Software-sector weakness, liquidity concerns and a series of bad underwriting vintages are all widening the moat between public and non-traded private credit vehicles, according to Oaktree Capital Management’s Armen Panossian.
Software-sector weakness, liquidity concerns and a series of bad underwriting vintages are all widening the moat between public and non-traded private credit vehicles, according to Oaktree Capital Management’s Armen Panossian.
Armen Panossian, co-chief executive officer of Oaktree Capital Management LP, during a Bloomberg Television interview in London, UK, on Monday, June 30, 2025. US banks are kicking the commercial real estate can down the road, Panossian said. Photographer: Betty Laura Zapata/Bloomberg
Stephen and Blake Nesbitt built their modest consulting business into a private credit giant. Now their industry connections are being scrutinized as investors rush for the exits.
Stephen and Blake Nesbitt built their modest consulting business into a private credit giant. Now their industry connections are being scrutinized as investors rush for the exits.
S&P Global Ratings lowered its outlook on Cliffwater LLC’s flagship private credit fund to negative from stable, citing elevated redemption requests that risk putting pressure on its liquidity.
S&P Global Ratings lowered its outlook on Cliffwater LLC’s flagship private credit fund to negative from stable, citing elevated redemption requests that risk putting pressure on its liquidity.
The snow-covered San Gabriel mountain range past the downtown Los Angeles skyline after a winter storm in Los Angeles on March 2, 2023. Photographer: Eric Thayer/Bloomberg
Default rates in direct lending will climb to 8% as advances in artificial intelligence continually disrupt the software industry, according to Morgan Stanley.
Default rates in direct lending will climb to 8% as advances in artificial intelligence continually disrupt the software industry, according to Morgan Stanley.
A Morgan Stanley logo hangs in the window of a retail brokerage office in New York, Thursday, July 28, 2005. Morgan Stanley, the world's biggest securities firm, is eliminating about 1,000 retail brokers to boost profitability in a business that trails Merrill Lynch & Co. and Citigroup Inc.
Rebecca Pacholder, founder of hedge fund Snowcat Capital Management and a protege of billionaire Leon Cooperman, has been appointed as senior managing director of investment firm EnTrust Global.
Rebecca Pacholder, founder of hedge fund Snowcat Capital Management and a protege of billionaire Leon Cooperman, has been appointed as senior managing director of investment firm EnTrust Global.
The world’s largest alternative asset managers are confronting a painful choice: Block investors who want to exit private debt funds and deal with potential blowback, or honor the requests and betray their guiding principles.
The world’s largest alternative asset managers are confronting a painful choice: Block investors who want to exit private debt funds and deal with potential blowback, or honor the requests and betray their guiding principles.
UFC and WWE operator TKO Group Holdings, Inc. launched a nearly $1 billion offering in the leveraged loan market, according to a person familiar with the transaction, after the company announced a dividend to equity holders on Wednesday.
UFC and WWE operator TKO Group Holdings, Inc. launched a nearly $1 billion offering in the leveraged loan market, according to a person familiar with the transaction, after the company announced a dividend to equity holders on Wednesday.
Micheal Bisping, left, punches Cung Le during Ultimate Fighting Championship (UFC) Fight Night at Cotai Arena.
Business development companies are sitting on a massive pile of leveraged loans, which could be sold to meet redemption requests and push spreads wider, according to Deutsche Bank AG analysts.
Business development companies are sitting on a massive pile of leveraged loans, which could be sold to meet redemption requests and push spreads wider, according to Deutsche Bank AG analysts.
Falling income, slashed dividends and loan markdowns: the results from some of the most transparent private credit funds this week have done little to soothe investors concerned about cockroaches in the market.
Falling income, slashed dividends and loan markdowns: the results from some of the most transparent private credit funds this week have done little to soothe investors concerned about cockroaches in the market.
As concerns continue to mount about loans to software companies, one private credit fund is calling itself a relative “safe haven” due to lack of exposure.
As concerns continue to mount about loans to software companies, one private credit fund is calling itself a relative “safe haven” due to lack of exposure.
A $330 million leveraged loan to two units of methanol maker Consolidated Energy Ltd. is being marketed at what would be the biggest discount in over two years.
A $330 million leveraged loan to two units of methanol maker Consolidated Energy Ltd. is being marketed at what would be the biggest discount in over two years.
The share of private equity-backed companies that deferred cash interest payments ticked higher for a third consecutive quarter, pointing to growing signs of stress, according to Lincoln International.
The share of private equity-backed companies that deferred cash interest payments ticked higher for a third consecutive quarter, pointing to growing signs of stress, according to Lincoln International.
Secondaries firm Coller Capital closed a deal to extend the life of an Ares Management Corp. private credit portfolio, amassing more than $1.3 billion in total commitments.
Secondaries firm Coller Capital closed a deal to extend the life of an Ares Management Corp. private credit portfolio, amassing more than $1.3 billion in total commitments.
The Ares Management offices in Los Angeles, California, US, on Friday, Feb. 6, 2026. The Ares Management Corp. tumbled Thursday in a broad selloff among alternative asset managers over fears of AI disruption, even as the firm reported that it ended the fourth quarter with record assets.
A string of private credit deals in recent weeks suggests some of the world’s most deep-pocketed investors are getting behind Europe’s defense build-up.
A string of private credit deals in recent weeks suggests some of the world’s most deep-pocketed investors are getting behind Europe’s defense build-up.
Private credit could see default rates surge to as high as 13% in the US if artificial intelligence triggers an “aggressive” disruption among corporate borrowers, according to UBS Group AG.
Private credit could see default rates surge to as high as 13% in the US if artificial intelligence triggers an “aggressive” disruption among corporate borrowers, according to UBS Group AG.
Tailored Brands Inc., the parent company of Men’s Wearhouse, boosted its loan and bond offerings by a combined $200 million to fund an even larger dividend payout to its owners.
Tailored Brands Inc., the parent company of Men’s Wearhouse, boosted its loan and bond offerings by a combined $200 million to fund an even larger dividend payout to its owners.
Pedestrians pass in front of a Men's Wearhouse store in New York.
Men’s Wearhouse has begun marketing a $400 million junk bond, offering one of the highest yields of the year, as the clothing retailer seeks funds to pay owners following one of the busiest periods ever for debt-funded dividends.
Men’s Wearhouse has begun marketing a $400 million junk bond, offering one of the highest yields of the year, as the clothing retailer seeks funds to pay owners following one of the busiest periods ever for debt-funded dividends.
People stand in the doorway of a Mens Wearhouse Inc. store in San Francisco.
Legal software firm Relativity ODA LLC has cut borrowing costs on existing private debt in the leveraged loan market, the latest example of public market investors displacing private lenders.
Legal software firm Relativity ODA LLC has cut borrowing costs on existing private debt in the leveraged loan market, the latest example of public market investors displacing private lenders.
The JPMorgan Chase & Co. headquarters in New York.
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