Private credit

Hybrid capital appears to be having a moment. The strategy’s knack for complex deals at a time of market disruption is juicing demand – including among liquidity-strapped GPs.

Most credit LPs are ‘grateful’ when GPs explore CVs to help them assess their options, a panellist said at PEI Group’s Private Debt Investor New York Forum.

While the region has seen growing secondaries appetite in the past few years, executed deals remain far and few between, market participants tell PEI Secondaries Investor.

Golub Capital launched its GP-led strategy last September, pledging to commit $1bn.

As buyers position themselves in the market, they need to ensure they have all the ‘whistles and bells’ to cater to sellers and investors, CVC Secondary Partners’ head, Carlo Pirzio-Biroli, tells PEI Secondaries Investor.

Bridgepoint’s and PennantPark’s continuation vehicles will acquire a total of roughly $2bn of private credit investments.

The close of the asset manager’s $1.5bn CFO marks the latest example of its work to expand its private markets offering to a wider set of investors, co-head of private markets product at Franklin Templeton, Jake Williams, tells PEI Secondaries Investor.

A total of 66 CVs were known to have closed in the first half of 2026, up significantly from the 40 logged during the same period last year.

We reveal this year’s most impressive secondaries individuals under 36 in the latest iteration of the Next Gen 10.

Scale has become a competitive edge in a rapidly expanding secondaries market.