climate change fight
The European alternative investment firm will use the latest debt fund to invest in low-carbon or de-carbonizing infrastructure