North America

401(k) Special: ILPA to publish guidance on how executive order impacts LPs

ILPA will also update its due diligence questionnaire template and introduce a retail capital section in light of recent developments, Neal Prunier, managing director for industry affairs at ILPA, tells PEI.

Neuberger Berman launches its first asset-based interval fund

NB Asset-Based Credit Fund is focused on receivables lending, consumer, small business and real asset sectors

PIK, the quick fix that stirs controversy

Seen by some as a useful liquidity tool and by others as a disguiser of stress, payment-in-kind has become one of today’s big talking points.

Tacoma pension hunts for manager outside direct lending

A Washington pension is turning its attention to asset-backed lending, real estate debt and other strategies as it bolsters new private credit programme in $2.3bn portfolio.

Houlihan Lokey: Borrowers hold the cards in private credit

The proliferation of covenant-light loans is driving competition among lenders, a recent report says. A Houlihan Lokey executive breaks down the consequences.

Asset-backed finance, the ‘quiet giant’

Leading investors discussed emerging areas of private debt, the rise of data centres and concerns over PIK in a Private Debt Investor Network webinar.

Sound Point achieves $1.1bn first close on Strategic Capital Fund III

The fund manager sees opportunities in a lending space still dominated by banks.

Ares credit group fees grow 16% year-on-year, Q2 earnings report shows

Good news amid disappointment over missed earnings-per-share estimate.

Apollo, Blackstone, Carlyle, KKR enthusiastic about 401(k) plan executive order

While the EO is encouraging, significant regulatory and legal hurdles remain before it can be fully implemented, point out some PE pros.