Term time — The financial woes of UK universities

Insurers are outrunning regulation to pour billions into private credit

When TPG chief executive Jon Winkelried took the mic for TPG’s earnings call last November, he had plenty of reason to declare 2025 as a “breakout year” for the franchise. TPG’s credit platform especially was riding an unprecedented wave of momentum, raising $12bn of the $35bn total capital the traditionally private equity-focused firm had raised through the third quarter.

Hot Stacks — Tracking the AI data infrastructure financing boom

Hot Stacks is 9fin’s weekly take on data center finance — the deals moving the market, the people behind them, and the risks and opportunities buried in the stack.

Market Financial Solutions — A comprehensive guide to what we know so far

Market Financial Solutions is the biggest fraud to ever hit the UK mortgage market. 9fin's ABF team has provided leading news, data and reporting throughout the saga. Here’s a cheat sheet with everything we know so far.

Insolvent Bathla’s A$3.4bn debt highlights Aussie property woes

On Friday (4 September), the administrators of Bathla Group, one of Sydney’s largest, and now insolvent, homebuilders told the firm’s creditors its A$3.4bn ($2.45bn) debt stack may still grow. The builder owes most of that cash to private credit lenders, though claimants may number as many as 3,000.

MFS investors including Raja’s stepson were repaid ahead of collapse

Individual investors who had lent money to Market Financial Solutions — including MFS CEO Paresh Raja’s stepson, the Deutsche Bank high-yield credit trader Rihan Dewan — received their money back last December in the run-up to the bridging lender’s high-profile collapse amid fraud allegations, according to court documents.

AI warning signs, Part Two — It’s IPO o’clock, do you know where your credit returns are?