New Mexico, Los Angeles systems make tactical credit allocations
New Mexico re-ups USD 550m for Silver Rock's tactical allocation strategy; Los Angeles pension commits USD 80m to Hayfin's European credit fund

ECB warns of private credit cross-border risks, opacity
Private credit in isolation poses limited risks to financial stability, but the European Central Bank says it is still concerned about spillover

Growing private-equity, private-credit fund sizes threaten IRR—Texas TRS
EXCLUSIVE: The US pension giant told Creditflux that it wishes both private equity and private credit managers would raise smaller funds and focus on returns rather than AUM growth 

Goldman’s global co-head of private credit says dispersion in performance is increasing
PODCAST: Speaking with Lisa Lee on the latest episode of the Credit Exchange podcast, Goldman Sachs’ global co-head of private credit James Reynolds says LPs are currently flocking to quality and scale

Around half of private credit originators use AI tools—Armentum
EXCLUSIVE: Nearly all of the 150 private credit managers surveyed by Armentum Partners this year said they use AI for research, and around 20% are specifically using AI tools as part of underwriting

StepStone, Hamilton Lane reject criticism of secondaries valuation methods
Day one markups of secondaries seen as unsuitable for evergreens; managers claim returns driven by asset appreciation, not markups

Florida, Montana among systems pushing recent direct lending mandates
Florida SBA commits USD 550m to StepStone vehicles in 1Q26; Montana, San Francisco also disclose direct lending allocations

Mercer appoints head of North American private debt
The investment consultant also named a head of North American infrastructure and head of Americas real estate

Energy demand creates opportunities in EM private credit – Ninety One
The credit specialist remains “highly committed” to emerging market private credit as demand for energy grows

AllianceBernstein, Brookfield, and Carlyle to offer private markets products for retirement plans
The three firms will offer a turnkey private markets product for retirement savers

Barings raises more than USD 19bn for global direct lending strategy
The firm raised capital from institutional, insurance and private wealth investors globally

Citi, HPS strike EUR 15bn private debt program
BlackRock-owned HPS and Citi are working together to offer private capital solutions to sponsor-backed and corporate-owned borrowers

Oaktree’s deputy CIO of strategic credit says we’re in the early innings of private credit dislocation
Oaktree has been very opportunistic about deployment in cycles or dislocations, which the market may be in the early stages of, says Milwood Hobbs, Jr., deputy chief investment officer of the firm’s strategic credit platform, on the latest episode of the Credit Exchange podcast with Lisa Lee

Goldman Sachs is selling USD1bn of private credit loans bought from Apollo
EXCLUSIVE: The banking division has been in the process of selling a portfolio of loans acquired from Apollo

Temasek taps Pinegrove for venture debt partnership
The Singaporean state investment firm intends to lend directly to growth stage technology and life sciences companies

European credit spreads remain resilient — BlackRock
Healthy fundamentals and low default risk means that European credit spreads are showing resilience, at least for now, according to BlackRock’s latest fixed-income outlook

Golub shakes up leadership with co-CEOs, co-Presidents appointments
The alternative credit manager will have three co-presidents after promoting Spyro Alexopoulos and hiring two new executives

New SEC enforcement director puts private credit funds under the microscope
The US regulator is monitoring stresses in some portfolios as well as risks related to liquidity, valuations, conflicts of interest, and fees, the new enforcement chief said in a speech

Federated Hermes taps Benefit Street’s special-sits exec to lead European credit team
Carlos Gross, who ran special situations at Benefit Street Partners, has been named head of European credit opportunities in Federated Hermes' private credit team

New York, Connecticut among systems pursuing alternative credit strategies
NYSCRF allocates USD 450m to net-lease, GP stakes funds; San Diego, San Mateo pensions commit to asset-based finance funds

AI is reshaping capital markets, say Milken confab attendees
Artificial intelligence will be the most transformative technology of our lifetime, reshaping everything, including capital markets. This was the dominant prediction at the annual Milken Global Conference 2026

Is Medallia the proverbial canary in the coal mine?
In 2021, the USD 6.4bn buyout of Medallia was hailed as a marquee deal for a private credit industry enjoying its golden age. It turned out to be a flop. Five years later, some of the sector’s titans, including Blackstone, Apollo, KKR and BlackRock’s HPS, are poised to take the keys to the troubled software firm from its private equity owners

Buyers of private credit secondaries spy discounts
Private credit fund managers are fretting over the US-Iran war and the impact of artificial intelligence on corporate borrowers. But their concerns spell potential opportunity for another set of market participants — investors keen on stakes in existing funds if the price is right

Antares raises USD 8.5bn for senior direct lending
The alternative credit manager held a final close for its third Senior Loan Fund after raising capital from new and existing investors

KKR to support FS KKR BDC with USD 300m via investment, tender offers
The listed business development company will focus on reducing leverage, repurchasing stock, and managing existing investments instead of deployment