Alternative Investments Archives - Global Finances Daily

Moody’s: Private credit could play wider role in European defence

Editorial Team — Mon, 15 Sep 2025 15:12:16 +0000

Private credit could play a greater role in Europe’s defence build-out, according to a new report by Moody’s Ratings.

It said that major European defence firms are increasing investments, but said that barriers in European capital markets could still limit private investment into smaller firms that form the backbone of the industry.

“Private credit is therefore likely to play a bigger role among the sector’s smaller players in the coming years because it offers more flexible and longer-term financing solutions,” it said.

“Private credit’s more flexible, bespoke and patient financing (senior loans, mezzanine debt and venture debt) could prove more suitable for the specific needs of a defence company like funding a new production line or investing in R&D where the returns might not be immediate.”

As an example, it highlighted that Tikehau Capital and three insurers recently launched an initial €150m (£130m) fund focused on defence, cybersecurity and European security that includes a 30 per cent allocation to private debt.

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Pollen Street agrees $100m credit facility with CredibleX

Editorial Team — Sat, 13 Sep 2025 20:57:09 +0000

Pollen Street Capital has agreed a $100m (£74m) senior secured credit facility to UAE-based SME lender CredibleX.

It is the first transaction for Pollen Street in the UAE and follows the opening of its offices in Abu Dhabi.

CredibleX provides SMEs with various capital finance solutions, including receivables financing, payables financing and short-term loans. The funding from Pollen Street
will help it offer easier access to quality financing options for SMEs in the region, the firm said.

“We are thrilled to partner with CredibleX and provide this senior secured facility to further support the business as it grows and expands its loan book,” said Matthew Potter, partner at Pollen Street.

“The team have extensive experience in lending and building businesses in the region for over 20 years. This deal is also a milestone for Pollen Street as our first transaction in the region, following the opening of Pollen Street offices in Abu Dhabi, illustrating our strong pipeline and ability to be selective with opportunities to deliver attractive risk-adjusted returns for our investors.”

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Alternative Credit Awards 2026: North America edition open for entries

Editorial Team — Sat, 13 Sep 2025 14:55:04 +0000

Alternative Credit Investor is delighted to announce that it is expanding its prestigious awards series into the US next year.

The Alternative Credit Awards, hosted by Alternative Credit Investor, recognise the most influential fund managers and service providers shaping the alternative credit space.

Due to industry demand, the awards will be expanded into North America and Europe editions in 2026, with the ceremonies taking place in New York City and London respectively.

The Alternative Credit Awards North America 2026 are now open for entries. You can access more information about the awards here. The winners will be announced at 583 Park Avenue, NYC on 14 April 2026.

The entry deadline is 28 November 2025.

“We have a substantial readership base in North America and growing demand for our events, so it makes perfect sense to launch our awards in New York next year,” said Alternative Credit Investor’s founder and editor-in-chief Suzie Neuwirth.

“Building on the tremendous success of our London-based awards, we’re excited to be hosting two events in 2026 to celebrate the achievements of the alternative credit industry on both sides of the Atlantic.”

The Alternative Credit Awards 2025 will take place at the Royal Lancaster London on 19 November 2025.

The Alternative Credit Awards Europe 2026 will take place in London in November 2026.

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European securitised market offers compelling yields

Editorial Team — Sat, 13 Sep 2025 08:53:16 +0000

The yields in the European securitised market are compelling and attractive, according to a new report by Sona Asset Management.

In its report, The Investment Case for Europe, the firm said that yields on offer in the European securitised market are “compelling, especially risk-adjusted”, with AAA-rated prime RMBS, CMBS, CLOs, and UK non-prime RMS offering up to five per cent yields currently. This increases to seven per cent for UK non-prime BB-rated CMBS and 10-15 per cent for CLO single-B and equity tranches.

“Meanwhile, the CLO market continues to go from strength to strength in Europe. Year to date, new issue volumes have already eclipsed €30bn (£26bn) and are 24 per cent ahead of the comparable period last year. Deutsche Bank forecasts full year supply of €50bn, roughly matching the record from 2024,” it added.

