Direct lending

PEI Group data shows that real estate, receivables, royalties and more have piqued the $6.8bn system’s interest.

The average time spend fundraising for credit fund strategies has generally risen during the 2020s.

The firm is seeking to replicate the direct lending model of customised solutions for borrowers into offerings for larger public companies.

Asset-based lending and term lending are coming together to meet challenges for a wide range of companies under pressure, argues Richard Gumbrecht.

The firm also reported a high re-up rate for its latest flagship European credit vehicle.

State’s pension consultant Meketa recognises problems underlie default headlines, but notes private credit is ahead of public markets in working through the cycle.

Continuation vehicles backed by Pantheon will acquire a total of roughly $2bn of private credit investments.

The investor is also moving into other new areas of illiquid credit, including infrastructure and real estate financing, says founder and CEO Antoine Prudent.

Despite discussions of declining investor demand for liquidity, both funds saw requests for double-digit amounts of shares to be tendered

The manager, which operates in the lower mid-market, in early June wrapped up one of the year’s stand-out private credit fundraisings to date.