Private credit

What’s driving the growth of private credit secondaries?

In the latest episode of the Second Thoughts podcast, two early pioneers in credit secondaries share their views on where the market is headed next.

Generali and Partners Group launch credit secondaries fund

The joint venture is structured as a RAIF and will look to acquire mainly senior-secured direct lending stakes.

FIRSTavenue seeks to ramp up secondaries and PE advisory capabilities

The placement agent, which takes a generalist approach to primary and secondaries advisory, has made a number of hires from advisers including Mercury, chief executive Paul Buckley tells Secondaries Investor.

Coller snaps up $1.6bn LP-led credit portfolio from American National

Credit transactions accounted for 8% of the total $89bn LP-led volume last year, according to a report from Evercore.

What’s driving the rise in private credit CVs?

While continuation funds offer a solve for managing complexities in private credit, managers must be mindful of the challenges.

TPG Angelo Gordon runs $1.5bn-plus GP-led credit secondaries process

The process comes at a time of increased momentum for GP-led credit deals with a number $1bn-plus transactions closing last year.

LP-led pricing for credit secondaries reaches all-time high – Jefferies

LP-led deals made up 54% of the record $162bn of volume seen in 2024, with pricing improving across all asset classes, according to Jefferies’ Global Secondary Market Review.

Credit secondaries’ growth may lie within the asset, cashflow divide

The growth of private debt’s secondaries market has been rapid, mirroring to an extent its private equity equivalent. But greater specialisation may become a differentiating feature.

Jeremy Coller: Secondaries is key for GPs reshaping investment strategies

The secondaries market remains the key mechanism for facilitating changes at speed, says Coller Capital’s founder and CIO.

BlackRock CFO: Macro events could lead to ‘interesting opportunities’ in credit secondaries

A 2024 PJT report expects private credit secondaries volume to hit $10bn this year.