News & Analysis

Neuberger Berman launches its first asset-based interval fund

NB Asset-Based Credit Fund is focused on receivables lending, consumer, small business and real asset sectors

PIK, the quick fix that stirs controversy

Seen by some as a useful liquidity tool and by others as a disguiser of stress, payment-in-kind has become one of today’s big talking points.

Tacoma pension hunts for manager outside direct lending

A Washington pension is turning its attention to asset-backed lending, real estate debt and other strategies as it bolsters new private credit programme in $2.3bn portfolio.

NLC makes foray into private credit NAV lending

The non-bank lender will build on its sub-lines approach in entering a mature market.

Houlihan Lokey: Borrowers hold the cards in private credit

The proliferation of covenant-light loans is driving competition among lenders, a recent report says. A Houlihan Lokey executive breaks down the consequences.

Asset-backed finance, the ‘quiet giant’

Leading investors discussed emerging areas of private debt, the rise of data centres and concerns over PIK in a Private Debt Investor Network webinar.

Loan Note: CVC progresses on fundraising trail; Funds SA announces team changes

CVC reports strong progress with direct lending fundraising. Plus: shake-up at Australia’s Funds SA; and Palmer Square sees investor appetite for Euro CLO ETF. Here’s today’s brief for our valued subscribers only.

Inside Phoenix’s £3bn private debt drive

Head of private markets Cecile Retaureau explains how the UK life and pensions firm is building its exposure to infrastructure finance. It is also adding to its private credit team.

Deployment: the next fundraising differentiator

Why the ability to deploy capital quickly is becoming key to a manager’s ability to tee up their next fund.