Private credit news covering direct lending funds, BDCs, leveraged loans, fundraising, defaults, and the rapid growth of non-bank corporate lending.
Blackstone will keep a 5 percent cap on withdrawals from its $43 billion Private Credit Fund as redemption requests remain high at 10 percent of the fund's value. The firm faces a $2.3 billion backlog of unfulfilled requests, while the broader industry contends with stressed loans to highly leveraged software companies.
Australian asset manager IFM Investors plans to allocate up to 50% of its roughly $1 billion private credit fund to Asian markets. The firm intends to direct 25-35% of the capital to Southeast and South Asia, citing untapped opportunities and favorable deal structures.
Private credit lenders reduced valuations on specific software sector loans during the second quarter, despite broader portfolio stabilization. Concurrently, the volume of non-income-generating debt rose, as reported by Reuters.
James Thomson argues that private credit markets must intervene to rescue Bathla Group, as the home builder's administrator secures only partial wage payments. The commentary contends that without immediate short-term funding from private lenders, the company faces imminent collapse despite ongoing efforts to secure longer-term financial solutions.
Marcus Maier-Krug of Arcmont Asset Management discusses the current state and dynamics of European private credit markets. The commentary provides insights from a portfolio management perspective on trends within the European alternative investment sector.