“While spreads are currently ~15bp wider in European AAA CLOs currently versus those in the US, spreads have historically been comparable, but generally look more attractive in Europe as quality declines.”

Overall, the firm said that Europe “now presents a unique case for strategic re-evaluation”, adding that policy momentum is building, and there is a continent-wide push to regain global standing in artificial intelligence.

“We believe these developments signal a region in transition — one that is not merely reforming itself but actively courting capital to drive energy security, technological advancement, and market integration,” it added.

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Law firm Katten adds partner to private credit practice

Editorial Team — Sat, 13 Sep 2025 02:51:20 +0000

Law firm Katten has appointed R. Kader Crawford as a partner in its private credit practice in Charlotte, North Carolina.

Crawford (pictured) focuses on the middle market, particularly around commercial lending, corporate finance and private equity transactions.

He will work with a variety of lending market players, advising on matters from bilateral sponsor acquisition financings to broadly syndicated credit facilities for large companies.

He joins from law firm Winston & Strawn, where he focused on commercial lending, corporate finance and private equity transactions. He also brings experience in asset-based lending, which will expand Katten’s capabilities in this area.

“Kader knows the importance of delivering innovative, effective legal solutions that address business needs,” said Katten’s Charlotte managing partner Karen Nelson.

“His fresh energy and standout skills are a match for the Katten culture and profile not only in Charlotte but throughout the firm.”

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Semi-liquid funds offer new revenue stream for private credit firms

Editorial Team — Fri, 12 Sep 2025 20:49:11 +0000

Semi-liquid funds are set to open up access to alternative investments to retail investors, which could be a new stream of revenue for private credit firms, according to Deloitte.

In a new report, the Big Four audit firm said that a revitalisation of semi-liquid funds could be “a win for both traditional and alternative investment firms” and could help retail investors tap into private credit.

“For alternative investment firms, semi-liquid funds can offer new avenues of generating revenue in a challenging fundraising environment, where capital raised by private funds has declined every year since peaking in 2021,” it said.

“Retail investors have an opportunity to gain exposure to the growth of private companies through semi-liquid funds. A renewed focus on these funds can help make it more convenient for retail investors to tap into key asset classes such as private equity and private credit.”

However, it said that to effectively navigate the evolving retail alternatives market, investment firms will likely have to adapt their operating models.

“An updated operating model, designed to facilitate semi-liquid fund structures, has the potential to increase accessibility, enhance profit margins, and position early movers as leading providers of diversified solutions for the retail sector,” it said.

“Semi-liquid funds have the potential to become a preferred vehicle for democratising alternative assets, catering to retail investors who may seek exposure to private asset classes.

“Firms that establish effective guardrails for managing potential risks and build a brand in this evolving space will likely be better positioned to attract investor interest, growing assets under management in a high-margin asset class at scale.”

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WidsdomTree launches tokenised private credit fund

Editorial Team — Fri, 12 Sep 2025 14:47:14 +0000

Investment firm WisdomTree has launched a tokenised private credit and alternative income fund, which will be available to both institutional and retail investors.

The WisdomTree Private Credit and Alternative Income Digital Fund will be hosted on the WisdomTree Prime and WisdomTree Connect platforms.

It aims to deliver exposure to private credit through a transparent, tokenised fund structure, and will seek to track the price and yield performance, before fees and expenses, of the Gapstow Private Credit and Alternative Income Index.

The fund has a minimum investment of $25 (£18.50) and will have a T+0 settlement for subscriptions and T+2 settlement for redemptions.

“Private credit has become one of the most talked-about opportunities in today’s market,” said Jeremy Schwartz, global chief investment officer at WisdomTree. “For four years, we’ve been proud to make this space more accessible to the individual investor through our ETF, and now [the fund] is able to deliver yield potential in a modern, tokenised fund.”

