Tikehau looks to develop Asia direct lending product via JV
The French alternative asset manager has struck a joint venture with Amova Asset Management, formerly known as Nikko Asset Management, to solidify its presence in Asia

Exit requests surpass 40% at Blue Owl’s semi-liquid, technology lending fund
The private credit fund designed for individual investors saw quarterly redemption requests surge, leading the fund to impose its 5% exit cap

Private credit community pushes back on alarmist narratives
Executives downplay AI risks, citing preparedness and strong credit fundamentals; Defaults and recoveries remain stable, despite negative headlines

17Capital raises USD 7.5bn for dedicated NAV lending fund
The alternative credit firm held a final close for 17Capital Credit Fund 2, which will donate some of the earned carried interest to a nonprofit organization

Maturity wall threatens high-risk AI private credit names – KBRA
Direct lenders are showing an unwillingness to extend maturities for companies that are vulnerable to artificial intelligence or underperforming already 

Oaktree’s semi-liquid private credit fund covers all exit requests totaling 8.5%
The fund, which leaned on parent company Brookfield to cover the surge in redemption requests, also cut dividends

JPMorgan Asset Management mixes public, private credit in new semi-liquid fund
JPMorgan’s asset management arm offers exposure to various credit investments across the public and private markets in a new interval fund for affluent individuals

European direct lending opportunity grows as US faces headwinds—AlbaCore
EXCLUSIVE: Outflows from select US direct lending vehicles could result in European direct lending spreads, particularly on larger deals, widening even further, Luke Gillam, head of senior direct lending, told Creditflux

Michigan, New Mexico make large bets on asset-based credit strategies
Michigan SIB commits USD 800m to Apollo, LGT credit funds; New Mexico SIC allocates USD 400m for Ares, Pemberton funds

Exit requests for Apollo, Ares private debt funds top double digits
Both of the semi-liquid, perpetual nontraded BDCs chose to cap share repurchases at the originally offered 5% limit, forcing many investors to wait another quarter for a full exit

Majority of LPs expect to mix public and private credit despite liquidity challenges – BSP survey
Within the next five years, 59% of global institutional investors expect to take an integrated approach to public and private credit investments, new research from Benefit Street Partners shows 

FoxPath to launch rated note feeder fund with backing from RGA
EXCLUSIVE: The new rated note feeder fund will invest in the firm’s debut private credit secondaries fund

New York, Texas among systems making opportunistic, real estate credit allocations
NYSCRF allocates USD 550m to Apollo, Kennedy Lewis; TCDRS commits USD 150m to Blue Owl real estate fund

Trinity strikes first-out lending JV targeting US lower middle market
Trinity Capital is partnering with another listed BDC, Capital Southwest Corporation, on the 50-50 joint venture

Cash-poor LPs find side door to Carlyle’s new buyout fund
The alternative asset manager is offering select institutional investors an alternative to committing new cash to its upcoming private equity fund

Morgan Stanley caps semi-liquid private credit fund redemptions at 5% limit
Investors rushing to exit the perpetual nontraded BDC will get less than half of their money back. Redemption requests surged to approximately 10.9% this quarter, an investor letter shows

JPMorgan cuts back lending to private credit funds after loan markdowns
The pullback comes after the bank marked down the value of certain loans held by private credit funds that served as collateral

Eagle Point raises USD 559m to lend to credit funds
The Eagle Point Defensive Income Fund III exceeds the initial USD 500m hard cap

Citi announces debt capital markets co-heads, including a hire from BofA
The new co-heads will fill the open spot left by head of global debt capital markets Rich Zogheb, who is retiring after 40 years in the industry

CalPERS, CalSTRS disclose large commitments to Blackstone credit vehicles
CalPERS invests USD 5.75bn in 3Q25 across seven vehicles; CalSTRS, LACERA reveal allocations totalling USD 750m each

Blue Owl takes a hit as ‘retail investors may favor headlines over reality’ – Morningstar DBRS
Offering private market products to retail investors can result in reputational damage even when the terms of the product are respected, the ratings agency wrote

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

Maine, New Mexico systems eye large bets in senior direct lending
Maine PERS plans USD 375m for Blackstone funds; New Mexico SIC allocates USD 300m to Neuberger Berman; LADWP, Ventura County pensions also disclose recent moves

Blue Owl saw strong demand for USD 1.4bn of direct loans sold to investors
Blue Owl expanded the number of BDCs that sold private credit positions, including internet and software loans, to North American institutional investors at 99.7% of par value 

Inflows for nontraded BDCs slow while redemptions rise – Fitch
The negative investor sentiment seen last year for listed BDCs now hits perpetual, non-traded BDCs