Lenders are growing more selective about the deals they back, which means stricter underwriting and requirements to demonstrate real earnings.

They’re selective about software assets amid AI fears, according to two of the largest buyers in the market.

The move comes as the evolution of AI is rewriting the playbook for PE firms across industries.

A sizeable portion of debt remains from the buyout boom of 2021.

Thoma Bravo founder is on the lookout for software companies that have been punished by the public markets.

Startups are making a $24B case for pricing AI based on outcomes.

An impending debt maturity wave and growing AI fears have led many to believe that—finally—the credit cycle is turning.

Europe’s market has been more sheltered from the AI-driven shock than its US counterpart.

LPs poured in $234.1 billion last year, the most capital of any asset class outside PE.

Discussions at the SuperReturn Private Credit Europe event highlighted a more cautious outlook for the asset class and M&A activity, market participants say private credit is now entering a more complex phase, with investors becoming more selective —

The chair of Partners Group says private credit defaults could double in the next few years.

AI is a warning to incumbent software providers to “do better,” says CEO Dipanjan “DJ” Deb.

Tuesday’s total return was negative 0.20%, the largest single-day loss since April 2025.

The TLB’s distressed trading levels suggest that the second-lien facility may be unlikely to complete a refinancing at its upcoming 2027 maturity.

This analyst note examines whether US private equity will double down on software amid valuation compression and AI disruption, assessing risks, underwriting shifts, and potential opportunity in the reset.

The agency says software providers are one of the largest industry segments among the portfolio assets held by CLOs it rates.

London-based PE firm agrees to acquire the financial software group, paying a 31% premium to its last close and marking a swift reversal from the company’s Nasdaq listing in 2024.

Our 2026 Industry PE Outlook forecasts trends that will shape PE-backed industries in the upcoming year.