Blue Owl’s unwise BDC merger rekindles liquidity risk worries
A bungled attempt by Blue Owl to merge two of its credit funds highlights the risks wealthy investors in non-listed debt vehicles run in trading off the promise of consistent returns for limited liquidity

Leverage constraints, dividend potential was a driver in Blue Owl’s failed BDC merger
EXCLUSIVE: Investors in the nontraded BDC may have taken a hit to the share price as part of the original merger plan, but merging with the more leveraged listed BDC would have improved dividend yield

Blue Owl BDC M&A termination highlights the cost of market timing
ANALYSIS: BDC mergers are a common tactic to provide immediate liquidity to investors in less liquid private credit funds, but Blue Owl’s attempt came after a tumble in listed BDC share prices

Blue Owl calls off BDC merger
The firm previously planned to merge its listed BDC, OBDC, with the nontraded BDC, Blue Owl Capital Corporation II

Barings BDC taps new CEO for the new year
Thomas McDonnell, who has spent two decades at the firm, will step in as CEO for the listed business-development company

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

Runway to acquire healthcare-focused specialty finance company
The acquisition is part of the firm’s push to grow its platform through organic and inorganic means

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

Venture debt specialist Horizon expands lending to listed, small cap companies
EXCLUSIVE: Horizon Technology Finance revamps its strategy by merging with Monroe’s other listed BDC and expanding its focus beyond traditional venture lending

CAIS, Solactive launch private credit index
The index can be used by wealth advisors to benchmark the performance of private BDCs

Morgan Stanley Direct Lending debuts inaugural private credit CLO
Morgan Stanley Direct Lending Fund, a business development company, has launched its first private credit CLO 

Kayne Anderson to debut private BDC to tap affluent investors
EXCLUSIVE: Private BDCs, pioneered by some of the largest direct lenders in the market, are becoming a common vehicle across the private credit manager industry

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

Remora Capital Partners to launch inaugural private BDC
The firm expects the private BDC to reach a size of around USD 500m in around a year’s time

Audax launches private BDC with USD 1.1bn
The new product is aimed at wealthy individual investors in the US

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

Managers shift to nontraded BDCs in direct sell to individual investors—Raymond James
EXCLUSIVE: Creditflux sits down with Raymond James managing director and BDC expert Larry Herman for a Q&A

Churchill hires from FS Investments to grow wealth channel
New York-headquartered Churchill Asset Management has hired a new managing director and head of investor relations, retail & wealth 

Trinity Capital partners with Eagle Point to launch new credit fund
Venture debt specialist Trinity Capital and CLO equity investment firm Eagle Point Credit have launched a new credit fund intended to become a private BDC

California retirement system provides seed capital to BDC
The California State Teachers' Retirement System is not just allocating to private credit, but forming a new direct lending partnership

Crescent Capital shakes up senior-leadership team
Los Angeles-based alternative credit specialist Crescent Capital Group is updating its senior-leadership team with several key promotions

Alliance Bernstein grows alternatives business
AllianceBernstein continues to expand its alternatives business with the launch of a new BDC, as well as a further push into strategies such as energy transition, asset-based lending and opportunistic credit

Goldman Sachs makes progress on ramping $1 billion mid-market fund
Goldman Sachs has made progress in ramping up a recent mid-market loan fund, according to recent regulatory filings