Financial Times

Apollo took bearish software view with bets against corporate debt

Private capital giant shorted loans and cut exposure to sector amid concerns over threat from AI

Emerging market private credit surges to record $18bn

Lending booms in developing economies even as US industry struggles following collapse of First Brands

In a tough year, private credit bosses are pointing fingers

Firms like Apollo find it hard to shake narratives formed by legacy private equity and distressed debt operations

Blue Owl executives and staff bought $200mn in shares after sell-off

Insider purchases intended to support stock in wake of abandoned merger

Blue Owl private credit fund merger leaves some investors facing 20% hit

Asset manager blocks redemptions from one of its first private debt vehicles targeting wealthy individuals

Warnings from the private credit wobble

Investors and regulators should sharpen scrutiny of risky lending practices and interlinkages

Blue Owl’s private credit fund U-turn

Plus, the mega-deal rippling through Wall Street, Hollywood and Washington, and pharma groups stressing buyout firms

If private credit breaks, insurers will fall under the microscope

Rising holdings of the asset class could lead to problems when the next downturn comes

How banks fuel the private credit boom

Lenders emphasise their safety and private credit’s riskiness. In reality, the two are intertwined.