CLO platform M&A sees green shoots
ANALYSIS: CVC’s recent agreement to acquire Marathon Asset Management in a deal that sees the top European CLO player double-down on its US CLO presence may prove the start of trend 

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

Janus Henderson European ETF platform exceeds USD 1bn as it expands UCITS ETF range
The launch of the US Short Duration High Yield Active Core UCITS ETF follows a period of significant growth, with the European ETF platform surpassing USD 1bn in assets and the global ETF platform exceeding USD 40bn

CLO manager rankings by AUM – FY 2025
Blackstone once again ended the year on top, but Apollo broke through to secure the second spot

We’re looking at a multi-year M&A uptick – Morgan Stanley head of private credit and equity David Miller
PODCAST: Speaking on the latest episode of Credit Exchange with Lisa Lee, Miller highlighted the impact of the large amount of fundraising and deployment that occurred in the 2020-2022 period as significant for his positive outlook

Cadwalader eyes CLO comeback post-merger
EXCLUSIVE: Cadwalader confirms plans to remain in the CLO business, and hopes to expand its client offering after the Hogan Lovells merger

CVC enhances US credit offering with Marathon acquisition
CVC Credit has extended its reach in the asset based, real estate, opportunistic and public credit markets by acquiring US credit manager Marathon Asset Management

Alcentra adopts BSP brand, winds down direct lending biz
The Franklin Templeton-owned credit shops have also created a new global executive committee that brings together leaders from BSP, Alcentra and the newly acquired European lower middle market lender Apera

M&A dealmaker denial over world’s ‘morbid symptoms’ risks rude awakening – Continental Drift
OPINION: Deal bullishness rules as geopolitical rupture rocks Western world; Carney draws line under old world order with Davos intervention, as inflation, consumer weakness and credit signals point to shaky reality

EQT targets secondaries expansion with Coller Capital acquisition
The Swedish private equity firm has acquired credit secondaries specialist Coller Capital in a deal worth USD 3.2b

Private credit investors chase higher risk-return—Campbell Lutyens
A new survey shows investors are seeking higher returning strategies amid expectations of lower rates, while also turning away from the dominant North American market

PGIM rolls out private credit secondaries platform
The asset manager will deploy up to USD 1bn into private credit secondaries over the next two years

2026 kicks off with a lot of thunder and not much lightning
ANALYSIS: A lot of noise around geopolitics, Fed interference and market volatility has had little effect on the global CLO market, for now  

Pemberton reorganizes, appoints new private credit leaders
The firm’s chief credit officer is leaving at the end of March, the company said

Announcing the 2026 Creditflux CLO Symposium – April 20-21, London
Save the date for the 18th Creditflux Symposium at a new exciting venue at The Chancery Rosewood in Mayfair, London

US and European CLO markets to diverge amid volatility concern
EXCLUSIVE: High investor demand and strong technicals will protect the European CLO market from volatility

CLO industry in push to increase use of AI in 2026
ANALYSIS: Investors are already using AI to evaluate managers and CLO documentation

Key theme for 2026 will be growth in the loan market – Eagle Point founder Tom Majewski

Growth in the loan market will be an important market driver this year, the founder of Eagle Point Credit Management says on the latest episode of Credit Exchange with Lisa Lee; also shares Eagle Point ressearch that shows LMEs at 2% per year on top of default rates

London calling
For the final issue of 2025, the Creditflux magazine casts its eye toward London, the capital of European private credit, and looks at how the asset class took shape in the UK and elsewhere in Europe

‘In 2026 we will see data-centre term loans’
2026 outlook with Lauren Basmadjian, global head of liquid credit at Carlyle

Credit funds take aim at clubs and many other sports assets
Sports investing is no longer just a hobby for well-heeled executives. Private credit funds are providing debt and taking minority equity positions in deals a world away from the major US leagues, with examples including English football teams, sailing competitions, sports equipment firms, sports-related media and more

News in brief
Private credit firms brace for Bank of England’s 2026 stress test, data centre development dwarfs all other infrastructure spending, and operators tap securitisation deals to fund Europe’s data centre boom

BSL markets again demonstrated their fundamental resilience
In 2025, CLO issuance remained strong, despite LMEs, defaults and tariffs. Next year should be similar, if managers don’t become complacent

Huge lending from banks to private credit could cause systemic problems
There is little evidence of ‘cockroaches’ in credit. But in one sector, problems may just be hidden