Vol. I · No. 025 Daily Edition Friday, October 9, 2026
The Blind Pool
Private Markets · Brought Into Focus

The Blind Pool, free every weekday before the open. One tight read across the private-markets press.

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Today’s Take Ares and Apollo reportedly eyeing struggling BDCs leads a slate in which Apollo pitches tradable private credit, Carlyle cautions lenders on AI concentration and doubts over valuations persist. KKR's $5.1bn Gen II purchase and Sycamore's $8.9bn Boots sale anchor private equity, GIP and CPP join AT&T's fibre venture, continuation vehicles keep widening liquidity, and CalPERS and Texas Teachers show allocators still committing. 29 stories

Underperforming retail BDCs coming up for sale would let the largest credit managers buy scale and loan books at a discount. This year's private-credit stress may therefore end up as a consolidation opportunity for the strongest firms. For GPs and allocators, it is a signal to watch which vehicles trade and at what price to NAV.

Bloomberg$
By the Numbers
5.29%
10-year Treasury yield
12 mo · 4.12 → 5.18
▲ CNBC / Trading Economics, Sep 30
4.00%
Fed funds target, upper bound
12 mo · 4.50 → 3.75 → 4.00
▲ FOMC Sep 16 / H.15 Sep 23
-0.06
Chicago Fed credit conditions index
12 mo · -0.04 → -0.06
Federal Reserve Bank of Chicago, week ending Sep 25
$1.5B
Warburg Pincus's raised Ingenia bid, USD
Investing.com (Reuters), Sep 27
$348B
PE NAV in funds 10+ years old
PitchBook, end-2025
$121B
Secondaries volume, H1
Evercore, H1 2026
As of Oct 9, 2026, before the open. No figure could be re-verified this morning because searches returned no current readings; all six cells are carried forward unchanged at their last published readings: the 10-year Treasury yield (5.29%, CNBC / Trading Economics, Sep 30), the Fed funds upper bound (4.00%, FOMC Sep 16), the Chicago Fed NFCI credit subindex (-0.06, week ending Sep 25), Warburg Pincus's Ingenia bid (Sep 27), PitchBook's end-2025 NAV in funds ten years or older and Evercore's H1 2026 secondaries volume. Sparklines are unchanged.

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