News & Analysis

Loan Note: Are LPs too focused on corporate credit?; European unitranche market in good health

Questions raised over whether LPs are failing to sufficiently diversify in private debt. Plus: signs of life in the European unitranche market; and Bridgepoint establishes music royalties partnership.

State Street: The rise of the retail investors

All private market asset classes stand to benefit, debt more than real estate or infrastructure.

HarbourVest report: Some LPs not taking a holistic approach to private debt

Investing sequentially, rather than simultaneously considering allocations in ABF and niche strategies, could be harming some LPs returns.

ABF may ease direct lending concerns

It remains to be seen how successfully direct lending can navigate current headwinds. LPs with heavy exposures may welcome the rise of asset-based finance.

New credit intelligence platform aims to democratise credit analysis

The system has been launched by Martini.ai.

Loan Note: We put the spotlight on challenges in direct lending; Cliffwater weighs traded versus non-traded BDCs

Our June 2025 issues examines the stresses and strains in direct lending. Plus: Cliffwater compares public and non-traded BDCs; and Moody’s lays bare the changes private credit has brought to the life insurance industry.

Franklin Templeton adds Apera to $87bn private credit arm

The deal will boost Franklin Templeton’s capability to invest in the European lower mid-market.

How AI gives underwriting a boost

The latest technology is allowing managers to streamline their operations when planning and executing transactions.

Jirí Król on securitisation and the need for clarity

A proposal to revise the EU Securitisation Regulation from the European Commission is expected in June, says the global head of the Alternative Credit Council.

Market conditions: Default picture lacks clarity

Should borrowers and lenders be worried about default rates?