Financial Times

Blackstone, Apollo and KKR sign up to UK stress test of private credit

US private capital groups to take part in Bank of England review amid concerns over systemic risks

The probe gripping Italy’s banking industry

Plus, private credit lenders submit to stress tests and a tumultuous few months at commodities trading giant Gunvor

Altice USA accuses creditors of forming ‘illegal cartel’

Defendants who own large chunks of $26bn distressed debt pile include Apollo, Ares, BlackRock and Oaktree

Blue Owl’s clever private-to-public deal makes investors see red

The private capital firm has cancelled a planned merger between two affiliates that lend to middle-market companies

Blue Owl calls off merger of private credit funds

Move had risked inflicting losses of 20% on investors in one of the vehicles