Investor Intentions: SMFL MIRAI Partners to Expand and Diversify Its Portfolio in 2026
SMFL MIRAI Partners announced a 2026 capital deployment plan of roughly $300 million to $500 million across multiple funds. The firm aims to broaden its investment universe and diversify holdings beyond its core positions. This allocation underscores a strategic push into private debt and alternative assets as institutional capital seeks higher yields. The move reflects confidence in market opportunities despite a tightening macro environment.
Fitch: Default Events in January Double Last Year’s Average
Fitch reported that private credit defaults surged in January, with 11 events—double the average monthly defaults recorded last year. Over the trailing twelve‑month period the sector logged 89 defaults, highlighting an accelerating distress trend. The uptick reflects tightening credit conditions...
Loan Note: The Rise of the Zombie Funds; Record Year for Emerging Market Private Credit
The loan‑note briefing highlights a surge in so‑called “zombie” funds that continue to chase low‑yield opportunities despite deteriorating market conditions. At the same time, emerging‑market private credit achieved a record deployment year, reflecting strong investor demand for higher returns. Arctos’s...
Fairfax Times the Cycle with a Bet on a Manager Intent on Scaling Its Credit Business
Fairfax Financial is timing the market cycle by investing in Kennedy Wilson’s credit platform as the real‑estate firm prepares for privatization. Kennedy Wilson has steadily expanded its real‑estate debt capabilities while maintaining a global equity presence. The move reflects Fairfax’s...
Arcmont Almost Doubles Size of Previous Capital Solutions Fund
Arcmont’s latest capital‑solutions fund marks a significant scaling moment for the European private‑debt manager. The €1.5 billion close, announced by its Nuveen affiliate, almost doubles the €800 million raised for the inaugural vehicle, reflecting robust capital inflows into non‑bank lending. Across the...
Eldridge Closes on Lease Facility with ProPetro Energy
Eldridge has closed a lease financing facility with ProPetro Energy, which operates under the PROPWR brand. The agreement provides the capital structure needed to advance PROPWR’s plan to deliver 750 MW of power by 2028. The lease facility lowers ProPetro’s upfront...
The Worst of Times May Be the Best of Times for Private Credit, Says Oaktree’s Hobbs
Deputy CIO of Oaktree Capital, Hobbs, told the NEXUS 2026 conference that private‑credit spreads have stopped falling and now sit on a floor, turning a challenging market into a source of value. He explained that tighter bank lending and higher...
26North Founder Josh Harris Sees Mid-Market as Private Credit Sweet Spot
Josh Harris, founder of 26North, told PEI Group’s NEXUS conference that the firm is targeting the mid‑market segment as the sweet spot for private credit. He noted that even though the credit cycle is in its later stages, a pronounced...
Loan Note: Nexus 2026 Is Under Way; Venture Debt Performance Under Scrutiny
Private market leaders are gathering at Nexus 2026, the flagship conference spotlighting emerging trends in venture debt. MSCI’s latest data shows a slowdown in venture debt performance, with rising default rates and lower returns compared to previous years. Meanwhile, LBP...
Blue Owl Halts Quarterly Redemptions in a Non-Traded BDC
Blue Owl Capital Corp II, a non‑traded business development company, has halted its quarterly redemption program, effectively gating investors. The manager simultaneously sold approximately $1.4 billion of loans across three of its BDC portfolios to bolster liquidity. The redemption freeze and...
LPs Reveal Their Biggest Frustrations with GPs
Ahead of PEI’s NEXUS conference, a new survey of limited partners (LPs) uncovered the top sources of friction with private‑equity general partners (GPs). The research highlights persistent issues such as opaque performance reporting, unpredictable capital calls, and fee structures that...
Tikehau Latest Manager to Close Credit Secondaries Fund as Market Fires on All Cylinders
Tikehau Capital’s second credit‑secondaries fund closed with over $1 billion in commitments, less than a year after its first vehicle launched in H2 2023. The rapid close reflects soaring investor appetite for private debt secondary transactions, which offer immediate cash flow and...
The Increasing Visibility of Stress
The latest editorial highlights that Business Development Companies (BDCs) are increasingly mirroring broader credit stress in the market. Deteriorating loan performance and tighter financing conditions are evident across BDC portfolios. At the same time, a looming maturity wall—large volumes of...
Loan Note: Carlyle’s Sidhu on the European Opportunity; Configure Highlights Mixed M&A Picture
Carlyle’s Taj Sidhu expressed optimism about Europe’s private‑debt market, citing strong borrower resilience and attractive financing conditions. He highlighted low‑interest‑rate environments and a growing pipeline of mid‑market deals as catalysts for continued asset growth. Meanwhile, Configure’s latest M&A snapshot described...
Schroders Capital Hires Asia Fundraising Head From Oaktree
Schroders Capital has appointed Sabrina Meng as its new Head of Asia Fundraising, transitioning from Oaktree Capital Management. Meng will assume the role next month, bringing extensive experience in private‑debt capital raising across the region. The move underscores Schroders' ambition...