Putnam BDC Income ETF

Blackstone Secured Loan Fund Plans to Issue Notes Up to $650 Million

Main Street Capital released FY2026 Q1 earnings on May 8 After-Market (EST), actual revenue USD 140.11 M (forecast USD 145.23 M), actual EPS USD 0.5403 (forecast USD 1.055)

Main Street Capital Reports Q1 Earnings Below Expectations

Blackstone Secured Lending Fund released FY2026 Q1 earnings on May 7 Pre-Market (EST), actual revenue USD 325.47 M (forecast USD 353.15 M), actual EPS USD 0.1087 (forecast USD 0.7415)

Blue Owl Capital released FY2026 Q1 earnings on May 6 After-Market (EST), actual revenue USD 396.77M (forecast USD 421.69M), actual EPS USD -0.05 (forecast USD 0.3463)

Blue Owl Tech Finance released FY2026 Q1 earnings on May 6 After-Market EST, actual revenue USD 325.94 M (forecast USD 340.16 M), actual EPS USD -0.4736 (forecast USD 0.305)

Trinity Capital released FY2026 Q1 earnings on May 6 Pre-Market EST: Actual Revenue USD 83.32 M (Forecast USD 85.26 M), Actual EPS USD 0.3566 (Forecast USD 0.5144)

Hercules Capital Reports Record Q1 2026 Earnings with Leadership Changes

Hercules Capital released FY2026 Q1 earnings on May 5 After-Market EST, actual revenue USD 141.54 M (forecast USD 141.39 M), actual EPS USD 0.2279 (forecast USD 0.4647)

Sixth Street Specialty Lending released FY2026 Q1 earnings on May 5 After-Market EST, actual revenue USD 93.4 M (forecast USD 103.36 M), actual EPS USD -0.2747 (forecast USD 0.4942)

Golub Capital BDC released FY2026 Q2 earnings on May 4 After-Market EST, actual revenue USD 188.13 M (forecast USD 200.37 M), actual EPS USD -0.1781 (forecast USD 0.3616)

Golub Capital BDC released FY2026 Semi-Annual Earnings on May 4 After-Market EST, actual revenue USD 395.14 M, actual EPS USD 0.0701

Blue Owl Capital Sees Tenfold Return on SpaceX Investment and Sells Half of Shares

Main Street Capital to Release FY2026 Q1 Earnings on May 7 After-Market EST, Forecast Revenue USD 145.23 M, EPS USD 1.055

Blackstone Secured Lending Fund to Release FY2026 Q1 Earnings on May 7, Pre-Market EST; Forecast Revenue USD 353.15 M, EPS USD 0.7415

Blue Owl Capital faces increasing scrutiny as its stock nears historical lows

Blue Owl Capital to release FY2026 Q1 earnings on May 6 After-Market EST, forecast revenue USD 421.69 M, EPS USD 0.3463

Blue Owl Tech Finance to Release FY2026 Q1 Earnings on May 6 After-Market EST, Forecast Revenue USD 340.16 M, EPS USD 0.305

Trinity Capital to Release FY2026 Q1 Earnings on May 6 Pre-Market EST, Forecast Revenue USD 85.26 M, EPS USD 0.5144

Optimi Health

HCW Biologics

Silexion Therapeutics

Vida Global

GCL Global

BiomX

MetaVia

Micware

MicroAlgo

BIZD

PBDC

The private credit sector is facing challenges, with rising redemption requests at non-traded business development companies (BDCs) indicating market stress. Portfolio manager Michael Lebowitz suggests that negative sentiment has affected both strong and weak BDCs, but sees potential value in the sector. A Bank of America report predicts redemption levels will peak in Q2 2026, with elevated pressure expected into Q3. Despite the turmoil, analysts maintain buy ratings on several firms, and BofA has committed $25 billion to private-credit investments, alongside other banks entering the sector.

- The private-credit market faces challenges as investor sentiment declines and redemption requests rise, particularly among non-traded business development companies (BDCs).  
- Analysts predict Q2 2026 will see record redemption activity, anticipating continuous pressure into Q3 before a potential easing in Q4.  
- Despite the turmoil, Bank of America and other institutions remain optimistic, maintaining buy ratings on major firms while committing significant capital to private-credit investments.

benzinga_article

Bank of America

VanEck BDC Income ETF

Pro Gbl Listed Pvt

Apollo Global

ARES Management LP

Blackstone

Blue Owl Capital

Citigroup

Wells Fargo

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

APOLLO GLOBAL MANAGEMENT INC 6.75% CONV PFD STK SER A

Apollo Global Management Pref Share APO 7.625 09/15/53

ARES MANAGEMENT CORPORATION 6.75% MAN PFD CONV SER B

KKR Group Fin Co IX LLC Pref Share KKRS 4.625 04/01/61

KKR & CO INC 6.25% MAND CONV PREF SHARES SER D

KKR & Co. Inc.

Blue Owl Capital III

Blue Owl Tech Finance

CITIGROUP INC 6.250 NON CUM SER II PFD WI

WELLS FARGO & COMPANY DP SHS REP 1/1000TH INT NCUM PFD CL A DD

WELLS FARGO & COMPANY 7.5% PERP CONV PRF CLS 'A' SERIES 'L'

WELLS FARGO & COMPANY DEP SHS REP 1/1000 INT PER PFD SER Y A

WELLS FARGO & COMPANY DP SHS REP 1/1000TH INT NCUM PFD CL A CC

WELLS FARGO & COMPANY 4.75% DEP SHS 1/1000 NCUM PFD CL A SR Z

WELLS FARGO & COMPANY DEP SHS REP 1/1000TH INT PFD SR AA (CLA)

'Chaos And Bad Press' Roil Private Credit — And Bulls Smell Value

FBDC

Bargain hunters are capitalizing on low valuations of private lending funds, particularly publicly-listed business development companies (BDCs), which have seen a recovery in share prices. Concerns over credit losses, especially in software investments, have led to a cautious outlook. Upcoming earnings reports from major BDCs could influence market sentiment. While some investors are shifting from unlisted to listed BDCs for better valuations, others remain skeptical about potential loan losses. Overall, BDC valuations are still below early-year levels, suggesting room for recovery despite recent gains.

