Strategic buyers increasingly facilitate exits of private credit lenders—Morningstar
The ratings agency observes in a new report that private credit borrowers sold to strategic buyers are starting to drive a larger portion of its credit ratings discontinuations

Texas, San Francisco among systems disclosing tactical, specialty credit investments
TCDRS commits USD 400m to Silver Point, Gallatin Point funds; Ohio pensions commit to GoldenTree, TPG funds

Private credit vulnerable amid tightening financing conditions – Bank of England
The central bank is also keeping a close eye on AI-related companies’ increasing use of debt, including private credit

Silver Point hires Goldman MD for private credit origination
Michael Cote previously served as a managing director in Goldman Sachs’s leveraged finance business

Cahill’s private credit co-head joins Paul Hastings in New York
Peter Williams, who also has experience as a managing director at KKR, now joins Paul Hasting’s global finance platform

Exit requests decline for Blue Owl’s semi-liquid tech lending fund
The fund, which saw some the highest exit request levels last quarter, reported a modest decrease and management says investor sentiment has improved.

Blackstone to raise capital for new institutional IG private debt fund
The alternative asset management giant has launched its first institutional, commingled private fund focused on investment grade private debt investments

Phoenix and Texas Capital partner on direct lending perpetual nontraded BDC
The new Spurstone Credit fund is anchored by institutional investors and will launch in the third quarter

Ares leads USD 1.7bn direct lending deal backing private country club operator LBO
The large-cap direct lending deal comes at a time when both sponsors and direct lenders are showing more caution amid the uncertainty posed by fast artificial intelligence adoption and the Iran conflict

Apollo records USD 13bn in private credit trading volume
In the 18 months since launching a dedicated trading desk focused on Apollo-originated private credit, the firm has worked with more than 100 unique counter parties, according to a new report

King & Spalding adds former Proskauer partner in fund finance biz build out
The law firm has recruited Ron Franklin, who previously served as co-head of the corporate & fund finance group at Proskauer Rose

Non-US investors, family offices drove redemption requests at Ares private credit fund
The firm’s perpetual nontraded BDC once again offered to repurchase 5% of shares outstanding in the second quarter to facilitate exits but was met with excess demand

Canada's BCI to deploy CAD 10bn into IG private debt over three years
EXCLUSIVE: The Canadian institutional investor giant has set a CAD 10bn deployment target for the new investment-grade private debt strategy, a spokesperson told Creditflux.

Canadian giant BCI launches IG private credit strategy with CAD 1.8bn
British Columbia Investment Management Corp., an institutional investor with more than CAD 300bn, seeded the new strategy and is creating a dedicated team

LPs press pause on private credit allocations as demand cools—Coller
Fewer institutional investors plan to increase their private credit allocation targets over the next 12 months and some are worried about systemic risk, according to a survey conducted by Coller

Exit requests tick up at Morgan Stanley’s semi-liquid private debt fund
Share redemption requests at perpetual nontraded BDCs continue into the second quarter, with Morgan Stanley Investment Management being the latest to report a quarter-over-quarter increase in requests

Exit requests for Apollo’s semi-liquid direct lending fund increase to 16.8%
Share redemption requests at perpetual nontraded BDCs are continuing, as Apollo follows Blackstone and BlackRock HPS in reporting a quarter-over-quarter increase in the amount of investors seeking an exit

Hormuz disruption builds case for energy infrastructure investment, lenders and private capital maintain support
Hormuz disruption exposes fragility, drives urgent calls for energy infrastructure investment; banks and investors remain committed to financing energy and supply chain resilience

Colbeck raises initial USD 400m for new senior direct lending effort
The USD 400m was raised from third-party investors and will be used to invest in deals across North America and select international jurisdictions, a source familiar told Creditflux

Virginia, North Dakota among systems pursuing opportunistic, real estate credit
Ares Pathfinder III's fundraising from US public funds tops USD 1bn; North Dakota, Los Angeles commit to real estate debt funds

Canyon’s CIO says more distressed opportunities await
PODCAST: A looming maturity wall and problems in the software space point toward a return to more traditional distressed opportunities, says Jeff Kivitz, chief investment officer at Canyon Partners, on the latest episode of Credit Exchange with Lisa Lee

Private markets fundraising challenges to persist despite easing geopolitical concerns
LPs plan to maintain or increase deployments but more selectively; sanguine views on geopolitics suggest tailwind for China rebound

Private credit sidesteps LME fights as sponsors quietly cede control of struggling companies
2021-2022 buyout deals drive defaults; aggressive actions in BSL capital structures don't fly in private credit

Ares's latest Pathfinder fundraise exceeds cap by USD 1bn as demand shifts to ABF
EXCLUSIVE: The latest USD 8.5bn Pathfinder III fund, which closed in just six months, originally had a hard cap of USD 7.5bn, Ares told Creditflux

BXCI extends asset-backed lending origination with SablePointe platform launch
Blackstone Credit & Insurance has launched a new platform to expand its origination, underwriting and portfolio management capabilities in asset-backed lending