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Private credit

BlackRock's HPS fund paid about $600M of $1.2B requested, Unicus Research founder finds
12 arguments: why she thinks private-credit defaults are understated, how collateral was pledged twice, and why AI data-center debt is the first thing…
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97% of alts owners say returns beat expectations, Forbes finds
8 calls: why Goldman's COO flags 40% concentration risk in the S&P 500, why Oak Hill calls this year's private-credit panic overdone, and the $150B…
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Figure CEO on mortgages: "A mortgage done through our process is about $1,000"
6 takeaways: how blockchain cut third-party loan review costs 80%, the "Rule of 150" marketplace behind Figure's growth, and why AI agents will route…
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A private bank's subscription document takes 17 steps, says Subscribe's founder
6 takeaways: Why advisers still switch between two systems to buy private credit, why top venture funds stay closed to wealth clients, and why private…
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The best private equity managers beat the worst by 5,000bps — Vanguard's PE head
7 insights: Why leverage now drives a quarter of buyout returns instead of half, why fund gates are a feature, and how a few sloppy lenders could taint…
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Figure chair on DeFi: "Figure puts over $2.5 billion dollars a month of assets on chain"
8 arguments: Why Figure's HELOCs cost under $1,000 to originate against $11,000 for a mortgage, how Navra's keyless custody works, and why 50 of 62…
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Annuity buyers have nobody looking out for them, says Whalen Global Advisors chairman
10 calls: why Warsh should have cut a symbolic quarter point, why probably half of planned data centers can't be built, and why Chase bought servicing…
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Negative stock-bond correlation did not protect 60/40 in 1987 — Archive Capital CEO
11 arguments: a $7.5B credit fund now down 22–25%, the Fed's five-part "new monetary medicine," why high debt changes an AI bust, and the case for fewer…
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"Can easily be bigger than the entire operation": Federated Hermes CEO on private markets
8 lessons: Why money funds became an oligopoly, what stablecoins should copy from them, why he sells AI to staff as quality rather than cuts, and a 7.5…
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Ares CEO, after a record $31B raise: no credit issues in the system
2 takeaways: Why deployment fell 33% even as fundraising hit a record, and the loan metrics he says prove private credit is fine
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10 straight quarters of growth and a record $38B in flows, Citi's Head of Wealth finds
4 insights: why Citi's new savings rate is a defense against AI agents moving idle cash, why its AI adviser tool is rolling out slowly, and why private…
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The Wolf Of All Streets: Mike says gold and Bitcoin are both "done," the panel splits
8 takeaways: why credit spreads are flashing before stocks are, the Blackstone REIT trading below its own cash, and the volatility-selling flow one…
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