Private credit roundup: Earnings hold up as defaults, redemptions remain elevated

Evercore estimated global private credit secondary-market volume reached $20.4 billion in the first half of 2026, up 122% from a year earlier and exceeding the total recorded in all of 2025. GP-led deals, in which managers offer investors the option of selling or rolling holdings into a new vehicle, accounted for 83% of the total.

Evercore expects BDCs, semi-liquid funds and interval funds to account for about a quarter of credit-secondary activity this year as managers seek to meet investor liquidity needs.

(Reporting by Patturaja Murugaboopathy. Editing by Vidya Ranganathan and Mark Potter)

July 31 (Reuters) - Ares Capital ARCC.O and Blue Owl Capital OWL.N reported resilient second-quarter results this week, while Ares Management ARES.N posted record fundraising, highlighting continued institutional demand for private credit despite rising defaults, retail redemptions and liquidity concerns.