Vol. I · No. 032 Daily Edition Tuesday, October 20, 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 Carlyle's $7.7bn purchase of Truist's consumer loans leads a slate where banks hand credit to private capital while ratings agencies and the IMF warn on stress, sponsors line up large take-privates from Varonis to CCC, and continuation funds and a record energy-transition raise show liquidity and capital still finding a way. 31 stories

Truist is stepping back from consumer lending and a blue-chip private-capital firm is absorbing the $7.7bn portfolio. It is a concrete example of the structural shift of credit from bank balance sheets to private managers. For GPs it means more asset-backed origination opportunities; for allocators, more exposure to consumer credit through private vehicles.

Alternative Credit InvestorRegister
By the Numbers
5.15%
10-year Treasury yield
12 mo · 4.12 → 5.18
▲ US Treasury, Oct 19 close
4.00%
Fed funds target, upper bound
12 mo · 4.50 → 3.75 → 4.00
Federal Reserve (FRED DFEDTARU), Oct 18
-0.036
Chicago Fed credit conditions index
▲ Chicago Fed via FRED (NFCICREDIT), week ending Oct 9
$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 20, 2026, before the open. Rates read from primary sources: the 10-year Treasury yield is 5.15% at the Oct 19 close (US Treasury; 5.09% on Oct 16). Could not be refreshed this morning and carried forward: the Fed funds target upper bound (4.00%, Federal Reserve (FRED DFEDTARU), Oct 18); the Chicago Fed credit subindex (-0.036, Chicago Fed via FRED (NFCICREDIT), week ending Oct 9). Also carried forward: Warburg Pincus's raised Ingenia bid, USD, Investing.com (Reuters), Sep 27; PE NAV in funds 10+ years old, PitchBook, end-2025; Secondaries volume, H1, Evercore, H1 2026.

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