“The fund unlocks access to one of the most coveted asset classes – alternatives – directly on-chain,” added Will Peck, head of digital assets at WisdomTree. “By expanding the breadth of our tokenised funds, we’re giving crypto native investors the chance to diversify via exposures that were once reserved for institutions, all within the digital ecosystem.”

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Quarter of family offices to increase private credit exposure this year

Editorial Team — Fri, 12 Sep 2025 08:45:52 +0000

Family offices have been increasing their exposure to private credit, with a quarter expecting to continue upping their allocations this year, new research has found.

According to a report by Goldman Sachs, there have been “moderate increases” in private credit allocations this year, with over a quarter – 26 per cent – of 245 respondents saying they intend to increase their exposure to private credit in the next 12 months.

The average allocation to private credit reported by family offices was 4 per cent this year, up from 3 per cent in 2023, which Goldman Sachs said reflected “appetite for yield and bespoke financing solutions”.

“Allocations to private real estate & infrastructure and private credit edged higher, underscoring demand for current yield,” the report said. “Private credit has emerged as a key growth area. The proportion of family offices without exposure to private credit fell to 26 per cent, from 36 per cent in 2023, as investors seek to benefit from elevated rates and perceived downside protection among other attractive factors.”

“Family offices are signaling confidence in long-term growth while remaining disciplined in their approach,” added Sara Naison-Tarajano, global head of apex and private wealth management capital markets at Goldman Sachs.

“They’re prepared to stay the course, but also to lean into areas like private credit and public equities where they see compelling opportunities to generate returns.”

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Crowell & Moring hires asset-based finance lawyer

Editorial Team — Fri, 12 Sep 2025 02:43:36 +0000

International law firm Crowell & Moring has hired asset-based finance lawyer Tom Dell’Avvocato as a partner in its financial services division in its London office.

Dell’Avvocato (pictured) joins from Squire Patton Boggs and brings experience in non-contentious banking and finance transactions, with a focus on domestic and cross-border asset-based lending, as well as leveraged and specialty finance.

He advises alternative and private capital providers, bank and non-bank lenders, and corporate borrowers on the structuring, restructuring, and execution of complex financing arrangements.

Kieran Barnes also joins the firm as an associate from Squire Patton Boggs. He has worked with Dell’Avvocato for several years on large mandates.

“Tom’s arrival strengthens our already highly regarded team of finance lawyers in London, advising clients across a broad range of finance matters, with a particular focus on asset-based lending, derivatives, distressed debt, and other forms of specialty finance,” said Robert Weekes, managing partner of the firm’s London office.

“His addition is a key part of the continuing growth of our London team, and I am looking forward to Tom and Kieran working closely with our other practices, such as restructuring and insolvency, to support clients across this dynamic sector.”

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UK investors turn to asset-based finance amid geopolitical tensions

Editorial Team — Thu, 11 Sep 2025 20:40:19 +0000

UK investors who invest in private credit are increasingly turning to asset-based finance over other sectors amid geopolitical tensions, according to a new report.

TwentyFour Asset Management’s Fixed Income Investor Survey 2025 found that of 200 UK institutional investors, many are looking to tweak their private credit holdings, with many looking to asset-based finance.

A majority (55 per cent) of investors surveyed said they “plan to recalibrate their exposure to private credit funds”, with the majority saying they are planning to decrease their use of this asset class in portfolios.

But of investors that confirmed they were still interested in private credit, “most are looking at asset-based lending over other private credit sectors,” the report said, adding that geopolitics continues to weigh on UK institutional investors’ minds” with 61 per cent saying that the environment has shifted their risk appetite.

“It’s no surprise that global trade tensions and broader geopolitical instability have created much uncertainty, yet it’s clear that investors are continuing to direct capital toward fixed income, as elevated yields can not only improve returns, but also give portfolios some protection against volatility,” said Ben Hayward, chief executive of TwentyFour Asset Management.

“In these conditions, we think active managers can really prove their worth by targeting the right opportunities while managing the broader market risks.”

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