Perpetual-life BDCs continue to pull in money, with these funds accounting for the majority of recent growth in the BDC space. In addition to enticing investors with attractive yields like all BDCs, perpetual-life BDCs continually offer new shares monthly and provide investors with quarterly liquidity through a share repurchase program. Blackstone Private Credit fund, by far the largest BDC fund, has seen its investment assets climb to over US$46bn as of June 30, up from just US$11bn a year-ago. The next largest perpetual-life fund is Owl Rock Core Income Corporation with investments of US$8.5bn, followed by Apollo Debt Solutions (US$3.7bn) and HPS Corporate Lending Fund (US$3bn). Others in the top echelon include Carlyle Credit Solutions (US$2bn), Barings Private Credit Corporation (US$1.8bn), North Haven Private Income Fund (US1.4bn), Owl Rock Technology Income Corporation (US$984m), and Monroe Capital Income Plus (US$870m).
(Past performance is no guarantee of future results.)
Private Credit Defaults 101: Back to School
As Labor Day approaches, the unofficial end of summer is upon us. But, before we get too sad, there is also the familiar back-to-school energy.