Private Credit

A steady stream of retail redemptions is hamstringing large direct lenders, creating an opening for banks and the broadly syndicated market.

HVAC is just one of the specialty trades that PitchBook expects to keep benefiting as data center construction drives demand for ancillary activity, including additional site work, electrification, and supporting infrastructure, well into 2027.

Fasanara Capital, based in London, will be the investment manager of the fund and will target short-duration, asset-backed credit strategies.

Direct lenders provided an estimated $28 billion across 124 sponsor-backed deals over the past three months, up from $23 billion across 101 deals in Q2.

Redemption requests at non-traded BDCs appear to remain elevated as the first Q3 figures come in.

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.

A quarterly look at performance, capital flows, and perpetual capital growth across the publicly traded alternative asset managers.

The amount of capital raised for dividend recapitalizations is down 40% year-over-year, but fading optimism about the exit market could spark a turnaround.

Anchor LPs include sovereign-linked funds from Singapore, Malaysia and Indonesia.

Franklin Templeton’s $1.5 billion deal is the latest in a wave of CFOs, even as regulators grow warier of the insurance risks the structures are meant to manage.

The recapitalization transaction lowers the company’s debt by about 65% and provides $75 million of new capital.

The firm said the share of private companies that reported year-over-year revenue growth totaled 70.7% in Q2, up from 69.6% in Q1.

Incumbent lender Eagle Point Credit Management served as lead investor on the loan.

Debt tranches in non-accrual status at the top ten BDCs rose to 3.95% of total debt at cost in Q2, up 20 bps from the prior quarter.

The most recent European direct lending data shows a boost in deal count and estimated volume.

The Swiss firm raised capital from a single, unnamed Asian institutional investor.

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.

Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR all formed strategic partnerships with NVIDIA to establish independent financing platforms.