BDC

BDC redemptions climb higher than 2022 but rebound is on the cards

BDC redemption rates have increased sharply due to numerous macroeconomic issues and uncertainty around the impact of AI, but this could precede a rebound in credit fortunes.

Woes continue at FS KKR: Enhancement actions announced

JPMorgan cuts exposure to the publicly traded BDC after downgrades and stock price dive.

Blue Owl seeks to reassure investors following Q1 earnings

Co-CEO Marc Lipschultz pushes back on the ‘panic’ narrative, saying it is driven by sentiment, not fundamentals.

Saba Capital to expand second-hand liquidity platform for BDCs, interval funds

The hedge fund and activist investor says it will target public and private BDCs at 30% or more discounts to NAV.

Moody’s analysts discuss their outlook downgrade for BDCs

Four factors weigh on the sector: leverage, redemptions, asset quality and the risk of obsolescence by AI.

Blackstone posts earnings rise and shrugs off SaaSpocalypse talk

Private credit returns declined in Q1, but executives blame ‘naysayers’ not fundamentals.

Blackstone’s Gray: Negative news doesn’t invalidate semi-liquid structure

The firm’s chief operating officer told a Moody’s conference, however, that ‘if you need the money to live on, it’s not appropriate’.

Blue Owl returns 35% of BDC’s NAV to investors

Co-chief executives Marc Lipschultz and Doug Ostrover are no longer using company shares as collateral for personal loans.

Barings BDC joins peers in gating redemptions after 11.3% is requested

The manager says redemption gates allow the non-listed fund to ‘preserve portfolio integrity and continue deploying capital’.

Private credit exposure to AI risks driven by incentive structures – report

Private debt funds face exposure to AI-disrupted industries in approaching 60% of assets, driven by a culture focused on origination rather than portfolio management.