North America

Apollo’s Midcap gets ratings upgrade after $3.1bn debt issuance

The manager’s primary direct-origination platform’s senior unsecured notes and credit facility are now rated investment grade.

Benefit Street Partners holds $3bn final close for flagship real estate debt strategy

The firm reached its hard-cap for BSP Real Estate Opportunistic Debt Fund II with 29 months of time logged fundraising on the road.

Monroe lines up $6.1bn for private credit fund

The senior secured fund, the manager’s largest private credit vehicle, has already committed $3.2 billion

Davidson Kempner closes on $1.1bn credit fund, beating target

Asset-backed strategy seeks to provide exposure to residential, corporate and hard asset-backed loans.

Barings launches Infrastructure CLO at $508m

Manager sees an inflection point for infra lending via CLOs that marks a turn away from the banks.

DOWNLOAD: Fundraising hits new high in 2025

Fundraising hit a new record in 2025, but only just!

Public BDC performance may prompt pivot to interval funds

Alternative managers have an expanded arsenal compared with the last time public markets soured on BDCs.

Alaska Perm: Retail capital could ‘change dynamics’ in large end of the market

The $85bn fund needs to think about whether it will be investing alongside retail capital when it evaluates GPs, according to deputy CIO Allen Waldrop.

Leveraged roll-ups as a red flag: the First Brands case

Silver Point partner writes that serial acquirers can overstate growth and camouflage costs.

Rise of the robots: AI in private credit

Credit managers have been experimenting with AI in 2025, with many expecting it will become an integral part of the private credit landscape in the near future.