Direct lending

A record first quarter speaks to continued institutional investor enthusiasm for private debt despite concerns on the retail side.

Consultant for $14bn pension plan, Callan, provided an overview of private credit’s potential tailwinds that ran the gamut – from retail investors to defaults and AI disruption.

Adams Street’s third private credit platform focuses on senior financing to sponsored mid-market US and European businesses.

Insurer has committed $400m to five private credit managers this year, according to global head of corporate finance John C S Anderson.

The firm said that redemptions were not motivated by fundamentals, but by a broader trend of investors seeking liquidity from funds elsewhere.

An ex-Goldman Sachs executive will succeed Edwin Wong, with new co-heads for the Asia special situations strategy also in place.

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

Talks between domestic and international regulators will begin in April and continue throughout the summer.

The new venture will focus on decarbonisation strategies in private equity and private credit.

Loans to non-depository financial institutions were some of the fastest expanding areas of lending for large US banks.