Limited Partners

StepStone Private Credit Income Fund launches

Quarterly redemptions on the interval fund are limited to 5% of NAV, with minimum investments of $25,000.

What is driving LPs to the secondaries market?

LPs want liquidity and GPs want to be in a position to offer it to them, while both want secondaries volume

Delaware bankruptcy court ruling favours distressed debt investors

The latest twist in trucking company Yellow’s litigation may bring some relief to funds holding debt of firms engaged in pension controversies.

Huatai International on the emerging opportunities in Asian private credit

With a robust economic outlook despite elevated interest rates, prospects for APAC private credit remain strong, but international LPs are still underallocating to the asset class, say Huatai International’s Ryan Chung and Isaac Wong.

Dai-ichi invests more than $1.5bn for Canyon Partners deal

The majority of the giant Japanese life insurance group’s investment is as an LP; it also takes a 19.9% stake in the credit-orientated manager.

Vidrio and AW survey: Investors’ appetite undeterred by denominator effect

Credit strategy’s slice of the alternatives pie grew to $32.4bn in 2023 from $27.1bn the previous year.

CalPERS and CalSTRS to boost private credit allocations

CalPERS is adding 3% and CalSTRS 2% to private credit; the public equity allocation at both pensions will decline.

Orange County pension eyes secondaries sale for private debt, potentially other funds

The system has not yet finalised a contract with a secondaries adviser.

GoldenTree closes debut private credit fund

Commitments total $1.35bn, including $50m from partners and employees.

Mid-market borrowers pass stress test amid higher rates, report says

KBRA says its assessment portfolio experienced ‘only a slight deterioration’ in interest rate coverage.