Monroe launches direct lending fund for US retail investors
The latest nontraded BDC will offer quarterly liquidity windows via share repurchases

Prices of listed BDCs tumble as falling rates and bankruptcies spook investors
The business development company, a once overlooked vehicle for middle market direct lending in the US, has spent the past few years riding the wave of private credit interest and favourable interest rates. But as rates come down and investors worry about credit quality, publicly traded BDCs have seen share prices decline

Nontraded BDC liquidity concerns grow after listed BDC sell-off
The rapid growth in these semi-liquid vehicles has meant many more individual investors in the wealth channel are exposed

Sixth Street Specialty Lending starts CEO transition
The BDC’s current CEO Joshua Easterly will step down from his position at the end of the year but continue his role as co-CIO of the greater Sixth Street platform

Crestline launches perpetual, private BDC to attract private wealth investors
This is the firm’s first business development company and commingled perpetual vehicle

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

Kayne Anderson raises more than USD 2bn for middle market direct lending
EXCLUSIVE: The firm plans to hold a final close for Kayne Anderson Senior Credit Fund V at the end of the year

First Eagle launches nontraded BDC that invests in US middle market private credit
The product will invest in directly originated, senior-secured, first lien loans to US middle market corporate borrowers

New Mountain Capital BDC raises nearly USD 860m
New York-based alternative asset manager New Mountain Capital has held close of its New Mountain Guardian IV BDC 

Apollo launches new BDC backed by Mubadala
Apollo has created a new private BDC that will invest money from Abu Dhabi-based sovereign wealth fund Mubadala Investment Company, in addition to other institutional investors.

Nomura-backed Corinthia lifts private credit team from Barings
More than 20 members of the global private credit team at Barings have jumped ship and joined Corinthia Global Management, a new platform backed by Nomura Holdings

CLO market welcomes new middle market manager as BDC CLO prices
The CLO market welcomed merchant bank BDT & MSD Partners to the universe of managers today as Deutsche Bank arranged MSD BDC CLO 1

T. Rowe and Oak Hill launch new BDC
The BDC is another indication of the growing demand for access to private credit funds from individual investors

MidCap goes minimalist for mid-market deal
MidCap Financial, an Apollo affiliate, has priced a new middle market CLO called MFIC Bethesda CLO 1

Direct lending sets up on high street seeking retail and wealthy investors
Private credit managers, historically reliant on institutional investors, are increasingly turning to retail investors for fundraising. The dramatic growth in private credit as a whole has been well documented. But in the past few years there’s been a massive pickup by retail and private wealth.

Jefferies Credit Partners plans new BDC

Jefferies Credit Partners plans to launch its first private placement of a business development company. 

Pimco eyes CLOs as part of new flexible credit interval fund
Pimco is preparing to launch a new closed-ended, non-listed interval fund, named Pimco Flexible Corporate Income Fund, which will invest at least 80% of assets in corporate debt across public and private credit markets

Fidelity Investments raises over $100 million for BDC
Fidelity Investments says that its business development company, Fidelity Private Credit BDC, is up and running with “in excess of $100 million”.

Bain launches non-traded BDC
Bain Capital Credit says it has launched a non-traded business development company known as Bain Capital Private Credit, or BCPC

Nuveen and Churchill launch private BDC with initial $350 million portfolio
The Nuveen Churchill Private Capital Income Fund will primarily invest in middle market senior loans and junior capital. The BDC can also allocate to private equity co-investments

Angelo Gordon launches non-traded BDC following private BDC merger
Angelo Gordon has launched a non-traded business development company, AG Twin Brook Capital Income Fund, following a merger with an existing $616.2 million private BDC managed by the firm, AGTB Private BDC

Fidelity Investments prepares inaugural BDC
Fidelity Investments is preparing to launch its inaugural private credit business development company, Fidelity Private Credit Fund

HPS reveals private credit-focused non-traded BDC
HPS Investment Partners has become the latest manager to launch a public, non-traded business development company

Apollo launches $1 billion non-traded private credit BDC targeting individuals
Apollo has launched its first non-traded business development company, Apollo Debt Solutions BDC, with ‘more than $1 billion’ assets under management

Sound Point looks to amplify mid-market offerings with BDC and CLOs
Sound Point Capital Management expanded into mid-market lending earlier this month with the acquisition of CVC Credit Partners’ US direct lending arm, and the firm has big ambitions to expand the business