Direct lending

KKR expects M&A revival to speed up credit market development

The relationship is coming into even closer focus now, given innovative financing structures, says influential newsletter.

Mid-market loan recoveries, large corporates, converge

Average mid-market loan and revolver recoveries are down to 66% on a trailing five-year basis.

Brighter Super open to new GP relationships following mergers

The A$35bn Australian superfund’s head of credit, Jason Huang, says private credit is ‘definitely not defensive’ but has an important role in its portfolio.

Flexam holds second close of asset finance fund with €50m from EIF

The fund will follow Flexam’s established strategy of securing loans to SMEs against mission-critical assets.

Rithm Capital announces acquisition of Crestline Investors

Rithm expects credit synergies with its asset management platform, and gains insurance and reinsurance foothold

Oaktree’s Marks encourages Oregon to consider private credit opportunities

The co-chair of Oaktree has suggested the $100bn system should chase private credit sub-strategies.

KBRA warns 401(k) order could create a bubble of capital

But ratings agency calls the Trump initiative to democratise access to alternatives ‘profoundly fair’.

How are the Trump administration’s policy changes impacting private credit?

The ‘America First’ approach brings new priorities for lenders, with uncertainty a constant presence.

Arcmont on the growing appeal of NAV for borrowers

GPs are turning towards NAV financing as the market demands more flexible solutions and offers diversification for investors, says Arcmont’s head of NAV Financing, Peter Hutton.

Why appetite for diversification may not be satisfied

With a wide range of strategic options, it may seem counterintuitive that last year saw LPs doubling down on well-established direct lending exposures. For many of them, committing capital to new areas is not as straightforward as it may seem.