Direct lending

LA pension CIO confident in private credit despite potential froth

As the $87bn California pension approves change to remove a cap on manager names in the portfolio, CIO Jonathan Grabel says the system doesn’t have unique concern about credit market.

Moody’s: Direct lenders losing ground to BSL in refinancing wave

The move to broadly syndicated loans portends a battle over ever-growing mega-deals.

DOWNLOAD: Debt fundraising rings in record Q3

Record fundraising in Q3 for private debt as investors seek stable returns.

Arizona pension sees concerns in default uptick and increased competition

Staff of the $60bn Arizona State Retirement System, a long-time private credit investor, are still mostly optimistic about the asset class amid a push to diversify the programme.

Fitch: Systemic shock could expose private credit’s interconnectedness

The asset class’s growth, alongside spread compression and heightened competition have it approaching bubble status.

Oxane report: Banks are coming back, non-bank lenders will benefit

‘Private Credit+’ is a $45trn opportunity globally. Direct lending, $1.5trn of that amount, is saturated, the report says.

Hamilton Lane’s Perry shares six trends to watch

The MD and head of direct credit discusses where the consumer environment is headed, deal levels, PIK and other market currents.

General Atlantic holds $2bn first close for flagship credit strategy

The North American senior debt fund seeks to find divergent credit opportunities in return for higher yield.

City of Jacksonville eyes doubling private debt commitments

Investment consultant RVK estimates allocation of an additional over $200m would get the pension to its 7% target in 2029.

Carlyle beefs up senior direct lending

Memo outlines new positions to enhance the focus on private credit after a raft of promotions announced in July.