Rulemaking

Voluntary Fed survey to weigh $1.3trn private credit market

The Dallas and New York Federal Reserve banks are seeking insights into the market, amid concerns about its health.

From ‘status quo’ to ‘remain in place’: ILPA updates CV guidance for an evolving market

The industry body’s prior guidance was ‘silent on a lot of things’, chief executive Jennifer Choi tells affiliate title Secondaries Investor.

US regulators aim sights on private debt risk as insurance interest grows

Talks between domestic and international regulators will begin in April and continue throughout the summer.

Moody’s: bank NDFI exposure grows to $1.4trn at year-end 2025

Loans to non-depository financial institutions were some of the fastest expanding areas of lending for large US banks.

Germany’s clarified framework for enforcement and recoveries

How the country’s updated auction rules are starting to shape intercreditor dynamics, enforcement strategies and loss-given-default assumptions in deals involving German collateral. By Dagmar Gold of Deutsche Pfandverwertung

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.

LPs may turn their backs on retail-friendly GPs, early ILPA survey data suggests

Early results from an ILPA survey suggest LPs are ready to draw a line in the sand when it comes to investing with managers chasing retail capital.

401(k) Special: ILPA to publish guidance on how executive order impacts LPs

ILPA will also update its due diligence questionnaire template and introduce a retail capital section in light of recent developments, Neal Prunier, managing director for industry affairs at ILPA, tells PEI.