Some EM Debt May Be Getting More Attractive, Says Gramercy
Gramercy Capital notes that emerging‑market (EM) sovereign and corporate debt is becoming more attractive as elections in three major economies are likely to trigger structural reforms. The firm expects policy shifts to improve fiscal discipline, reduce currency volatility, and deepen local capital markets. These changes could narrow EM credit spreads and boost investor demand. Gramercy advises allocating a modest portion of portfolios to EM debt to capture upside while managing political risk.
Adams Street Calls for Greater Transparency From BDCs and Interval Funds
Adams Street Capital Management is urging business development companies (BDCs) and interval funds to adopt a new transparency framework. The firm outlined six concrete metrics—covering liquidity, portfolio concentration, leverage, valuation methods, cash flow, and redemption policies—to replace vague reassurances. By...
Loan Note: Nothing Wrong with Cautious Deployment, Korea LPs Urge; Mis-Selling Cited as Redemption Root Cause
Korean limited partners (LPs) cautioned investors to slow capital deployment during Japan Korea Week, warning that aggressive funding could exacerbate market volatility. They identified misleading marketing of evergreen funds as the primary driver of recent redemption spikes, with some managers...
Comvest Partners Raises $2.63bn for Flagship Credit Strategy
Comvest Partners announced the closing of its flagship private credit fund, Comvest Credit Partners VII, at $2.63 billion, surpassing the original $2.5 billion target. The fund, which targets middle-market leveraged loans and high-yield debt, attracted commitments from a broad base of institutional...
DOWNLOAD: Q1 2026 One of the Most Prolific Fundraising Quarters on Record
The private‑debt sector posted a record‑breaking fundraising quarter in Q1 2026, marking one of the most prolific capital‑raising periods in its history. Institutional investors poured fresh money into private‑debt funds, offsetting lingering skepticism among retail participants. The surge reflects strong demand...
Addressing Trustee Anxiety About Headlines, Chicago’s Consultant Stresses Credit’s Insulation From Issues
Chicago’s $14 billion pension plan hired consulting firm Callan to calm trustee nerves sparked by recent headlines about private‑credit volatility. The consultant presented a broad view of tailwinds supporting the asset class, from growing retail investor participation to historically low default...
Adams Street Partners Holds $7.5bn Final Close
Adams Street Partners announced the final close of its third private credit platform, securing $7.5 bn in commitments. The fund will focus on senior financing for sponsored mid‑market companies across the United States and Europe. By targeting senior debt, the platform...
The Illiquidity Crisis: Democratised and Distressed
Matthias Kirchgaessner’s latest editorial dissects an emerging illiquidity crisis that now spans both retail and institutional investors. He highlights a 40% year‑over‑year jump in retail fund redemptions during Q1 2024, while institutional portfolios confront tighter liquidity covenants and heightened margin calls....
Samsung Asset Management Eyes Credit Secondaries, Co-Investments
Samsung Asset Management announced it will pursue credit‑secondaries and co‑investment opportunities, aiming to add a layer of downside protection amid volatile macro trends. Head of OCIO Seong Sup Cho said the strategy lets the firm move against the herd rather...
Manulife to Deploy More than $2bn in Private Credit
Manulife Financial announced it will allocate more than $2 billion to private‑credit investments in 2024, with an initial $400 million committed to five specialist managers. The capital will be used for senior secured loans, mezzanine debt and other specialty financing structures. The...
Loan Note: ‘Asset-Light’ Model Under Scrutiny; Square Nine Teams with Liberty Mutual
The private‑equity‑driven “asset‑light” model, popular in private credit, is facing heightened scrutiny over risk concentration and valuation transparency. Meanwhile, debt platform Square Nine announced a strategic partnership with insurer Liberty Mutual to expand its capital‑raising capabilities. In the UK, pension...
Carlyle Interval Fund Limits Outflows After 15.7% of Assets Requested for Redemption
Carlyle’s flagship interval fund announced it will limit outflows after investors submitted redemption requests totaling 15.7% of the fund’s net asset value. The firm said the surge in withdrawal requests reflects a broader market shift toward liquidity rather than concerns...
Loan Note: Fundraising Maintains Momentum in Q1; Moody’s Takes Dimmer View of BDC Market
Fundraising in the private‑debt space remained strong throughout Q1, even as semi‑liquid funds grapple with a surge in redemption requests. Investors are also wary of AI‑driven disruption in software‑focused loan portfolios, adding a layer of credit risk. Moody’s shifted its...
Ares Names New Asia Credit Head
Ares Management has appointed a former Goldman Sachs executive as the new head of its Asia credit platform, succeeding Edwin Wong. The change coincides with the addition of co‑heads for the firm’s Asia special situations strategy, signaling a broader leadership...
Barings BDC Joins Peers in Gating Redemptions After 11.3% Is Requested
Barings Business Development Company (BDC) announced it will gate investor redemptions after receiving redemption requests totaling 11.3% of net asset value. The move aligns with recent actions by peer BDCs seeking to preserve portfolio integrity amid heightened withdrawal pressure. Barings...