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September 2025 • Issue 279
Global credit funds & CLOs
News
News
Equity funds keep CLO market active even as arb thins
READ MORE
‘We like managers that are honest about the risks’
READ MORE
Regulators fret over hidden risks as tentacles of private credit reach deep into banks
READ MORE
Surge in direct lenders’ debt-equity swaps makes trouble for LPs
READ MORE
How it took four years to close a loophole — and throw European CLOs into chaos
READ MORE
84
Number of ‘fix’ notices issued across eight CLO managers to 5 September after EBA’s risk retention update
(Figure from Deutsche Bank)
6%
‘Shadow default rate’ faced by US direct lending market at end of Q2
(Figure from Lincoln International)
$98bn
Size of alts platform created by Rithm’s acquisition of Crestline Management
53%
Surge in private credit investments in India during H1 2025
(Figure from EY)
Analysis
Analysis
THEY SAID IT
I’m gonna punch you in your f--king face
At a dinner for some of Donald Trump’s closest allies, US Treasury secretary Scott Bessent suggested he would administer a novel form of Capitol punishment to housing finance chief Bill Pulte — and all because (according to Politico) Pulte was supposedly badmouthing Bessent to the president.