December 9, 2025 
You won’t see a private credit crisis until it’s too late
WATCH: Gresham House CEO Tony Dalwood said: ‘You never know when the blue touch paper will happen’, suggesting it’s impossible to predict systemic risk in private credit.
Citywire
Morgan Stanley: The good, the bad and the ugly in private credit PIK deals
WATCH: David Miller, head of private credit and equity, says interest payment deferrals are on the rise, but that Morgan Stanley keeps PIK deals below 3% in its direct lending portfolios.
Cap Group & KKR plan public-private DC funds and model portfolios
The two firms have already launched interval funds and expect to extend the partnership to insurance as well.
Video: Open- or close-ended structures for private assets?
A key debate among private asset managers is how to structure these portfolios. Three investors weigh in on the topic.
Top Touchstone gatekeeper eyes private markets expansion
Tim Paulin is exploring how Touchstone can add its first evergreen private markets funds.