Analysis

Woes continue at FS KKR: Enhancement actions announced

JPMorgan cuts exposure to the publicly traded BDC after downgrades and stock price dive.

Apollo beats target on a hybrid fund with $6.5bn close

The strategy that sits between debt and equity is seeing increasing demand from investors.

Apollo breaks $1trn AUM and moves to report daily pricing for credit

CEO Marc Rowan says the totality of the firm’s credit business will be ‘100% daily pricing’.

Ares brushes off negative sentiment in Q1 earnings

CEO Michael Arougheti expressed confidence for future dealmaking as the effects of the Iran war normalise.

Moody’s analysts discuss their outlook downgrade for BDCs

Four factors weigh on the sector: leverage, redemptions, asset quality and the risk of obsolescence by AI.

Blue Owl returns 35% of BDC’s NAV to investors

Co-chief executives Marc Lipschultz and Doug Ostrover are no longer using company shares as collateral for personal loans.

Moody’s: Mid-market credit quality erosion is hidden in plain sight

Rising leverage, declining liquidity and a weakening of free cashflows is putting pressure on mid-market issuers.

Barings BDC joins peers in gating redemptions after 11.3% is requested

The manager says redemption gates allow the non-listed fund to ‘preserve portfolio integrity and continue deploying capital’.