News & Analysis

Bonaccord closes its second GP stakes fund at $1.6bn

The fund closed well above its $1.25bn target and is twice as large as its predecessor.

Sixth Street snags $13bn of insurer’s assets to manage

Northwestern Mutual may increase the total, and will take a minority stake in the manager.

Banks and private credit will define the financial landscape of 2025

As the relationship between banks and debt fund changes, Michael Guarnieri and Nakul Karnik expect greater collaboration this year.

Loan Note: More than half of LPs want more private debt over next year; Fitch upbeat on US CLO prospects

Five key findings from our LP Perspectives study. Plus: Fitch finds room for optimism in the US CLO market; and Beechbrook reaches first close for latest UK SME fund.

Fifth Circuit upends Serta uptier transaction

The decision increases uncertainties for creditors and distressed debtors contemplating liability management deals.

Anxiety over defaults persists, but overall mood is positive

As 2025 is ushered in, investors are reasonably confident about private debt’s prospects – but concerned that some problems have been masked.

Loan Note: Infrastructure fund progress for Allianz; CapitaLand takes further step in Australia

First close is reached for Allianz’s latest infrastructure debt fund. Plus: Singapore’s CapitaLand boosts Australia push with Wingate acquisition; and January Capital fund to help close funding gap for tech firms in Asia-Pacific.

Politicians to take notice of private debt in 2025

As the world awaits Donald Trump’s second term, private credit is set to become a major force in markets and that will attract the attention of politicians.

UK lenders hope for strong pipeline 2025

After a tumultuous 2024 for the UK, Thincats’ Ravi Anand looks at some reasons to be cheerful about 2025.

2024 in review: Turning a corner

After several tumultuous years, 2024 saw market sentiment start to improve and private credit reach out into new and lucrative areas of finance.