Analysis

Audax raises $2.66bn for third direct lending fund

The third vintage is more than halfway to its $5bn target fundraise, filings show.

Davidson Kempner argues it’s time to pivot to asset-backed finance

As recovery rates plunge, a new report points to second-lien mortgages, European SME ABF and US equipment finance as areas of opportunity.

TPG holds $6.2bn final close on third special sits fund

The fund, launched in 2023, exceeded s $4.5bn target, and will focus on both public and private firms.

Monroe Capital launches its first perpetual-life, non-traded BDC for retail investors

MLEND will be available to clients of financial advisers through US-based RIA and broker-dealer networks

NAIC eyes new framework for regulatory credit ratings

Effective 1 January, state insurance regulators will have more leeway to challenge credit ratings

European unitranche activity steady in Q3

Debt funds continue to lead the market, says Houlihan Lokey’s midcap monitor.

Blue Owl scraps BDC merger after sharp declines in shares

The manager confirmed the OBDC and OBDC II merger is terminated and it will re-evaluate alternatives.

Vistara Growth holds $321m final close for growth-stage lending fund

The provider of growth debt and equity capital will target mostly B2B software firms with $10m-$100m in revenue.

Neuberger Berman holds $7.3bn final close for direct lending fund

With leverage, NB Private Debt V, a senior debt fund, raises more than double its target.