North Carolina, Wyoming among systems pursuing alternative credit strategies
North Carolina commits USD 500m, plans another USD 2.8bn; Wyoming, Texas, Illinois target ABL, tactical, opportunistic strategies

Blackstone caps redemptions on BCRED as exit requests increase to 10%
Rather than pulling levers to fulfill all exit requests as it did last quarter, the semi-liquid BDC will cap exits at the original term of 5% of shares outstanding

Private credit valuation volatility trouble media more than investors – Debtwire Private Credit Forum New York 2026
Panellists and attendees at this year’s Debtwire Private Credit Forum complained that pushing for more transparency is not the same as seeking more frequent marks for direct lending assets

Guggenheim resets three-year-old private credit CLO
The triple As priced at SOFR plus 163bps, narrowing 87bps from their existing spread level

Crescent raises USD 10.8bn for direct lending, targeting lower mid-market
The firm’s fourth US direct lending fund was oversubscribed and exceeded its target by more than USD 2.5bn

Eurazeo closes its largest ever direct lending fund with EUR 3.9bn raised
Eurazeo Private Debt VII raised EUR 3.9bn at closing, exceeding its EUR 3bn target

Barings co-head of global investments says investors can expect to see more trading of private credit loans
PODCAST: Speaking on the latest episode of the Credit Exchange podcast with Lisa Lee, David Mihalick says it is natural to expect an increase in activity as people increase their portfolio allocations to private markets

US private credit CLO performance shows resilience—S&P
A new report from S&P Global Ratings shows US private credit CLO performance continued to show resilience in April, despite negative headlines

Older, US direct lending funds hold more equity positions, adding risk – MSCI
EXCLUSIVE: Around 15% of the total assets across US senior direct lending funds tracked by MSCI are equity positions of some kind, MSCI head of private credit research Patrick Warren told Creditflux

Blackstone’s big effort on private credit
As the world’s largest CLO manager by AUM, Blackstone is a prolific issuer, but rarely has it priced such large volumes in a single day

Ares’ semi-liquid BDC boosts borrowing capacity
Ares Strategic Income Fund, a semi-liquid private credit fund designed for individual investors, increased the amount of liquidity available on hand after an uptick in investor exit requests

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

Blackstone prices billion-dollar static BCRED CLO
The deal follows a similar, but smaller, transaction from the manager in March

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

CLO equity and private credit offer comparable returns—Texas TRS
EXCLUSIVE: The US institutional investor giant approaches credit investments opportunistically and as it seeks to achieve a 7% return target for its overall portfolio, CIO Jase Auby told Creditflux

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

PGIM prices new private credit CLO
PGIM has priced the latest iteration of its Windhill series of private credit CLOs, with the USD 400.5m transaction issuing through BNP Paribas

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

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

Seward & Kissel hires structured credit head as CLOs, private funds converge
Taha Khan joins from Milbank to build out a structured credit practice that will advise on CLOs as well as complex fund finance solutions like CFOs and rated note feeders