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 

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

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

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

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

TPG Credit raises USD 6.2bn for all-weather, special sits strategy
The latest fund exceeded the USD 4.5bn target by nearly 40%, the company said

Allianz GI raises EUR 1.2bn to fund private debt secondaries
The sophomore fund held a first close and will pursue private debt secondaries deals globally

Oklahoma system allocates USD 1.3bn as others set 2026 targets
OTRS commits USD 1.3bn to Blackstone, KKR private credit funds, while Los Angeles, New Hampshire, San Antonio pensions disclose recent moves

Eldridge, Arctos tapped to manage sports and media fund for affluent investors
Registered investment advisor CAIS Advisors has selected the two managers for a new private markets fund that will become available to investors in January

Bain special situations, SMBC launch European lending joint venture
The two will provide up to EUR 1.5bn in senior secured debt to borrowers across the UK and Europe in a flexible strategy

Opacity and falling returns create pessimism around private credit – Morningstar
EXCLUSIVE: Morningstar’s Dan Kemp warns of too much money chasing too few opportunities, and urges investor caution in private credit

AI capex set to expand at unprecedented speed and scale – BlackRock
The 2026 outlook from the BlackRock Investment Institute notes that capital spending ambitions tied to the buildout of the artificial intelligence boom are so large that the micro is becoming macro