Europe

Specialisation and mega deals set to define market in 2026

Firms are bifurcating towards either serving large private equity-backed deals or looking at more niche specialist concerns in order to stand out in a competitive market.

Positive signals are seeing lenders look ahead to next-gen retail

Spreads on newly originated retail loans were largely stable in the third quarter, according to Trepp research.

Mubadala and Barings form $500m global real estate debt venture

The Abu Dhabi sovereign investor and MassMutual will be channeling capital through the Charlotte-based manager for US, Europe and Asia-Pacific credit opportunities.

Structured credit push: Phoenix, other insurers build exposure as First Eagle mulls fund launches

The $3.3trn structured credit market’s appeal is rising for insurers, says Phoenix’s head of private markets and a forthcoming report from US manager First Eagle Investments.

Davidson Kempner argues it’s time to pivot to asset-backed finance

As recovery rates plunge, a new report points to second-lien mortgages, European SME ABF and US equipment finance as areas of opportunity.

Is AI a bubble or is it a tech transformation?

How technological enthusiasm, even when well founded, can be a disastrous substitute for due diligence.

Default interest rates under scrutiny

The enforceability of default interest clauses has long been a critical issue for lenders and investors in the private debt market. Donna Newman and Peter Sequeira of Stephenson Harwood examine the lessons from Houssein v London Credit.

Park Square raises €722m for European Loan Partners III

The fund is part of a joint venture with SMBC and aims to have €5bn of total deployable capital.