News & Analysis

Credit managers seek to navigate the ‘SaaS-pocalypse’

Many direct lenders are considered overexposed to software, but opinions differ as to how harmful AI disruption in the sector may ultimately be.

Which LPs have an appetite for sharing?

If you’re wondering which investors might be keen on co-investments, here are six looking to partner up.

Ares, Antares close $1.7bn continuation vehicle

CV will comprise over 300 first-lien loans originated and managed by Antares.

17Capital closes NAV lending fund with $7.5bn

The firm said its second NAV loan fund is set to benefit from increased demand from private equity firms seeking flexibility.

Arizona state pension cuts projected returns out of private credit

Even while maintaining allocation targets for the asset class, the $63bn system is lowering its assumed return to reflect a more competitive environment for credit funds

Loan Note: PDI set for Japan Korea Week; strong criticism of semi-liquid funds at IIGS

Join us for a week of insights into private debt perspectives from Japan and Korea. Also, our infrastructure extravaganza in Berlin reveals strong views on semi-liquid funds; and Blackstone makes senior wealth capital appointments. Here’s today’s brief for our valued subscribers only.

Davidson Kempner: Opportunistic credit could benefit from ‘capital structure reset’

Stress in private equity funds and portfolio companies could open up opportunities for opportunistic credit managers, DK’s white paper argues.

BCRED issues CLO following redemptions, turbulence in NAV

The CLO issuance is routine but comes after a 0.4% decline in February, the BDC’s first monthly loss in three years.

Loan Note: Fund structuring under scrutiny; LPs reveal strategic preferences

‘Mis-selling and ‘mis-structuring’ at the heart of issue for retail vehicles. Also, second close for Blue Torch fund; and our data reveals LPs’ strategic preferences. Here’s today’s brief for our valued subscribers only.