Growing private-equity, private-credit fund sizes threaten IRR—Texas TRS
EXCLUSIVE: The US pension giant told Creditflux that it wishes both private equity and private credit managers would raise smaller funds and focus on returns rather than AUM growth 

Around half of private credit originators use AI tools—Armentum
EXCLUSIVE: Nearly all of the 150 private credit managers surveyed by Armentum Partners this year said they use AI for research, and around 20% are specifically using AI tools as part of underwriting

Energy demand creates opportunities in EM private credit – Ninety One
The credit specialist remains “highly committed” to emerging market private credit as demand for energy grows

CLO equity and private credit offer comparable returns—Texas TRS
EXCLUSIVE: The US institutional investor giant approaches credit investments opportunistically and as it seeks to achieve a 7% return target for its overall portfolio, CIO Jase Auby told Creditflux

Barings raises more than USD 19bn for global direct lending strategy
The firm raised capital from institutional, insurance and private wealth investors globally

Citi, HPS strike EUR 15bn private debt program
BlackRock-owned HPS and Citi are working together to offer private capital solutions to sponsor-backed and corporate-owned borrowers

Temasek taps Pinegrove for venture debt partnership
The Singaporean state investment firm intends to lend directly to growth stage technology and life sciences companies

Golub shakes up leadership with co-CEOs, co-Presidents appointments
The alternative credit manager will have three co-presidents after promoting Spyro Alexopoulos and hiring two new executives

New SEC enforcement director puts private credit funds under the microscope
The US regulator is monitoring stresses in some portfolios as well as risks related to liquidity, valuations, conflicts of interest, and fees, the new enforcement chief said in a speech

New York, Connecticut among systems pursuing alternative credit strategies
NYSCRF allocates USD 450m to net-lease, GP stakes funds; San Diego, San Mateo pensions commit to asset-based finance funds

Antares raises USD 8.5bn for senior direct lending
The alternative credit manager held a final close for its third Senior Loan Fund after raising capital from new and existing investors

KKR to support FS KKR BDC with USD 300m via investment, tender offers
The listed business development company will focus on reducing leverage, repurchasing stock, and managing existing investments instead of deployment

Abry Private Debt acquires USD 330m private credit portfolio
Abry partnered with Coller Capital on the credit secondaries transaction

BlackRock TCP crystallises losses from restructurings, lowers nonaccruals
The listed business development company has been using sales, paydowns, and partial exits to strengthen the balance sheet, CEO Philip Tseng said on the earnings call

Bank loan growth driven by lending to private credit and other funds—S&P
Total loan growth in the US banking system was driven by lending to nonbank financial institutions like investment funds from 2024 to 2025, the ratings agency found

Hayfin names Goldman Sachs veteran as head of investments
Goldman Sachs veteran Michael Marsh has been hired to the newly created role

Mubadala leans into private credit despite negative headlines
Other panellists during the 2026 Milken Institute Global Conference also said they expect the asset class to grow and support companies’ capital expenditure needs

Private rating defaults hit record high – Fitch
The US private credit default rate increased to 5.7% in the trailing 12 months ending 1Q26, while the downgrade-to-upgrade ratio for Fitch’s privately monitored private credit ratings portfolio hit 6.3x in the first quarter, the highest level since the second quarter of 2023

Brookfield-backed Primary Wave raises USD 2.2bn for music royalties fund
Brookfield Asset Management, which holds a minority stake in the firm, contributed to the latest fundraising effort, a source familiar told Creditflux

Lazard to acquire Campbell Lutyens in private funds push
The USD 575m acquisition will create a third global division known as “Lazard CL” that will focus on fund placement, advisory on fund secondaries and GP capital advisory

Silver Rock Capital Partners corrals USD 4bn for private capital solutions strategy
The firm closed on more than USD 4bn for its latest Tactical Allocation Strategy vintage, which will invest in private corporate and real-asset debt across the credit cycle

Investors should stay the course on private credit even amid valuation uncertainties—Mariner
EXCLUSIVE: Institutional investors can generally ride out any market bumpiness, and these internal marks do not necessarily reflect final returns, head of Mariner Institutional Mike Welker said 

NAV lending concerns abate, borrowing costs decline – survey
Survey respondents in the Haynes Boones fund financing report said pricing for net-asset-value loans and subscription lines has come down in 2025 compared to 2024 

Apogem reprices 2019-vintage private credit CLO for third time
Apogem Capital has repriced a 2019-vintage private credit CLO for the third time, with the USD 348m reset coming two years after the CLO was last reset in March 2024

Washington, Louisiana systems approve large distressed debt commitments
WSIB approves USD 300m for Monarch's latest distressed debt fund; TRSL allots USD 150m to Centerbridge distressed, mezzanine debt funds