The Unicrunch — Rise in tech M&A doesn’t lift all private credit boats

The state of private credit in 2026

Private credit built its growth story on software, retail capital, and loose docs. And right now, all three are under pressure simultaneously. In our state of private credit 2026 whitepaper, we map where those pressures stand at the halfway point, and where they're most likely to land in H2.

Taking the Credit — Hedge funds deepen private credit’s identity crisis

Hedge funds have made significant strides into private credit recently, tapping into an existential question for an asset class struggling amid fears of fraud, defaults and looming maturity walls: what exactly is private credit?

LatAm Weekly — Argentina gets a boost

Asia weekly — Primary markets bounce back after holidays

US IG Wrap — Iran turmoil fails to weaken risk appetite

Excess Spread — Cool trade, leverage on leverage, blues in the night

Avid 9fin readers would have been the first to know (here) that HSBC had provided a loan-on-loan against one of Atlas SP Partners’ warehouse positions lending to Market Financial Solutions (Zircon Bridging, a facility focused on slightly more granular loans averaging £1m a time).