Analysis

Private credit’s political shadow

The economic troubles of the asset class are causing political problems for the industry as regulators rethink some of their ‘light touch’ promises.

Cliffwater CIO: Time to reconsider NAV ‘squeezing’ in secondaries

The asset manager’s investment chief cites ‘weird time arbitrage’ that the practice causes for evergreen investors who buy into vehicles at similar points.

BlackRock limits redemptions in non-listed BDC

Redemption requests in HPS Corporate Lending Fund exceeded the usual limit by more than 4 percentage points.

Investors pull $3.7bn from Blackstone evergreen

BCRED lifted its 5% redemption limit to 7% of assets.

NEXUS 2026 panel: Direct lending is a crowded trade

Competition for deals has risen to fever pitch and sourcing is a key differentiator, delegates heard.

BNP Paribas: ‘Alternative” evergreen structures attract institutional investors

Run-off evergreens and rolling vintage umbrella funds are giving LPs more flexibility than traditional closed-end drawdown funds.

Fitch: Default events in January double last year’s average

There were 11 private credit defaults in January and 89 in the trailing 12-month period.

The worst of times may be the best of times for private credit, says Oaktree’s Hobbs

Spreads now have a floor, creating opportunities, the deputy chief investment officer tells NEXUS 2026

Blue Owl halts quarterly redemptions in a non-traded BDC

The manager sells $1.4bn of loans in three BDCs and gates Blue Owl Capital Corp II.