The Direct Lending Desk 9 stories this week · 111 total

Valcia Asset Management would take over the 2023 Värde Liquid Credit Fund on 1 January 2027, pending regulatory approval.

Kurt Hohl and Brian Daly say disclosure of the context around valuations and their inherent uncertainties can be material for investors in private assets.

The manager will run F2's software across screening, diligence, underwriting and monitoring, and David Golub will chair a new invitation-only AI council.

The first Margay print since Ontario Teachers' Pension Plan agreed in July to commit up to €200m to help scale M&G's European CLO business.

The London fintech funded about 100,000 loans last year and launched a business credit card on 28 September 2026.

Anchorage's platform now runs $26.1 billion of CLO collateral. The fixed cost of managing a CLO does not shrink with the book.

Creditflux's recruitment slowdown is a bet that software replaces the apprenticeship which produces workout lenders.

The second regional fund in a month puts £140m behind £25,000-to-£2m loans, a bracket no unitranche fund can originate at cost.

The asset-based finance strategy has $91bn and no shortage of capital; what the $350m Akrapoint launch buys is a desk that finds mid-ticket collateral.

The platform acquisition is the fast route into collateral-based credit, and the announcement withholds price, book size and funding structure — the three inputs that would show whether Peakline paid for originators or a static lease book.

A $960m print with $99m left to spend and a reinvestment window running into 2029 turns a once-opportunistic trade into the REIT's rated cost of capital for multifamily loans.

In a European market running 30 per cent behind last year, a bank's borrower relationships are worth more than another fund.

A £10m ticket cap and a £350m funding line leave MSP Capital with one real constraint: finding enough loans, which is what a named Midlands hire is for.

Four managers cleared Euro CLOs at the benchmark level after the August break, fixing the funding side of the arbitrage and leaving the pipeline to test what the money will buy.

The $47bn manager is putting a covenant-heavy, floating-rate book on a menu where advisers compare yield first.

A modest cheque from Monroe's equipment finance team reads as the entry price on every lease 36th Street writes next.

The follow-on to June's $35bn financing matters less than the borrower building the desk that will run it.

Private Debt Investor named 40 professionals under 40 on Nov. 1; the useful question is whether that bench was built for the market that just closed or the one now arriving.

A $300m first-year target and a Fortress hire push an owner-lender into the loan sizes the big credit funds leave alone.

The authorisation gives an Italian real estate manager its own AIF vehicle for direct lending, separate from its European debt strategy and pointed at grade A Milan and Rome.

GTIS's rename matters less than the lending platform underneath it, which lands in high-yield property debt just as the corporate direct lending lane contracts.

Hayfin's €15bn fifth fund and the year's other European closes are being bought as diversification from America, and a hedge reprices when the fear behind it does.

The reset wave has reached 2019 vintages, and the managers who cannot write the cheque will be selling collateral instead.

Two New York hires are the inexpensive half of a US CLO platform; loan access and an equity bid are the halves that cannot be hired.

The pipeline counts will bear him out; the covenant packages on the next European unitranche vintage will show what lenders actually paid for the growth.

Ankit Aggarwal placed CLO equity for BofA; at Barings he now owns issuance and capital partnerships across a $55bn platform, a bet that the funding side, not the asset side, is where CLO franchises are won next.

A newly created leverage-solutions role is a cheaper, more reversible bet on private credit's funding squeeze than any vehicle filing would be.

Royal London's third deal and PGIM's Dryden 134 say more about repeat-issuer intent than pricing appetite, and the pipeline is the thing to watch.

A 26 per cent share for professional and business services, ahead of technology's 20 per cent, arrived in a year when European private credit volume is running 30 per cent behind 2025.

James Garforth's résumé points to sponsor M&A as the growth engine, and the next hire will show if Ares plans to hold the loans.

The round splits equity from paper in a way sponsor finance never does, and MUFG is again buying exposure rather than building it.

The bank's in-house advisory desk ran a dual secondaries and primary raise, and if rivals copy it, the secondaries market moves upstream of the fundraise itself.

Infrastructure debt's center of gravity has shifted to bespoke mandates, leaving the fund that gives EIG's platform its name as the smaller half of the raise.

The deal supply helps unitranche volume and hurts spread; the second effect is the one that sticks.

Against £1.5bn of private credit committed since 2010, a £500m facility says more about what Downing could fund than what it could find. The pricing depends on a structure the firm has not described.

The split in LP liquidity — capped retail redemptions, priced institutional exits — now decides where the biggest private credit tickets get placed.