With direct lending powerhouse HPS in the fold, the world’s largest asset manager is pushing past its own challenges to angle for a large slice of the industry’s future.

Sixth Street Partners and KKR & Co. have agreed to provide $1 billion of preferred equity to biotechnology company BridgeBio Pharma Inc., according to people with knowledge of the matter.

The billionaire behind Thoma Bravo is seeking to reassure investors that the private equity firm is ready to embrace AI — and that its losing bet on Medallia is a one-off.

The boom in artificial intelligence investment is a “fundamental, generational” phenomenon driving markets and filtering through to the economy at large, said Christina Minnis, global head of the alternatives origination group at Goldman Sachs Group Inc.

The boom in artificial intelligence investment is a “fundamental, generational” phenomenon driving markets and filtering through to the economy at large, said Christina Minnis, global head of the alternatives origination group at Goldman Sachs Group Inc.

A group of banks led by JPMorgan Chase & Co. is expected to shoulder paper losses of more than $500 million on a debt deal for software firm Qualtrics International Inc., according to people with knowledge of the matter.

Meta Platforms Inc. is working on a financing package for a data center in El Paso, Texas, that could total roughly $13 billion, underscoring Big Tech’s growing reliance on debt to bankroll the infrastructure behind the AI boom.

Private equity firm KPS Capital Partners is buying the discounted debt of its own company, Oldcastle BuildingEnvelope, in a bid to secure the upper hand in the glass giant’s looming financial overhaul.

Strategic Value Partners founder Victor Khosla expects years of elevated defaults in credit markets and is preparing to take advantage of opportunities created by greater dispersion among private credit managers.

Strategic Value Partners founder Victor Khosla expects years of elevated defaults in credit markets and is preparing to take advantage of opportunities created by greater dispersion among private credit managers.

Months before Jamie Dimon’s infamous remark about more than one “cockroach” lurking in credit markets, TCW Group Inc. Chief Executive Officer Katie Koch warned the direct lending industry was due for a reckoning.

Starwood Capital Group Management is halting redemptions from a $22 billion real estate fund aimed at retail investors in a bid to preserve liquidity while it waits for the commercial real estate market to improve.

Ares Management Corp. wrote down the value of loans to three Clearlake Capital Group-owned software businesses, as it warns of difficult conversations ahead with companies vulnerable to disruption from artificial intelligence.

Blue Owl Capital Inc. Co-Chief Executive Officers Doug Ostrover and Marc Lipschultz have revised the terms of personal loans to remove the company’s shares as collateral, after turmoil in the private credit market hammered the stock’s value in recent months.

A group of private credit firms led by Blackstone Inc. has refused to extend another lifeline to software company Medallia, amping up pressure on owner Thoma Bravo to inject more equity into the troubled business or hand over the keys via a debt restructuring.

Private credit funds already under strain from heavy redemptions have a new pain point: losses in February are shaping up as the worst in more than three years.

Oaktree Capital Management is meeting all redemption requests it received for a $7.7 billion private credit fund aimed at retail investors, siding with managers that have decided against enforcing a cap on withdrawals.

A private credit fund managed by Ares Management Corp. posted its steepest monthly loss on record in February, providing further evidence of deteriorating performance in the $1.8 trillion private credit market.

A private credit fund jointly run by Future Standard and KKR & Co. lost one of its investment-grade ratings, a rare occurrence in the $1.8 trillion private credit market that could result in higher borrowing costs for the $14 billion investment vehicle.

Blackstone Inc.’s flagship private credit fund posted its first monthly loss in more than three years, one of the clearest signs yet of weakening performance in the $1.8 trillion market.