Flow Capital Partners plans to offer its $150m private credit fund on a Singapore-based blockchain platform, marking one of the first moves by an Asian asset manager into tokenised private credit, according to the firm.

Private credit funds are facing increasing pressure as banks including JPMorgan Chase, Goldman Sachs and Barclays tighten leverage terms and more aggressively reassess collateral values, adding strain to a sector already dealing with investor withdrawals, according to a report by Bloomberg.

Japan’s financial regulator is positioning private credit as a core component of its evolving financial strategy, even as overseas markets face volatility and rising redemption pressure, according to a report by Reuters.

PNC Financial Services has revealed that it has approximately $7bn in exposure to private credit managers, as banks provide greater transparency around their links to the fast-growing asset class, according to a report by Bloomberg.

The US Department of the Treasury has reportedly begun requesting detailed information from private credit firms regarding their operations and connections to the broader financial system, according to a report by Punchbowl News.

The private credit market is not showing signs of an imminent wave of defaults, and current pressures in the asset class remain manageable, according to a report by Reuters citing comments by Ares Management CEO Michael Arougheti.

Blue Owl Capital has raised $400m through a bond issuance from its publicly traded business development company OBDC, in a transaction that marks the first of its kind in over a month amid ongoing volatility in the private credit sector, according to a report by Bloomberg.