Analysis

Asset-backed finance, insurance power KKR’s credit division in Q3

Co-CEO Scott Nuttall sees ABF as a potentially $5trn-plus market for lenders.

TPG raises $1.8bn for third special sits fund

The fund is said to seek $4.5bn; LP commitments include the Rhode Island State Treasury and Vermont Pension Investment Commission.

Goldman Sachs: LPs are significantly underweight to private debt

Survey shows a mixed bag in investor attitudes toward the asset class, though many intend to increase allocations

Orlando Bravo: ‘Time is ticking, pressure is mounting to both buy and sell’

‘The cash that is sitting in private equity will have to be put to work,’ the Thoma Bravo co-founder said in this NEXUS 2025 preview interview. ‘Capital needs to be returned to LPs.’

Private credit still runner-up to PE, LPs say

LPs want more centralised data, are bullish on dealmaking in 2025, but unsatisfied with returns.

Debt’s evolution has fuelled growth, but may invite regulatory scrutiny – Moody’s

Tapping individual investors provides new sources of fundraising but also regulatory scrutiny, Moody’s warned in a report.

Moody’s: Default rates for private equity-backed companies on the rise

Dividend recapitalisations also trend up, but only among higher-rated borrowers.

Apollo plans to have $1.2trn credit AUM by 2029

The New York-based firm is also planning $275bn in origination annually by 2029.

Cliffwater: Private debt yields 7.87%, short of its expectations

Institutions may be sacrificing some yield for the sake of diversifying, says CEO Stephen Nesbitt.

Survey: Private credit secondaries’ surge has not yet come

Campbell Lutyens also finds concerns among investors that private credit is growing too quickly.