North America

Investment-grade credit in focus for Blackstone’s 2025 earnings

Blackstone’s IG Credit AUM is now $130bn, up 30% year-on-year.

Credit secondaries is set for another banner year

Credit secondaries ranked second only to PE in deal volume across both LP-led and GP-led transactions in 2025.

Exclusive: InterVest closes third fund at $1bn hard-cap

The real estate credit fund beat its $700m target and is more than 30% invested.

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.

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.

Investor support for North America starts to fade

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

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

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