BlackRock's $220B Private Credit Machine: What HPS Changes for Direct Lending and What It Means for Investors
According to BlackRock's official press release , the firm completed its acquisition of HPS Investment Partners in July 2025, creating a private credit platform managing approximately $220 billion in
Ares $3.4 Billion Credit Secondaries Deal: What the Largest Private Credit Sale Ever Means for LP Liquidity
TL;DR: According to Benzinga reported July 27 , Ares Management is moving to sell $3.4 billion of bundled LP interests in Ares Capital Europe — potentially the largest private credit secondary transac
PGIM Acquires Deerpath Capital: How Full-Spectrum Direct Lending Works from $5M to $500M Deals
TL;DR: PGIM announced July 27 it is acquiring the remaining 25% of Deerpath Capital, completing its full ownership of a lower middle market lender with $9 billion in AUM and 1,200 transactions over 20
Credit Secondaries: The Private Markets Liquidity Tool Growing From $15B to $50B by 2030
TL;DR: Benzinga reported July 27 that Ares Management is attempting a $3.4 billion credit secondaries transaction — potentially the largest private credit secondary deal on record. The transaction ref
Blackstone BCRED Hits 5% Redemption Cap on $79B Fund: The Liquidity Wall in Non-Traded Private Credit
TL;DR: In June 2026, Blackstone capped redemptions on its $79 billion BCRED fund at 5% of NAV after investors submitted more than 10% of fund assets in withdrawal requests. This is not a default. It i
Lower Middle Market Direct Lending: The Underserved $9 Billion Niche Below the Radar
TL;DR: Lower middle market (LMM) direct lending targets companies with $5M to $25M EBITDA. It pays 100 to 150 basis points more than upper-middle-market loans, carries lower leverage (4.0x vs. 5.0 to
Blackstone Acquires HSBC's A$30 Billion Australian Loan Book: Private Credit Displaces Bank Lending
TL;DR: CryptoBriefing reported July 27 that Blackstone has emerged as the preferred buyer for HSBC's A$26-30 billion Australian loan portfolio, a deal valued at roughly US$17-20 billion. If it closes,
The Illiquidity Premium in Private Markets: Does the Data Actually Support It?
Does the Private Markets Illiquidity Premium Actually Exist? The Illiquidity Premium in Private Markets: Does the Data Actually Support It? By Jeff Barnes, MBA | Angel Investors Network | July 26, 2026 TL;DR: The illiquidity...
How to Read a Private Credit Fund Prospectus: 8 Sections That Reveal Real Risk
How to Read a Private Credit Prospectus: 8 Key Sections How to Read a Private Credit Fund Prospectus: 8 Sections That Reveal Real Risk By Jeff Barnes, MBA | Angel Investors Network | July 26,...
Non-Traded BDC Investing: What Accredited Investors Need to Know Before Committing Capital
Non-Traded BDC Guide: What Accredited Investors Need to Know Non-Traded BDC Investing: What Accredited Investors Need to Know Before Committing Capital By Jeff Barnes, MBA | Angel Investors Network | July 26, 2026 TL;DR: Non-traded...
BREIT Posts Best Net Flows in Four Years at $1.2B While BCRED Bleeds
BREIT $1.2B Net Flows 2026: Real Recovery or Channel Push? BREIT Posts Best Net Flows in Four Years at $1.2B While BCRED Bleeds By Jeff Barnes, MBA | July 25, 2026 | Category: Real Estate According to
Tikehau Capital Closes €5.2 Billion European Direct Lending Fund — 60% Bigger Than Prior Vintage
Tikehau Capital Closes €5.2 Billion European Direct Lending Fund — 60% Bigger Than Prior Vintage Tikehau Capital Closes €5.2 Billion European Direct Lending Fund — 60% Bigger Than Prior Vintage By Jef
Why BDCs Are Failing Accredited Investors (And What GoldenTree Got Right)
TL;DR: GoldenTree's Private Credit Fund II closed at its $2.75B hard cap, oversubscribed, with predecessor returns of 16% net IRR and a 1.4x multiple. Meanwhile, Fitch Ratings reported that 10 of 16...
GoldenTree's $2.75 Billion Oversubscribed Close Shows the Real Fault Line in Private Credit
TL;DR: GoldenTree Asset Management closed its second private credit fund oversubscribed at a $2.75 billion hard cap, with more than $800 million arriving through a rated feeder structure built for...
Oversubscribed Rounds and Fast Markups Are a Warning, Not a Green Light
TL;DR: When a fund closes oversubscribed or a startup's valuation jumps 5x in nine months, the financial press treats it as proof that smart money has spoken. I think that instinct is backwards....
CLO Equity Explained: The Riskiest, Highest-Paying Slice of Private Credit
CLO equity is the tranche that eats losses first and profits most, and according to the SEC's investor education office , it's also one of the least understood corners of private credit. A CLO,...
Private Credit Raised $16 Billion in Q2. Only Half of It Found a Home
Direct lending funds raised $16.25 billion in Q2 2026, up from just $1.3 billion in Q1, according to a Reuters report citing Preqin data . But the money isn't finding a home fast enough. That...
Sagard's Third Private Credit Fund Just Hit $1 Billion. Here's What It Means for Direct Lending
Sagard just closed the first tranche of its third direct-lending fund at more than $1 billion, according to Alternative Credit Investor . The Canadian alternative asset manager pulled...
How to Evaluate a Private Credit BDC Before You Invest: A Due-Diligence Checklist
TL;DR: In early 2026, Blue Owl Capital Corp II froze quarterly redemptions entirely for a $1.6 billion non-traded business development company, after investors realized a wave of loan markdowns could
OCREDIT's $2.5B Offering: What a Non-Traded Perpetual-Life BDC Really Costs You
TL;DR: On July 7, 2026, T. Rowe Price's OHA Select Private Credit Fund, ticker OCREDIT, registered a new continuous offering for up to $2.5 billion in common shares, split roughly $833.3 million each