The Wrap: archive
Every The Wrap story in Private Credit, newest first. 82 stories
1 story
Apollo to take minority stake in $60bn Mubadala Capital
Apollo and other new minority shareholders expect to commit an aggregate $5 billion to the manager's strategies at an initial close.
3 stories
ACORE hires Apollo's Manning; Sagard opens $5.9bn to advisors
Initial reports did not include wrapper, fee, minimum or redemption terms for either channel.
iwoca adds €185m German line; Ignite seeks £500m
The German line takes iwoca's total commitment past €560m; former ThinCats managing director Ravi Anand is seeking £500m for Ignite.
Tikehau deploys €943m of credit in busiest 2026 quarter
Add-on loans to existing borrowers were about 45% of direct-lending deployment in the first nine months, the quarterly update says.
3 stories
Blackstone raises $18bn for infrastructure and asset-based credit, including $16.5bn from insurers
Credit and insurance inflows reached $35.8bn in the third quarter, lifting assets to $480bn.
Sound Point hires Ninety One trio for European secured lending
Chris Rust and Lei Lei join as co-heads; the partnership is intended to support completion of the Ninety One European Credit Opportunities Fund 1.
Carne Group research finds 96% of private credit managers using AI
Remaining 4% plan to adopt within 12 to 18 months; Allvue's Brad Small says AI could let a deal team screen 10 opportunities in the time of one.
1 story
Arini closes first European direct lending fund with $4bn-plus target
Pensions, sovereign wealth funds and other institutions backed the fund, which had close to $2bn deployed at close.
2 stories
Macquarie Asset Management hires Blackstone's Linso Pals to lead credit fundraising
He will be responsible for global capital raising across private and liquid credit strategies.
CIC Private Debt prices €403.75m Victory Street CLO III through BNP Paribas
The deal drew ten new investors alongside existing backers and priced €96.25m above the €307.5m August reset of Victory Street CLO I.
2 stories
Nuveen Private Capital passes $100bn in committed capital
The Churchill-Arcmont platform says it invested $27bn across more than 400 middle-market deals in the past year and remains 93 per cent institutional.
Goldman, Phoenix form credit partnership; Japan PFA lifts alternatives to $19bn
Phoenix Financial gains access to Goldman Sachs Alternatives' private investment-grade, senior direct lending and opportunistic credit capabilities.
2 stories
Direct lenders shift origination toward energy, defence and hard assets
Investec's Greg Betz says activity has centred on "old economy sectors," while Canyon and Federated Hermes cite energy and defence spending, per Alternative Credit Investor.
Main Street Capital's preliminary Q3 metrics point to a softer quarter, BDC Reporter says
BDC Reporter's weekly recap also says BDC common stocks dropped again in the week ended Oct. 9.
2 stories
Monroe Capital lists Vienna ETN for lower-middle-market direct lending
The US dollar note, issued by PM Alpha Designated Activity Company, carries a $50,000 minimum and is not offered in the United States or to US persons.
Arcmont CIO says US lender retreat reduced European mid-market competition
Arcmont is seeing extra spread, better terms and less leverage on mid-market loans, according to Mattis Poetter.
1 story
Moody's estimates 35% of US life insurer investments go to private credit
The NAIC review of the rated-note feeder structures insurers use to reach the asset class is ongoing.
1 story
Bridgepoint, GFH Bank and AIP Capital are building a $1bn engine leasing platform
GFH Bank holds the cornerstone investor and strategic partner roles, and AIP Capital will lead engine sourcing and trading as the partners raise outside capital.
2 stories
M&G seeds £74m private credit LTAF in part with with-profits cash
The Diversified Private Credit Feeder LTAF targets UK defined contribution schemes and sits inside M&G's £28bn private and structured credit platform.
Apollo extends daily pricing as Deloitte finds 4% fully revalue daily
Deloitte counts 48% of private credit fund groups refreshing valuations daily on observable market inputs, while BlackRock puts first-lien software loans at about 97% of cost in the second quarter.
2 stories
Tokio Marine anchors $300m first close of BlueOrchard and IFC's $2bn emerging-market debt fund
The evergreen vehicle targets pension funds, insurers and sovereign wealth funds.
