Singapore’s sovereign wealth fund GIC is preparing to divest as much as $2bn of private credit holdings, turning to the secondary market as institutional investors increasingly use portfolio sales to actively manage exposure to alternative assets, according to a report by Bloomberg.
Default rates across private credit markets have climbed back to their highest level in the short history of a key industry benchmark from Kroll Bond Rating Agency (KBRA), underscoring growing pressure across the $1.8tn direct lending sector, according to a report by Bloomberg.
Private equity firm General Atlantic is in discussions to lead a major new funding round for Kling AI, the generative video unit of China’s Kuaishou Technology, one of China’s fastest-growing AI businesses ahead of a planned IPO, according to a report by Bloomberg.
Yum! Brands has agreed to sell Pizza Hut in a dual transaction with private equity firm LongRange Capital and Yum China Holdings, valuing the global pizza chain at around $2.7bn, according to a report by CNBC.
Blackstone is expanding its presence in asset-based finance with the launch of a dedicated platform focused on lending secured by physical collateral such as equipment, inventory, and other hard assets, according to a report by Bloomberg.
HIG Capital has completed the sale of clinical research organisation Celerion Holdings to funds affiliated with THL Partners in a $1.8bn transaction, marking another realisation from its Advantage investment strategy amid an improving backdrop for private equity exits.
DC Advisory’s European GP-led secondaries advisory team has been disbanded following the departure of its senior leadership over the past year, marking another retreat by an investment bank from a once fast-growing segment of private markets, according to a report by the Wall Street Journal.
Apollo Commercial Real Estate Finance Inc, which is backed by Apollo Global Management, is set to wind down and liquidate its remaining assets after its board concluded that dissolution represents the most value-accretive option for shareholders, according to a report by Bloomberg.
A number of top-tier private equity firms, including Bain Capital, Silverlake, and KKR, are emerging as major beneficiaries of the AI-driven revaluation of technology and infrastructure assets, according to a report by the Financial Times.
The European Central Bank has expanded its examination of banks’ links to the private credit sector, widening the scope of its supervisory review amid growing concerns about transparency and risk aggregation across the industry, according to a report by Bloomberg.
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