US public pensions seek ABL, Europe, and fee savings in private credit – Year in Review
Public pensions increasingly seek co-investments, custom accounts; Asset-based lending, specialty finance strategies gain traction from Debtwire Municipals

Expect direct lending performance dispersion in 2026 – Antares
EXCLUSIVE: Managers that maintain underwriting discipline and active portfolio management will be able to differentiate themselves, the firm's co-head of originations Doug Cannaliato told Creditflux

Blackstone-backed ASK Alternates closes first private credit fund in India
ASK Private Credit was oversubscribed with USD 63m raised, following strong demand from India’s wealth market investors

South Carolina, Texas among systems disclosing recent credit allocations
Ares Pathfinder Fund III to launch in 1Q26 with USD 5bn target, while South Carolina system allocates USD 550m to two managers and Illinois and Montana systems commit USD 150m across various funds

US private credit defaults rose to 5.7% in November - Fitch
Fitch recorded 13 default events in November – more than half the monthly average in the year to date

KKR confirms lack of exposure to First Brands, rejects concerns about cracks in private credit
In a new investment insight, KKR’s Daniel Pietrzak said that the failure of First Brands and Tricolor does not indicate cracks in private credit 

Mid-market CLO rankings – November 2025
Golub continues to comfortably lead the mid-market manager rankings in our November update, but three managers are within one percentage point as the fight hots up for second place

Giant deals, fundraising beyond US direct lending dominate 2025
While unpredictable tariff policies introduced volatility into public credit markets, direct lenders stepped up in 2025

Antares leaves it late to price first new private credit CLO of the year
As CLO managers start to wind down for the year, Antares has priced its first new mid-market issue of 2025, teaming with Bank of America to issue Antares CLO 2025-1

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

Private credit managers throw open warehouses for cash-strapped PE firms
Private credit managers are breaking new ground by extending warehouse lines to cash-starved private equity firms desperate to win deals

Blue Owl’s unwise BDC merger rekindles liquidity risk worries
A bungled attempt by Blue Owl to merge two of its credit funds highlights the risks wealthy investors in non-listed debt vehicles run in trading off the promise of consistent returns for limited liquidity

Can funds find pots of gold in Europe?
For years, US private credit has been tapping high net worth individuals. Now funds are trying to do the same in Europe — but markets across the pond are fragmented and heavily regulated

How direct lending took off in Europe
In the second of our two-part history, we look at the evolution of direct lending in the UK, the sector’s expansion to other parts of Europe, and its growth into a dominant asset class

CLO equity has an 11-year track record of consistent mid-to-high teen returns
Distributions by MM CLOs are based on underlying loan performance, not market sentiment

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

Pathlight secures USD 1.9bn for asset-based lending
The firm held a final close for its fourth fund and raised capital via its parallel evergreen fund

Private credit to fuel growth of hyperscalers – BofA
BofA Global Research rejects ‘dotcom bubble’ concerns and predicts private capital will help today’s hyperscalers keep growing

US senator slams regulators’ hands-off approach to bank, private credit oversight
In a new letter, Senator Elizabeth Warren accused Scott Bessent, US Secretary of the Treasury and Chair of the Financial Stability Oversight Council, of sabotaging the FSOC’s authorities and pushing deregulation

OHA raises USD 17.7bn for large-cap, senior direct lending
The firm held a final close for its OHA Senior Private Lending Fund (OLEND), which raised USD 8bn in equity commitments

CAPZA raises EUR 1bn for senior direct lending strategy
The latest fund is already 60% deployed, and CAPZA is planning to launch the next vintage in the series in 2026

Lev loan guidance shift will challenge private credit CLOs, bring more new loan supply – Shenkman
EXCLUSIVE: Regulators rolling back restrictive guidance around leveraged lending could help traditional bank lenders claw back market share from US direct lenders

Individuals account for nearly a quarter of private credit investor base – Alternative Credit Council
The global private credit market grew to around USD 3.5tn in assets at the end of 2024, according to a new report from the Alternative Credit Council and Houlihan Lokey 

Alternative assets come for investors across the wealth spectrum – CAIS, Mercer survey
Meanwhile, private equity replaced private debt as the most popular asset class among surveyed financial advisors

TD Asset Management steps into private credit, launching new fund
The Canadian asset manager has added origination staff and is collaborating with investment banking division TD Securities Inc for direct lending origination