Brightwood Capital Advisors prices $253.55m CLO with GreensLedge as placement agent
Insurers, banks and asset managers indicated interest in notes rated AAA through BB, Brightwood Capital Advisors said.
4 stories
Endowus launches CVC-managed European direct lending strategy in Singapore and Hong Kong
The announcement names the manager and the two markets but not target size, minimum commitment, fees, liquidity terms or vehicle structure.
Liberty Mutual gets a $750m Orion option; HanseMerkur fund targets €500m
Orion and Liberty Mutual have jointly committed $240m so far to the Credit Income Strategy, and HanseMerkur Grundvermögen has already issued a €40m green loan.
Debtwire counts 39 French H1 2026 restructuring mandates as lenders take ownership
The counted mandates cover €14.57bn of debt; Alvarez & Marsal ties lenders' stronger hand to a 2021 cram-down reform.
Debtwire counts 39 French H1 2026 restructuring mandates as lenders take ownership
The counted mandates cover €14.57bn of debt; Alvarez & Marsal ties lenders' stronger hand to a 2021 cram-down reform.
1 story
M&G rehires Duncan Batty to lead real estate finance; Triple Point lends £55m to Perch Group
Batty returns to the £14bn-plus real estate finance arm after 12 years at M&G and a Revolut lending role; the Triple Point loan sits inside a £400m package with NatWest, Shawbrook and Paragon.
1 story
Tikehau lists private credit ELTIF on iCapital; StepStone and ASB launch Shari'ah fund
Tikehau's Luxembourg evergreen fund reaches wealth managers through iCapital's existing ELTIF 2.0 shelf; StepStone and ASB Capital's open-ended Shari'ah-compliant vehicle will lend mainly to US middle-market companies.
2 stories
Toni McDermott of Arrow Global maps three private credit origination routes
The Private Debt Investor commentary separates direct origination, bank partnerships and synthetic risk transfer, and Arrow Global's €5.2bn fundraising went more to legacy credit than new loans.
WhiteHorse Finance puts itself up for sale, BDC Reporter reports
The report names no buyer, price or timetable, as BDC Reporter called the sector's week one of its worst and Apollo pushed daily marks across an $850bn credit book.
2 stories
Oaktree closes $2bn asset-backed fund as four managers still report zero sold
Oxford Finance raised $368m in five loans averaging above $70m, and Fidelity closed a $451m real estate debt fund.
Apollo extends daily pricing to $850bn credit book; Metrics gates three ASX funds
Apollo's $1tn platform carries the July cadence into direct lending marked from internal models, while 9fin's Q2 BDC watchlist puts information technology at just under 36 per cent of $4.19bn in marked-down fair value.
2 stories
Golub Capital invests $5m in AI credit developer F2 and deploys it across underwriting
9fin's Q2 BDC watchlist shows information technology at just under 36% of $4.19bn in marked-down fair value, with more than half the flagged credits maturing by 2029.
Metrics Credit Partners suspends three ASX fund redemptions after KPMG valuation dispute
The Australian manager marked the vehicles down by as much as 12.16 per cent, and the coverage describes no borrower default behind the gate.
1 story
Pemberton hires CLO head as Kartesia prices €459m and Värde hands off liquid fund
Kartesia's €459m debut clears at +129bp without arranger participation, four months after its loan-management launch.
1 story
New York Life takes majority stake in $20bn Invictus as M&G prices €457m CLO
The deal brings Invictus's Verus Mortgage Capital loan-sourcing platform under New York Life; M&G's fifth Margay CLO prints at €457m after Ontario Teachers' July €200m commitment.
1 story
BDC shares fell again as the wider market rose, leaving third-quarter marks to explain why
A weekly price cannot separate a funding-cost repricing from a credit warning; the marks, especially loans held below 90, will show which.
2 stories
Private credit's distribution war moves to the insurance shelf
BSP hired the coverage, Aegon built the wrapper, Enercon sold the pipeline. The three moves are one trade, and the firms building now are betting the anchor pool reprices later.
The wealth wrapper is now the product
Same-day moves from Blackstone and Infranity show private credit's next scarcity is the distribution shelf.
1 story
Private credit's 1.7% quarter came from the wrong sleeve
The composite improved on the sleeve allocators don't buy, and the week's deals show the industry paying for origination instead of capital.