Fund managers

ABL: The acronym that describes different approaches to a trillion-dollar industry

Asset-based lending and asset-backed lending can be easily confused but represent contrasting lending activities. Richard Gumbrecht of Secured Finance Network explains the differences.

Rise of the robots: AI in private credit

Credit managers have been experimenting with AI in 2025, with many expecting it will become an integral part of the private credit landscape in the near future.

ABF boomed in 2025 and growth is set to accelerate next year

The private asset-based finance market has been expanding rapidly and is now larger than all other private credit markets, with economic trends signalling it will grow even more quickly in 2026.

Specialisation and mega deals set to define market in 2026

Firms are bifurcating towards either serving large private equity-backed deals or looking at more niche specialist concerns in order to stand out in a competitive market.

Audax raises $2.66bn for third direct lending fund

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

Pearl Diver partner: CLO tranches offer ‘something for everyone’

London-based manager’s new open-ended global interval fund focuses on synthetic risk transfer and capital relief.

Chu and other Tricolor execs indicted for bank and wire fraud

US attorneys claim Tricolor execs Chu, Goodgame, Kollar and Seibold fabricated data to obtain loans.

Positive signals are seeing lenders look ahead to next-gen retail

Spreads on newly originated retail loans were largely stable in the third quarter, according to Trepp research.

Structured credit push: Phoenix, other insurers build exposure as First Eagle mulls fund launches

The $3.3trn structured credit market’s appeal is rising for insurers, says Phoenix’s head of private markets and a forthcoming report from US manager First Eagle Investments.

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.