Fund Management

Performance data provides clues to LP sentiment

Investors are not without concerns but are happy to keep increasing their private debt allocations.

Ares posts record AUM, driven by direct lending fundraising

While the firm’s fundamentals were solid, investors cautious about private credit’s future punished Ares’ shares.

Why BDC troubles might be hard to shake off

The business development company market in the US is already coming under pressure – and a high exposure to the software sector may make things worse.

Specialisation and mega-deals set to prosper

Firms are bifurcating between serving large private equity-backed deals or looking at more niche specialist concerns to stand out in a competitive market.

Question marks over liquidity in semi-liquid funds

Recent events lead to queries about how much advantage investors receive from the ‘illiquidity premium’.

Investors tender $527m of shares in tech-focused Blue Owl BDC

The manager previously moved its redemptions threshold to 17% from 5%.

Credit secondaries is set for another banner year

Credit secondaries ranked second only to PE in deal volume across both LP-led and GP-led transactions in 2025.

Investor support for North America starts to fade

Our latest snapshot of LP opinion appears to suggest capital flows may be changing direction.

Senior debt fundraising falls from its peak

Our data for private credit capital raising by strategy shows investors once again diversifying their commitments rather than concentrating them.