Recent corporate failures and concerns around underwriting standards have heightened attention on the sector. In addition, rapid advances in artificial intelligence have raised questions about the resilience of some borrowers, particularly software companies. Despite these developments, Deutsche Bank said it is not exposed to 'significant risks' linked to non-bank financial institutions. However, the bank noted that indirect credit risks could emerge through interconnected portfolios and counterparties. The report also highlighted growing attention on risks within private credit markets. It stated that 'failures of a select number of sub-prime lenders in the U.S. increased investor focus on risks associated with private credit and raised wider concerns around underwriting standards and fraud risk.' Even as risks draw greater scrutiny, Deutsche Bank signalled ambitions to strengthen its position in the market. The bank said it plans to expand its private credit offering through selective regional growth. It also aims to develop innovative products and digital investment solutions in collaboration with its private banking business....

The fund generated $18.5bn in investment income during the year, with total assets increasing from $266.3bn in 2024. The pension plan remains fully funded for the 13th consecutive year and reported a preliminary funding surplus of $31.2bn with a funding ratio of 111%. 'Our 2025 results reflect the resilience of our diversified portfolio and the disciplined approach we take to manage the plan on behalf of our members. We remain fully funded and delivered a one-year net return of 6.7%, supported by performance from gold and our venture growth and public equities asset classes. Our private equity and real assets teams had a more challenging year given broad sector headwinds. We responded with disciplined year-end valuation adjustments to reflect current market conditions, which weighed on performance,' said Jo Taylor, President & Executive Officer. The fund underperformed its benchmark return of 11.7%, reflecting strong performance in public market-linked benchmarks and softer returns from certain private market asset classes including private equity, infrastructure, and real estate....

The projects, with combined capacity of 789MW / 1,628MWh, are under construction across Germany and are expected to become operational by 2028. Around 70% of the capital structure will be financed through debt. The transaction marks AllianzGI's first direct equity investment in a utility-scale battery storage portfolio. The assets were developed by Kyon Energy, a TotalEnergies subsidiary, and TotalEnergies will remain operator. The deal reflects growing institutional appetite for grid-scale storage, as Germany accelerates renewable deployment and seeks greater system flexibility. Battery infrastructure is increasingly viewed as critical to managing grid congestion and balancing intermittent power generation. For TotalEnergies, the transaction allows capital recycling within its integrated power strategy while retaining operational control. For AllianzGI, the investment strengthens its exposure to energy transition infrastructure in its domestic market. Edouard Jozan, Head of Private Markets at Allianz Global Investors, said the projects will 'help reinforce the country's energy resilience, accelerate the energy transition, and deliver long-term value for our clients,' highlighting the firm's long-term infrastructure allocation strategy....

The consortium is led by BlackRock's Global Infrastructure Partners. The infrastructure platform brought QIA into the investor group more than a year ago. The fund maintained its commitment despite missile strikes targeting Doha over the weekend. A QIA representative declined to comment. Notably, the deal was announced shortly after Qatar halted liquefied natural gas production at the world's largest export facility following an Iranian drone attack. Nevertheless, the country's energy revenues continue to underpin its outbound investment strategy. The $10.7bn acquisition reinforces sovereign capital's role in US infrastructure. Moreover, it highlights the resilience of Gulf private equity and infrastructure investors amid geopolitical disruption. In parallel, Bahrain Aluminium agreed to acquire Aluminium Dunkerque Industries France for more than '1bn, equivalent to approximately $1.2bn. The transaction marks Bahrain's largest-ever overseas corporate takeover. Meanwhile, Saudi Arabia's Tahweel Holding agreed to acquire downstream plastics operations from Tasnee. In addition, Dubai Aerospace Enterprise struck a $7bn deal, including debt, to acquire Macquarie AirFinance. The acquisition strengthens its position in global jet financing....