BDT & MSD launches senior direct lending fund
The new fund comes after the firm hired Goldman Sachs Asset Management’s former global head of private credit earlier this year

New York State Common Retirement Fund commits USD 200m to Oak Hill's CLO fund
The pension fund has committed the funds to OHA CLO Equity Fund III, which will target investments in North America and Europe

Blackstone raises USD 1.6bn for new high-yield ABF strategy
The alternative asset management giant is targeting USD 4bn for its new high yield, private-asset-based finance fund

Oaktree raises USD 2.35bn for insurer-friendly evergreen direct lending fund
The fund, designed for institutional investors, will follow a senior direct lending strategy and focus on the middle market

BoE to update on private credit stress test before Christmas
EXCLUSIVE: An exploratory scenario test for private credit is in the works, following risk warnings from Governor Andrew Bailey

LPs seek cyclical private credit play amid US economic uncertainty
Many LPs pivoted to all-weather private credit strategies in recent years, but interest in more opportunistic and special-sits strategies reliant on a credit downturn are picking up once more

Tikehau surpasses target on private credit secondaries fundraise
EXCLUSIVE: The latest fund, which has yet to close, has already racked up more than USD 750m

Investors fear SonicWall under attack by naked short seller
EXCLUSIVE: Term loan price declining sharply since September, with some trades unsettled for up to eight months;potential party who is shorting now needs to purchase loan to settle trades

Africa-focused alternative asset manager Enko Capital completes first close for flagship fund
The fund seeks to address the structural credit gap facing mid-sized African firms and to demonstrate the commercial potential of private credit on the continent

Corporate Europe kicks on with ECM, M&A plans as US market fears grow
Best year for European corporate equity capital markets and M&A since 2021, but storm clouds forming in US AI valuations and private credit

Expect more corporations to default – JPMorgan head of global credit financing Jake Pollack
“The idea that default rates will go up over time is not particularly difficult to get to,” says Jake Pollack, head of global credit financing and North America credit trading at JPMorgan, on the latest Credit Exchange podcast with Lisa Lee

Private credit's public pivot – crisis play or permanent shift?
Participants see model evolving from crisis response to structural strategy, as pricing gaps, disclosure rules and mindset barriers still hold asset class back

“People overvalue liquidity” – Oak Hill Advisors
Individual investors end up taking on riskier investments like public equities rather than alternatives like private credit because of the liquidity profile, founder and CEO Glenn August said on a panel

Private fund CFOs ape CLOs to give investors access to diversified alternative assets
One sort of CFO, the chief financial officer, needs no introduction. The second type of CFO, the collateralised fund obligation, is less well-known, but is growing fast

Private credit managers seek a toehold in financial advisors’ model investment portfolios
The model portfolio, with pre-selected managers and asset class exposures, has become a convenient way for investors to access public asset classes through mutual funds and ETFs in a single package

IMF sounds alarm on bank exposure to private credit
A new IMF report found that the growing appeal of non-bank financial institutions, such as private credit funds, poses a risk to global financial stability

Private credit incentivized to seek more protection than BSL
With the First Brands fallout still in the headlines, private credit managers sought to differentiate themselves from the banks that underwrote the troubled auto lender

First Brands bankruptcy seems to be a problem separate from private credit - Blue Owl
CEO Marc Lipschultz is not seeing an uptick in private credit defaults and says concerns around the asset class are misplaced

Asia private credit revisits fixed-rate loan option – Muzinich
With expectations that interest rates will decline, private credit managers in Asia are looking to switch back to making fixed-rate loans

Private credit adds 2% additional yield for North American insurers
S&P Global predicts growth in insurance allocations towards private credit as the asset class delivers extra yield

Värde appoints head of ABF, hires ex-KKR MD
The appointments come as the firm looks to expand in the asset-based finance sub-sector of private credit

There’s tremendous fragility in the system – PGIM’s co-CIO Greg Peters
PODCAST: “Underneath is a lot of volatility. Companies are struggling. You’re seeing really wide dispersion,” says Greg Peters, co-chief investment officer at PGIM Fixed Income, on the latest episode of Credit Exchange with Lisa Lee

Runway to acquire healthcare-focused specialty finance company
The acquisition is part of the firm’s push to grow its platform through organic and inorganic means

Mizuho taps head of sponsor coverage and levfin for EMEA
The bank named Waqaas Lone to the role and also appointed a deputy head of sponsor coverage and leveraged finance for the region

HarbourVest taps leaders for new credit secondaries team
The announcement comes after the firm launched its first dedicated credit secondaries fund