North America

Private credit’s asset-backed pivot

Scrutiny over software, BDC liquidity diverting managers’ attention back to what could be a $20trn market.

Blackstone credit inflows slow in Q2

But growth in insurance inflows helped boost total credit inflows to $33bn, nearly 50% of the firm’s total.

Wellington to manage semi-liquid funds holding Blackstone, Vanguard investments

Geared to private wealth clients, the end funds will combine public and private assets and have limited distribution at first.

The debate rages over insurance risk in private credit

Insurers ventured into alternative credit for yield and diversification, but the question of whether the risks are appropriate remains unsettled

Monroe and AIP close $643m aviation securitisation

The portfolio has a weighted average aircraft age of approximately 5.6 years. This is very close to the average for commercial aircraft securitisation deals.

Sagard reaches half its $2bn target in first close on third vintage

The firm is using Credit Partners III, a senior secured, direct lending fund, to focus on non-sponsored borrowers.

Bay Area pension scrapped private credit plans amid worsening risk-return profile

Negative headlines about evergreen funds contributed to the California plan’s decision to abandon its initial $140m investment in those vehicles.

What the Investing in All of America Act means for private credit

The legislation could provide new impetus for credit managers to back the most important sectors and regions for the US economy, writes Damien Dwin.

SFERs’ strategy weightings, geographical exposure led to private credit misses

Even as the $40bn system deals with short-term underperformance, its pacing into the asset class is expected to increase in the coming years.

BDC redemption requests in Q2: more of the same, if not worse

The trend among retail investors that started in Q1 accelerates, on average, and involves many of the same large fund managers.