US private credit firm Blue Owl Capital triggered the collapse of UK mortgage lender Century Capital Partners by demanding repayment after discovering financial reporting irregularities. Blue Owl, managing over $300bn, became a focal point for private credit sector concerns. The firm's asset-backed lending unit held the riskiest slice of Century Capital's debt.

Century Capital, which owed nearly £100mn to creditors, was pushed into administration. This collapse followed weeks after Market Financial Solutions' insolvency, raising fraud allegations and scrutiny of private credit firms backing such lending. Century Capital's founder, Paul Munford, is relaunching his business as Century London, planning to finance it through off-balance-sheet loans.

Century London's pitch document revealed the firm dismissed a director due to report irregularities towards the end of 2025 and implemented governance changes. Creditors acted after uncovering apparent financial reporting and control issues, not fraud accusations. Administrators at RSM expect to recoup all funds and aim to sell the loan book by March, which stood at £165mn at its peak.

Sopher + Co resigned as auditor citing 'significant outstanding fees' a month before the collapse.