---
title: "私人信貸正面臨減值、調查以及融資速度放緩的挑戰"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/286646863.md"
description: "私募信貸面臨挑戰，十四家主要的 BDC 在第一季度報告了低於攤銷成本的 12 億美元減值，特別影響了較小的基金。聯邦檢察官正在調查黑石的估值方法，而監管機構則要求提高透明度和壓力測試。此外，滙豐已暫停部署 40 億美元的私募信貸基金，原因是遭受了重大損失，而高盛則尋求從其資產負債表中轉移風險"
datetime: "2026-05-16T13:43:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286646863.md)
  - [en](https://longbridge.com/en/news/286646863.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286646863.md)
---

# 私人信貸正面臨減值、調查以及融資速度放緩的挑戰

Loan values fall: Fourteen major BDCs marked down portfolios in Q1, with $1.2 billion below amortized cost and distress concentrated in smaller funds. Scrutiny intensifies: Federal prosecutors are probing BlackRock’s valuation methods, while regulators push for more transparency and stress testing in the sector. Capital deployment slows: HSBC paused deploying $4 billion in private credit funds after heavy losses, and Goldman Sachs seeks to shift risk off its balance sheet.

### 相關股票

- [GS-C.US](https://longbridge.com/zh-HK/quote/GS-C.US.md)
- [HSBC.US](https://longbridge.com/zh-HK/quote/HSBC.US.md)
- [GS.US](https://longbridge.com/zh-HK/quote/GS.US.md)
- [GS-D.US](https://longbridge.com/zh-HK/quote/GS-D.US.md)
- [00005.HK](https://longbridge.com/zh-HK/quote/00005.HK.md)
- [BLK.US](https://longbridge.com/zh-HK/quote/BLK.US.md)
- [BTX.US](https://longbridge.com/zh-HK/quote/BTX.US.md)
- [BIT.RT*.US](https://longbridge.com/zh-HK/quote/BIT.RT*.US.md)
- [BDJ.US](https://longbridge.com/zh-HK/quote/BDJ.US.md)
- [BSTZ.US](https://longbridge.com/zh-HK/quote/BSTZ.US.md)
- [BIT.RT.US](https://longbridge.com/zh-HK/quote/BIT.RT.US.md)
- [DTIW.SG](https://longbridge.com/zh-HK/quote/DTIW.SG.md)
- [HSBA.UK](https://longbridge.com/zh-HK/quote/HSBA.UK.md)
- [W4VR.SG](https://longbridge.com/zh-HK/quote/W4VR.SG.md)

## 相關資訊與研究

- [據報滙控未兑現注資 312 億元私募基金承諾](https://longbridge.com/zh-HK/news/286540964.md)
- [高盛私募信貸基金非應計資產佔比上升 並下調資產價值](https://longbridge.com/zh-HK/news/285724769.md)
- [基金開箱文》台股基金這麼多，元大新主流基金憑什麼領先？](https://longbridge.com/zh-HK/news/286539980.md)
- [聯邦銀欲入股 MaiCoin 金管會未同意](https://longbridge.com/zh-HK/news/285960878.md)
- [阿波羅擬出售私人信貸基金 MFIC 估值約 234 億](https://longbridge.com/zh-HK/news/285882487.md)