Perpetual nontraded BDC fears are exaggerated—KBRA
Credit quality and liquidity at these semi-liquid private credit funds remain comfortable despite the negative shift in investor sentiment, the ratings agency said  

Blackstone raises USD 10bn for oversubscribed opportunistic credit fund
The alternative asset management giant will use the fund’s flexible mandate to invest across industries, capital structures, and geographies

Tikehau looks to develop Asia direct lending product via JV
The French alternative asset manager has struck a joint venture with Amova Asset Management, formerly known as Nikko Asset Management, to solidify its presence in Asia

Exit requests surpass 40% at Blue Owl’s semi-liquid, technology lending fund
The private credit fund designed for individual investors saw quarterly redemption requests surge, leading the fund to impose its 5% exit cap

Private credit community pushes back on alarmist narratives
Executives downplay AI risks, citing preparedness and strong credit fundamentals; Defaults and recoveries remain stable, despite negative headlines

Maturity wall threatens high-risk AI private credit names – KBRA
Direct lenders are showing an unwillingness to extend maturities for companies that are vulnerable to artificial intelligence or underperforming already 

JPMorgan Asset Management mixes public, private credit in new semi-liquid fund
JPMorgan’s asset management arm offers exposure to various credit investments across the public and private markets in a new interval fund for affluent individuals

European direct lending opportunity grows as US faces headwinds—AlbaCore
EXCLUSIVE: Outflows from select US direct lending vehicles could result in European direct lending spreads, particularly on larger deals, widening even further, Luke Gillam, head of senior direct lending, told Creditflux

Ares unitranche to back Nordic's acquisition of TradingHub defies AI concerns
The deal showcases that private credit shops are still willing to lend to software companies  

Majority of LPs expect to mix public and private credit despite liquidity challenges – BSP survey
Within the next five years, 59% of global institutional investors expect to take an integrated approach to public and private credit investments, new research from Benefit Street Partners shows 

Defaults concentrate in smaller names, showing ‘size does matter’ – Houlihan Lokey
EXCLUSIVE: Credit quality concerns were generally contained to the smaller end of the smallest borrowers as interest coverage ratios improved for the broader market, new fourth quarter data shows

T. Rowe Price and OHA launch credit interval fund with CLO exposure
The multi-strategy interval fund will allow wealth clients in the US to access public and private credit investments including CLOs

Tikehau sees fertile ground for latest credit secondaries fund amid market tumult
TPDS II closed on over USD 1bn, more than double size of inaugural vehicle; focus is on LP-led credit secondaries, despite market pivot to GP-leds

Institutions back direct lending as individual investors rush for exits
ANALYSIS: Some institutional investors are even hoping the pullback in retail capital will result in better deployment opportunities

Trinity strikes first-out lending JV targeting US lower middle market
Trinity Capital is partnering with another listed BDC, Capital Southwest Corporation, on the 50-50 joint venture

Morgan Stanley caps semi-liquid private credit fund redemptions at 5% limit
Investors rushing to exit the perpetual nontraded BDC will get less than half of their money back. Redemption requests surged to approximately 10.9% this quarter, an investor letter shows

JPMorgan cuts back lending to private credit funds after loan markdowns
The pullback comes after the bank marked down the value of certain loans held by private credit funds that served as collateral

Direct lenders hit hard as credit market reels from war and AI
Volatility has come back to credit markets. Artificial intelligence’s impact on corporate earnings, a war in Iran that is ensnaring the rest of the Middle East and upticks in inflationary pressures are weighing on managers

Direct lending braces for redrawn landscape
After a stellar 2025, direct lenders are coming under pressure. Large-cap financings are colliding with record tight spreads in public markets, while competition is rising in mid-market lending

Citi announces debt capital markets co-heads, including a hire from BofA
The new co-heads will fill the open spot left by head of global debt capital markets Rich Zogheb, who is retiring after 40 years in the industry

Expect more semi-liquid BDCs to enforce liquidity caps if exit rush continues – Fitch
These perpetual nontraded BDCs are not designed for high redemptions over the long-term, and the 5% liquidity limit is a feature designed to protect returns and fairness among shareholders

2026 has already seen over USD 7bn in direct lending foreclosures – Lincoln International
Private credit debt-to-equity swaps hit a record USD 24bn in 2025, and sponsors are continuing to abandon portfolio companies to direct lenders this year

Qatar SWF backs 5C direct lending growth in new partnership
The sovereign wealth fund is agreeing to help the alternative investment manager develop new investment products

BofA commits USD 25bn to fund private credit deals, taps head of private credit
The bank is pulling the capital from its balance sheet, following in JPMorgan’s footsteps to offer corporate clients another debt financing option

Blue Owl shares drop nearly 6% as market faces nontraded BDC “confusion”
Investors in the nontraded BDC OBDC II should be getting more money back after the announced portfolio sale yesterday, indicating that there might be “some confusion” in the market, KBRA said