Blank Investment Club shared the latest performance update from PSG Credit, highlighting continued momentum across originations, repayments, and pipeline growth.

PSG Credit reported $330 million in assets under management, alongside three new loans closed totalling $37 million and four loan repayments generating approximately $11.5 million.

During the period, the fund completed two full and two partial repayments, reflecting ongoing portfolio performance and capital recycling. In addition to new originations, PSG Credit executed a $9 million loan modification.

The fund’s forward pipeline remains robust, with $150 million across seven executed term sheets expected to close within 45–60 days, and an additional $116 million in issued term sheets.

Management Commentary
PSG Credit management noted that while recent attention on private credit has focused on corporate lending risks, real estate credit presents a different dynamic. Following a market correction between 2022 and 2024, the sector is positioned differently than corporate credit, which is now facing rising defaults and tightening liquidity.

The strategy remains focused on first-lien, asset-backed lending secured by real estate, which management believes provides stronger downside protection and more predictable recovery outcomes compared to enterprise-value-based lending.