Direct lending

The fund is part of a joint venture with SMBC and aims to have €5bn of total deployable capital.

The fund, launched in 2023, exceeded s $4.5bn target, and will focus on both public and private firms.

MLEND will be available to clients of financial advisers through US-based RIA and broker-dealer networks

Despite low payment defaults, signs of stress could see more firms get into difficulty next year, according to KBRA. Also, Andalusian provides a debt package for a music rights platform. Here’s today’s brief for our valued subscribers only.

The UK’s central bank has published details of its upcoming stress test of private credit markets and confirmed some of the firms taking part.

Peter Cashion, managing director for sustainable investments at the Californian state employees’ pension plan, is encouraging the real assets and private debt teams to engage with more emerging and diverse fund managers.

As private credit becomes an increasingly crowded market, Chris Hedberg of AllianceBernstein explains what is required to seize upon the best opportunities.

The burgeoning direct lending market in India offers huge potential but there are key nuances that GPs and LPs need to consider, says True North’s Kapil Singhal.

Investors prioritise asset-based finance and special situations as direct lending margins come under pressure, our LP Perspectives 2026 Study shows.