Direct lending

New CalPERS private debt head suggests program is well-positioned for stressed climate

Staff at the $620bn California pension expect the new and increasingly diversified program to perform well amid software exposure concerns and redemption pressure headlines.

EQT’s massive sustainability-linked credit facility leans into materiality

The $4.4bn subscription credit facility reflects a shift in the way sustainability is integrated into private markets investment processes.

Private credit sharpens focus on climate’s missing middle

Recent moves by Lightrock, Nest and Galvanize offer signs that the private credit market is starting to bridge the climate financing gap, but there is still a long way to go.

Ares and Clearstream pen deal to expand wealth manager access

The deal will make Ares’s private markets products available to a wider range of wealth managers.

Amid cautious foray into private credit, WSIB’s consultant confident in timing of program’s launch

Washington heard from its consultant, Albourne Partners, that ramping up a private credit allocation in a stressed market may allow for stronger documentation and higher spreads.

HSBC raises $2bn for UK direct lending second vintage

The strategy involves investing in private equity-backed deals originated by HSBC’s UK banking arm.

Crescent Capital closes fund with $10.8bn of investable capital

The fourth vintage lower mid-market fund, the manager’s largest ever, raised more than $5.5bn of equity.

ACC, Configure: Stress appears contained, but lenders are taking no chances

Although AI disruption and other threats remain increasingly relevant, Houlihan Lokey data shows resilient portfolio dynamics.

Eurazeo closes fund VII above target on €3.9bn

The fund’s strategy also raised substantial capital from private wealth investors.

Goldman Sachs AM appoints new co-head of APAC client solutions

The US firm has hired an executive from JP Morgan, as insurers and other allocators continue to push into private credit, Private Debt Investor can reveal.