Fund managers

Primary Wave’s fourth and largest such fund exceeded its original $1.5bn target fundraise and hard cap.

The hedge fund and activist investor says it will target public and private BDCs at 30% or more discounts to NAV.

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

Private credit returns declined in Q1, but executives blame ‘naysayers’ not fundamentals.

The firm’s Credit Opportunities Fund II collected more than double its target and will primarily invest in secondaries and co-investments

While the retail investor flight from private credit garners the majority of coverage, institutions are staying put.

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

The proportion of capital raised by secondaries funds in Q1 has exceeded that seen in 2025.

Simon England-Brammer’s new venture, which has been quietly establishing a track record and client base, is open to investing in private credit and private equity via asset managers.

The deal, which will form a life and pensions giant with a £480bn-odd asset portfolio, reflects the trend for consolidation among both LPs and managers.