News & Analysis

Investors fly blind into private funds

Adams Street survey finds an expectation of growing allocations from individual investors despite limited awareness of private equity and credit structures.

Primary Wave holds $2.2bn final close on music royalties fund

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

Real estate brokers turn to private credit funds – report

Private lenders have come to dominate real estate lending in the UK, according to research by the London School of Economics.

Infra debt most popular for 2026 credit allocations – research

Infrastructure debt is increasingly popular among LPs, particularly those with more established credit portfolios.

Saba Capital to expand second-hand liquidity platform for BDCs, interval funds

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

Moody’s analysts discuss their outlook downgrade for BDCs

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

Mercer closes private assets fund on nearly $4bn

Marsh’s investment manager outpaces the target for its eighth vintage.

Loan Note: Secondaries rise provokes LP/GP debate; Pemberton finds retail, software largely US issues

Secondaries on the rise, but LPs and GPs don’t always see eye to eye. Also, Pemberton highlights US/Europe disparity over retail and software woes; and private credit deals on the up in Africa. Here’s today’s brief for our valued subscribers only.

Standard Life targets first CLO deal amid structured credit push

The UK insurer is talking to managers of collateralised loan obligations as it eyes new areas of private debt. It’s also active in fund finance.

Blackstone posts earnings rise and shrugs off SaaSpocalypse talk

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