Private Credit

Price talk on the new debt is S+600, and the financing will extend maturities by five years.

Lenders have reined in their exposure to software companies this year, putting software borrowers with upcoming debt maturities in a bind.

Speaking at the CAIS conference in LA this week, the head of the $23.8B lender spoke out against maneuvers being employed to mask the health of credit portfolios.

The transaction included a new senior secured credit facility provided by US Private Credit Investments, a division of BTG Pactual.

Lenders are drawn to the sector’s diversified industrial end markets with long-term demand and revenue visibility.

The European Private Credit Monitor provides a high-level view of private credit market activity. Topics covered include counts and estimated volume, spread distribution and leverage.

The continuation vehicle transaction will provide liquidity to WhiteHorse investors and lead to the delisting of the public BDC, which trades below its book value.

The last time this near-term maturity wall for BDCs approached 20% of total outstandings was at the peak of Covid-19 disruption.

The US Private Credit Monitor provides a high-level view of private credit market activity. Topics covered include estimated volume and counts, spread distribution, syndicated and direct lending takeouts, and middle market CLO issuance.

Once the darling of the direct lending industry, the software space is now a harder sell for lenders.

Skeleton crew at Trump’s SEC, using dead folks’ names to back 401(k) plan, and other spooky treats for the alternatives industry.

Goldman Sachs Private Credit Corp. received repurchase requests for 2% of shares outstanding in Q3, down from 3.24% in Q2.

Software and second-lien loans account for 89% of the year-over-year increase in distressed debt.

Once the private credit industry’s darling, the software space has become a much harder sell for direct lenders.

European dealmakers left the IPEM conference in Paris split on what the rest of the year holds for the market.

The number of BDC-held companies that showed some degree of credit pressure rose to 583 as of June 30, up 8% from March and 25% from year-end 2025.

Credit funds of $5 billion or larger accounted for 57% of H1 fundraising, though PE sponsors are increasingly turning to banks for better-priced loans.

PitchBook’s Private Credit League Tables, covering Q2 2026, are now available in an interactive format.