Bloomberg

FT Confluence BDC & SpecialtyFinacIncETF

Ares Capital

BlackRock

Barclays

Saba Capital Income & ops Fund II

Leuthold Core ETF

BlackRock Tech and Private Equity Term Trust

BLACKROCK MULTI-SECTOR INCOME TR COM USD0.001(S/R 09/09/2025) WI

Blackrock Enhanced Div Achievers Trust

BlackRock Science and Tech Term Trust

BlackRock Multi-Sector Income Trust

Cheap Private Credit Funds Draw Bargain Hunters

BDCZ

Business Development Companies (BDCs) are trading at a 20-25% discount off their Net Asset Value (NAV), presenting a potential opportunity for investors seeking high-yield investments. This discount may serve as an attractive entry point for diversifying portfolios while managing risk through hedging strategies. BDCs provide financing to small and mid-sized businesses and are appealing to those looking for higher returns.

CoinLive

UBS ETRACS Wells Fargo® Busn Dev Co ETN

Invesco Global Listed Private Equity ETF

BDCs Trading Below NAV: A Potential Opportunity

FNCL

The U.S. private credit market has been facing a wave of redemptions since the first quarter of 2026, with internal disagreements about the severity of the crisis. Morgan Stanley warns that the default rate is expected to rise to around 8%, particularly for loans related to the software industry. Recently, some large private credit funds have encountered redemption requests exceeding $10 billion, intensifying the market's risk-averse sentiment towards the industry

腾讯新闻 - 财经

VG Financial

SPDR S&P Software

iShares Expanded Tech Software Sector ETF

Fidelity MSCI Financials Index

Morgan Stanley

Middle East conflict, U.S. private credit defaults hitting new highs... The wave of redemptions in private credit funds continues, with giants only redeeming about 70%, and Wall Street senses the smell of the "2008 crisis"?

PCLO

The private credit industry is facing significant challenges as investors seek to withdraw billions from funds, leading to limits on withdrawals and asset sales by fund managers. Major firms like Cliffwater and Morgan Stanley have capped redemptions, raising concerns about the industry's reliance on wealthy investors. The situation reflects a growing dilemma between providing liquidity and maintaining portfolio value. Investor psychology is also influencing withdrawal behavior, while banks like JPMorgan are becoming cautious in lending to private credit funds amid concerns over portfolio health.

Invezz

JPMorgan Chase

Simplify VettaFi Private Credit Stgy ETF

Virtus Seix AAA Private Credit CLO ETF

Virtus Private Credit Strategy ETF

Hilton BDC Corporate Bond ETF

Morgan Stanley Pathway Large Cap Eq ETF

State Street® IG Public & Priv Crdt ETF

WisdomTree Alternative ome Fund - ETF

Defiance Daily Target 2X Long JPM ETF

BondBloxx Private Credit CLO ETF

As investors seek exits, is private credit’s liquidity model breaking?

BXSL

TSLX

The U.S. private credit market is declining, with the median Business Development Company (BDC) trading at 0.73 times its net asset value (NAV), the lowest since 2020. BDCs, which lend to small and distressed businesses, are currently valued at 73% of their worth. The price-to-NAV ratio has been falling for 18 months, raising concerns about the impact of AI on software firms and debt refinancing. With BDCs holding 20% exposure to the software sector, the private credit industry faces significant pressure, questioning the future stability and valuation of BDCs.

Blackstone Secured Lending Fund

Sixth Street Specialty Lending

FS KKR Capital

Prospect Capital

Hercules Capital

Golub Capital BDC

Main Street Capital

US Private Credit Market Faces Decline Amid AI Concerns

Business development companies are experiencing significant liquidity pressures, according to a recent analysis. Bloomberg posted on X, highlighting the challenges these companies face in maintaining financial stability amid fluctuating market conditions. The newsletter, titled 'Going Private,' delves into the complexities of liquidity management for these entities, which are crucial in supporting small and medium-sized enterprises. As market dynamics continue to evolve, business development companies must navigate these challenges to ensure their ongoing viability and support for the broader economy.

Business Development Companies Face Liquidity Challenges

Barclays' report highlights risks in the private lending market due to a 21% decline in the software sector, which heavily impacts Business Development Companies (BDCs) focused on SMEs. The report notes that while BDCs are vulnerable, financial ETFs have not yet fully adjusted to these risks. Additionally, the report discusses high volatility in commodities and suggests cost-effective hedging tools, particularly put options on high-yield bonds and financial sector ETFs, to manage market risks. Overall, correlations between asset classes are rising, indicating reduced diversification in asset allocation.

Financial Select Sector SPDR Fund

iShares US Financials

ISHRS Us Brokers & Sec Exchg

Software crash "butterfly effect": BDC → private lending → financial sector?

Putnam BDC Income ETF(PBDC.US)

'Chaos And Bad Press' Roil Private Credit — And Bulls Smell Value

Cheap Private Credit Funds Draw Bargain Hunters

BDCs Trading Below NAV: A Potential Opportunity

Middle East conflict, U.S. private credit defaults hitting new highs... The wave of redemptions in private credit funds continues, with giants only redeeming about 70%, and Wall Street senses the smell of the "2008 crisis"?

As investors seek exits, is private credit’s liquidity model breaking?