NYS system commits USD 500m as Illinois plans private credit RFP
NYSCRF allocates USD 500m to BlackRock, Ares and Pearl Diver; Boston, San Joaquin pensions also reveal recent commitments; Illinois police pension plans private credit search in June

Lending giants invade lower mid-market in search of deals – Private Credit Comment
Smaller debt funds face increased competition from larger lenders; normalisation hinges on more M&A volumes or issues in syndicated markets

Private credit manager Varagon prices second CLO
Arranged by BNP Paribas, the USD 592m MDL Structured Notes II is the manager’s first CLO issue since its market debut in October 2024

Janus Henderson launches asset-backed credit fund for individuals
The fund, which was seeded with USD 250m, launched through Janus Henderson affiliates Privacore Capital and Victory Park Capital

First BCRED deal for 2026 lowers AAA tight for private credit CLOs
The deal issued its top-of-stack paper at SOFR plus 137bps

Wisconsin, Texas systems increase commitments to opportunistic credit
Wisconsin Investment Board allocates USD 650m in 4Q25; Texas system commits USD 350m to LuminArx, Ares

KKR prices second deal in programmatic private credit CLO strategy
The transaction is the second in the manager’s series of private credit CLO issues under the KIMM (KKR Institutional Middle Market CLO) banner, following the pricing of KIMM CLO I in October 2024

Ares plans to raise a USD 6.6bn alternative credit fund in just six months
The alternative asset manager also said on its fourth quarter earnings call that it is preparing a final close for its latest opportunistic credit fund

PennantPark resets 2024-vintage private credit CLO
PennantPark has reset a 2024-vintage private credit CLO, tightening its senior triple A spreads by 87bps from the level they issued at two years ago

Blue Owl raises USD 2.5bn for opportunistic alternative credit fund
The firm also said it is not negative on software lending, amid concerns that artificial intelligence may make some businesses obsolete

European BSL market upped risk to win deals in 2025 – White & Case
The BSL market issued a higher percentage of loans rated below BB against a backdrop of patchy M&A flow

Private credit secondaries poised for insurer activity – Coller
ANALYSIS: Credit secondaries are the natural buyer universe for structured notes, which have become a popular way for insurers to gain private credit exposure

New Jersey, Oklahoma systems double down on private credit SMAs
New Jersey DOI commits USD 600m to Golub Capital, while Oklahoma, NY systems increase allocations to SMAs; Vermont pension could commit USD 235m in 2026

Moody’s prepares to enter European private credit CLO rating space
EXCLUSIVE: Moody’s is in discussions about rating private credit CLOs in Europe for the first time, as the market continues to grow

LACERS stalls private credit consultant renewal, Connecticut system issues RFP
The Texas County & District Retirement System invests another USD 60m in Alcentra's Structured Credit Opportunities Fund V, while LACERS delays private credit consultant renewal over fees

Coller Capital expects more to come from evolving Asia secondaries ecosystem
Sponsor has USD 17bn to deploy in current cycle, optimistic about Asia; open mind, broad toolkit seen as essential to getting traction in Asia

BlackRock TCP’s BDC waives Q4 fees, anticipating NAV drop
The listed BDC faces nearly a 20% plunge in net asset value after making a series of bad bets

Carlyle AlpInvest backs USD 1.5bn Eldridge credit fund
Eldridge used a secondaries transaction to help establish its first private credit fund

Private credit investors chase higher risk-return—Campbell Lutyens
A new survey shows investors are seeking higher returning strategies amid expectations of lower rates, while also turning away from the dominant North American market

Credit secondaries poised for continued rapid growth – Antares CEO
Extended hold times and backlog of exits are driving increased activity, while credit secondaries volume more than doubled last year

CAPZA appoints co-head of private debt
New parent company BNPP AM Alts seeks to accelerate the growth of the mid-market private debt franchise in Europe, the company said

Multi-currency private credit CLOs will become the status quo in Europe - S&P

The multi-currency approach to European private credit CLOs will become the status quo this year, with new entrants helping to drive this growth, S&P has predicted

Private credit CLOs scaled new heights in 2025
CHART: Mid-market CLOs enjoyed their biggest issuance year ever, powered by a high number of pricings and underpinned by an especially prolific opening quarter

Monroe raises USD 6.1bn for senior direct lending
The firm held a final close for its Monroe Capital Private Credit Fund V and raised additional capital from separately managed accounts

TPG, Jackson Financial strike partnership focused on private credit
TPG will take a minority stake in Jackson and start by managing at least USD 12bn of the insurer’s assets