BNP Paribas taps alts head for combined BNP, AXA IM group
Isabelle Scemama will oversee more than EUR 300bn in assets as the two groups merge

Blackstone inks new private credit partnership with L&G
PRECIS: The partnership will see L&G gain access to IG private credit assets and the two firms create new public-private credit products.  

Carlyle rolls out investment grade private debt fund
EXCLUSIVE: The IG asset-backed fund is structured as an evergreen vehicle and targets an institutional investor base

ESG in private credit continues in the US, but not without significant difficulties
CalPERS still sees environmental, social and governance factors as a vital part of private credit-related due diligence, despite challenges around ESG backlash, standardisation and data availability

Feeling positive about European private credit
Government plans for growth and banks’ lending strategies were among the topics creating an upbeat mood among attendees at this year’s Debtwire Private Credit Forum Europe in London

Default expectations rise as tariff threats to North America deepen – IACPM survey
Credit portfolio managers across the world see tariff-related headwinds for both the US and Canada

Virginia, New Mexico among pension systems making new private credit commitments
Virginia Retirement System allocates USD 500m under credit strategies portfolio, while New Mexico State Investment Council allocates USD 250m to Fortress Investment Group and Indiana Public Retirement System commits USD 200m to HPS

Coller completes record private credit secondaries fundraise
The USD 6.8bn final close for the Coller Credit Opportunities II fund marks the largest fundraise to date for a private credit secondaries platform

Kartesia completes EUR 1.3bn fund close; almost half raised from new investors
KCO VI also saw “significant growth” in commitments from private wealth investors, which accounted for more than 20% of the fund’s total capital

The ‘real economy’ of Europe needs financing – Arini’s Mathew Cestar
“We know there’s a big pan-European need for financing,” says Mathew Cestar, president of Arini, one of the fastest growing alternative credit managers, on the latest edition of the Credit Exchange podcast with Lisa Lee

FS Investments readies opportunistic credit fund, targets USD 750m
EXCLUSIVE: The vehicle, which will be the second opportunistic fund from FS, is set to launch in the third quarter of this year

Canadian giant PSP to deploy CAD 6bn to IG private credit
EXCLUSIVE: The allocation will focus on investment grade opportunities across infrastructure, asset-backed and structured debt financing

Paradigm shift in US economy lessens likelihood of tariff-induced recession – Sound Point’s Stephen Ketchum
The founder and CEO of Sound Point Capital Management told Creditflux managing editor Lisa Lee on the latest edition of the ‘Credit Exchange’ podcast that he currently sees credit markets as being in a state of “reasonable balance”

PGIM shakes up credit platforms in major reorganization
The reorganization eliminates the separation between PGIM Private Capital and PGIM Fixed Income. The insurer-led firm appointed a single head of public and private fixed income  

Not everything in private credit is rosy – Goldman Sachs’ James Reynolds
The firm's global co-head of private credit spoke to Creditflux managing editor Lisa Lee at the Debtwire Private Credit Forum Europe in London

CalPERS rolls out ESG due diligence for private debt investments
The California pension giant also has an investment mandate specific to battling climate change

Ares launches direct lending fund for European wealth investors
The firm’s first ELTIF product will give individual investors access to its existing European direct lending strategy

Defaults could rise for private ARR loans during the next two years—KBRA
Borrowers of annual recurring revenue loans, typically software companies, have so far outpaced other industries in terms of growth

CPP Investments backs Varde’s subline strategy launch
The Canadian pension giant provided USD 300m of strategic equity toward the new fund finance platform

Blackstone hires ex-Lazard co-head of US financial institutions
Joseph Cassanelli will work on the team behind Blackstone’s Tactical Opportunities strategy, which allows Blackstone to invest across asset classes, industries and geographies

Turning Rock hires head of credit
The new head of credit joins from Z Capital Group, where he oversaw both funds and CLOs

Allianz GI eliminates role after head of direct lending exit
Nadia Nikolova leaves after spending 11 years working for the asset management arm of insurer Allianz; team will now report to CIO for private credit  

US pensions' push into European private credit involves local expertise pursuit, mid-market strategy differentiation
The European credit market is expected to benefit from recent fiscal stimulus announcements and lower primary tariff impact, while mid-sized managers are likely to see growing demand for differentiated strategies

Public ABS volatility creates opportunity for Citi, Carlyle ABF partnership
By backing fintech specialty lending businesses, Carlyle will gain access to their portfolio of alternative collateral, Carlyle’s head of ABF told Creditflux

Investors opt for debt as alternative to secondary sales to generate liquidity
Investors are increasingly seeking financing as an alternative to selling their fund stakes on the secondaries market