CFA warns of conflicts of interest in continuation funds
The growing popularity of continuation funds has raised questions around manager processes, the CFA Institute said

Hunter Point lends to Willow Tree in GP financing deal
The direct lender brings in a new partner that should help the firm expand its presence in the wealth channel and launch new strategies

Direct lending stress to remain high despite rate cut – Moody's
A report from BofA also shows that even if interest payment costs ease slightly, the direct lending market faces a high percentage of payment-in-kind deals coming due

Apollo Debt Solutions issues second direct lending CLO
The print follows the manager’s inaugural such deal at the end of April, arranged by RBC and Apollo

Carlyle nabs head of direct lending origination from Golub
EXCLUSIVE: The firm also hired a second managing director focused on originations as it re-staffs its direct lending franchise

Evolving M&A is transforming the capital formation landscape – KKR
'Critical' link between M&A and credit is set to fuel growth in private markets

Ex-Morgan Stanley head of originations starts as Octagon’s head of private credit
EXCLUSIVE: The new hire will lead the liquid credit shop’s new direct-lending strategy, launched earlier this year

Principal Asset Management hires MD for sponsor-backed direct lending
EXCLUSIVE: Jordon Thompson, who most recently worked for Cerberus Capital Management, now covers sponsor relationships for Principal Asset Management 

Corinthia Global Management hires Ares alum in New York
The global private credit manager has hired former Ares partner Craig Shirey to serve as a managing director

Asset-based lending increasingly acts as private debt diversifier
Direct lender Bow River is the latest manager to acquire a lower middle market asset-based financing firm as investors seek to diversify existing private debt portfolios

Park Square and Nomura plan private credit partnership
EXCLUSIVE: The two parties are negotiating a partnership in which Nomura’s US investment banking unit would help Park Square source unitranche deals in the US

Sponsors abandoning companies to private lenders at rapid rate---Lincoln International
The first half of 2025 saw private equity sponsors hand over companies to direct lenders at a volume that exceeded the past five years combined, the valuation firm’s data shows

MetLife IM appoints global head of private fixed income
The role was left open after Brian Funk was promoted to president earlier this summer

Direct lending competition erases refinancing premium
Historically, new LBOs resulted in cheaper pricing, but spreads for refinancing and recapitalization deals have tightened as direct lenders face a lack of deployment opportunities

US direct lending faces 6% “shadow default rate”—Lincoln
Many private credit managers are offering payment-in-kind options to weaker borrowers, possibly obscuring more widespread pain in the market

BC Partners LPs roll into third unitranche-focused private debt fund
The latest Great Lakes III fund kicked off its investment period and began deploying capital on 1 August, the company said.

Core direct lending falls out of favour
As capital flows in and middle market M&A shrinks, private credit managers are looking for new places to invest, said speakers at the Debtwire Private Credit Forum New York

HIG WhiteHorse corrals USD 5.9bn for US direct lending
The latest fund will be used to originate senior-secured loans for both sponsored and non-sponsored corporate borrowers

Sponsors push amendments as direct lenders grow receptive – L4CP’s Chuchla
Particularly with vintage-2021 deals, direct lenders are open to amending terms to the looser market standard of today, Lane Four Capital Partners founder Rob Chuchla said

Oak Hill Advisors raises USD 3.3bn for senior direct lending
The fund has yet to hold a final close but has already exceeded the fund’s initial target

PGIM looks to build private credit secondaries strategy
EXCLUSIVE: The insurer-linked asset manager already has secondaries capabilities through the acquisition of Montana Capital Partners in 2021

PGIM closes sophomore senior debt fund with USD 4.2bn
The commingled, private fund will be used to lend to middle-market companies across North America, Europe and Australia

KKR grows ABF business to USD 75bn, expands origination
The alternative asset manager acquired a majority stake in a biopharma royalties business this week to add to its asset-backed finance business

Moodys, MSCI roll out tool to predict private credit defaults in portfolios
With GPs granting access to private portfolio data, limited partners could also get ‘implied ratings’ for the underlying private loans

Morgan Stanley loses head of direct lending and co-head of North America private credit
EXCLUSIVE: the head of direct lending had also served as co-head of North America Private Credit at Morgan Stanley Investment Management; bank assigns new head