Direct lending

New report: Private markets performance data

PEI Group’s quarterly fund performance reports analyse the state of private markets through the lens of our proprietary data to bring you market insights enriched by our reporting and editorial expertise.

Blue Owl’s Lipschultz seeks to quell fears of ‘red flags’ in software portfolio

As the firm reports record AUM, executives on the earnings call say only 8% of AUM is in software lending, with strong loan-to-value ratios.

Positive opportunistic credit test has Marin County eyeing next moves in programme

California pension with about $4bn AUM looks to enter $100m this year into its new dedicated private credit sleeve after hearing more good news from its first credit GPs.

Ares posts record AUM, driven by direct lending fundraising

While the firm’s fundamentals were solid, investors cautious about private credit’s future punished Ares’ shares.

P10 to acquire Stellus Capital for $250m consideration

Initial $250m consideration is composed of $125m in cash and $125m in units of P10.

Loan Note: The five key themes of 2026; why a maturity wall really is now looming

Find out our five key themes of 2026. Also, Axar Capital thinks ‘can kicking’ must come to an end, and Treeline beats target for direct lending fund. Here’s today’s brief for our valued subscribers only.

Specialisation and mega-deals set to prosper

Firms are bifurcating between serving large private equity-backed deals or looking at more niche specialist concerns to stand out in a competitive market.

Carlyle finds value in Europe

‘Europe has always offered a spread pick-up,’ says Taj Sidhu, partner and head of European and Asian private credit at Carlyle.

Sports and media may be a game changer

Investors looking to take more risk in private credit could consider the highly specialised sports and media sector, which is undergoing a major transformation.