Economy

StepStone Group closes $1.58bn credit opportunities fund

The firm’s Credit Opportunities Fund II collected more than double its target and will primarily invest in secondaries and co-investments

Moody’s: Mid-market credit quality erosion is hidden in plain sight

Rising leverage, declining liquidity and a weakening of free cashflows is putting pressure on mid-market issuers.

The illiquidity crisis: Democratised and distressed

Matthias Kirchgaessner examines retail redemption stress, institutional contagion channels and the broader repercussions for the private credit market.

Barings BDC joins peers in gating redemptions after 11.3% is requested

The manager says redemption gates allow the non-listed fund to ‘preserve portfolio integrity and continue deploying capital’.

US regulators aim sights on private debt risk as insurance interest grows

Talks between domestic and international regulators will begin in April and continue throughout the summer.

Moody’s: bank NDFI exposure grows to $1.4trn at year-end 2025

Loans to non-depository financial institutions were some of the fastest expanding areas of lending for large US banks.

Private credit exposure to AI risks driven by incentive structures – report

Private debt funds face exposure to AI-disrupted industries in approaching 60% of assets, driven by a culture focused on origination rather than portfolio management.

KKR on how capital solutions are a structural growth opportunity

Capital solutions strategies afford companies partnerships that are rooted in aligned value creation, with high levels of flexibility, says Blaine MacDougald, partner and co-head of KKR’s Strategic Investments Group.