News & Analysis

BlackRock BDC marks down NAV by 19%

BlackRock TCP Capital Corp was hit by a string of deteriorating credits, including Renovo.

Benefit Street and Alcentra merge under BSP brand

The move completes the integration of Alcentra and Benefit Street Partners, both of which are part of Franklin Templeton’s alternative credit platform.

Loan Note: Insurers carve out the biggest allocations; KBRA identifies new risks

Our Investor Report identifies insurers as writing the biggest cheques in private debt. Also, KBRA sees rising risk in the asset class and Campbell Lutyens finds LPs wanting more manager relationships. Here’s today’s brief for our valued subscribers only.

CVC to acquire US manager Marathon

The deal will significantly expand CVC’s presence in North America and follows the signing of a $3.5bn partnership with AIG.

CIBC’s asset management arm launches private credit fund

The bank’s asset management unit offers exposure to senior secured, floating rate debt.

Gapstow: Credit interval fund AUM jumped 37% in 2025

Report says 22 new alternative credit interval funds made a new record for launches, bringing total AUM to $83bn.

Five things to know about EQT’s $3.7bn Coller acquisition

The transaction marks EQT’s entrance into the secondaries market and expansion into insurance offerings, with secondaries doyen Jeremy Coller reporting to chief executive Per Franzén.

Investor support for North America starts to fade

Our latest snapshot of LP opinion appears to suggest capital flows may be changing direction.

Loan Note: Goldman cautions on discipline; Blue Owl refinances BDC

Goldman press briefing highlights performance dispersion and investor diversification. Also, Blue Owl in BDC refinancing and Capza announces senior moves. Here’s today’s brief for our valued subscribers only.

Factors were wary two months before Saks Global’s bankruptcy filing

Burdened by debt, Saks missed a $100m interest payment in late 2025.