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Private Credit Lenders Move Toward Control of 48Forty as Market Pressures Deepen
November 21, 2025 - One of North America’s largest pallet recycling and management companies reportedly is headed toward a major ownership transition, as several of its private credit lenders prepare to exchange a portion of 48forty Solutions’ debt for equity. The development marks a significant escalation in a restructuring process first reported this summer and underscores the strain that high interest rates and cooling freight activity have placed on leveraged firms acros
Paul Mangione
Nov 21
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BlackRock CLO Fails Overcollateralization Test and Waves Fees
November 19, 2025 - A BlackRock portfolio of private credit loans has performed poorly, prompting the money manager to waive some management fees. The portfolio's value declined enough to breach an over-collateralization test in October, which was rectified by a fee deferral that included cash from the deal's riskiest tranches. The performance of the portfolio raises questions about the outlook for the broader private credit market, which has shown signs of weakness despite
Paul Mangione
Nov 19
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Blue Owl Freezes Redemptions from Credit Fund
November 17, 2025 - Â Blue Owl Capital Corporation II (OBDC II), one of Blue Owl's oldest private credit funds froze redemptions as requests grew above the 5% NAV cap. https://www.reuters.com/markets/europe/blue-owl-shares-extend-losses-after-blocking-redemptions-private-credit-fund-2025-11-18/
Paul Mangione
Nov 17
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