Iran War to increase corporate default rates globally — IACPM Survey
Though the credit market is absorbing new leveraged loan issuance amid geopolitical uncertainty, credit managers expect the war to drive a rise in defaults

CLO equity price decline represents compelling buying opportunity — CIFC
Over the next 12 to 24 months, CLO equity could generate returns comparable to those seen in 2023-2024, CIFC believes

M&A volume leap 20% to USD 1.38tn in first quarter of 2026
Even the Iran conflict has not arrested momentum among larger deals. A mammoth USD 122bn capital raise from OpenAI closed on the last day of the quarter, according to Mergermarket data

Michigan, New Mexico make large bets on asset-based credit strategies
Michigan SIB commits USD 800m to Apollo, LGT credit funds; New Mexico SIC allocates USD 400m for Ares, Pemberton funds

AI blockbuster deals surge as Middle East conflict test dealmaker confidence
Mergermarkets M&A Highlights 1Q26: Global M&A volume jumped 22% to the second highest start ever

First Brands secures final mediation extension to advance case resolution talks, judge warns against further delays
Judge approves extension of FBG case resolution mediation with Judge Isgur through 27 March; likely the final extension for case resolution talks

Loan ETFs see massive outflows as retail investors react to software, Iran
EXCLUSIVE: The software sell-off and Iranian conflict have rattled the retail market and led to a spike in outflows, according to Octaura data

BlackRock TCP reports new write-downs, wiping out 19% of NAV
Loans on non-accrual now account for 9.7% of cost for the BDC’s portfolio and 4% of fair value, the fourth quarter earnings presentation shows

Golub reset sets fresh AAA market tight for private credit CLOs
Golub Capital Partners CLO 71(M)-R issued its top-of-stack paper at SOFR plus 135bps, two bps inside the previous low

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

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

CLO ETFs attracted USD 14.8bn of investor cash in 2025 – Morningstar
Total net inflows for US-domiciled CLO ETFs fell short of the highs seen in 2024

TwentyFour AM favours European CLO equity going into 2026
In comparison, US CLO equity faces more challenges related to LMEs and refinancing activity, the asset manager said

Blackstone starts new fundraising round for institutional, evergreen US direct lending fund
The alternative asset management giant is back to raise more capital for Blackstone Senior Direct Lending Fund after previously closing on USD 22bn in October 2024

Further lawyer moves predicted as competition for legal CLO talent intensifies

EXCLUSIVE: Shortage of talent amongst legal CLO specialists has fuelled speculation of more moves unless law firms prioritise staff retention

LPs seek cyclical private credit play amid US economic uncertainty
Many LPs pivoted to all-weather private credit strategies in recent years, but interest in more opportunistic and special-sits strategies reliant on a credit downturn are picking up once more

Altice France new capital structure starts trading as investors consider M&A potential
Restructuring completed as secured debt trades; break-up of Altice France business possible through sector consolidation

HSBC AM launches evergreen fund targeting trade, working capital assets
The new private credit strategy will invest in assets such as receivables and payables finance, trade loans and other instruments around the world

BC Partners Credit launches evergreen fund for dedicated specialty finance strategy
EXCLUSIVE: The new vehicle will be seeded with eight performing specialty finance loans

End of week sees private credit CLO issuance rush
The mid-market saw a flurry of issues from Eldridge, Churchill, StepStone and BlackRock toward the end of last week, with the total value of the four deals across Thursday and Friday totalling over USD 1.5bn

Blue Owl prints tightest triple As in new middle-market CLO since Liberation Day
It’s the first middle market new issue of 2025 from the manager

Private credit inflows face uphill battle even as 401(k) doors open
Although US President Trump’s executive order opens defined contribution retirement plans like 401(k)s to private credit investments, a sudden and meaningful rise in inflows is unlikely 

PGIM shakes up credit platforms in major reorganization
The reorganization eliminates the separation between PGIM Private Capital and PGIM Fixed Income. The insurer-led firm appointed a single head of public and private fixed income  

Mid-market CLO rally unlikely to endure — S&P Global
The positive start to the year has been undercut by uncertainty stemming from the Trump administration’s new tariff regime

Flood of new US CLOs print before long weekend as market wraps up busy week
A hectic day saw new issues pricing from Antares, Barings, CQS and Polus