Risk
Dimon Sounds Alarm on Private Credit—Sounds Like Junk Bonds, Circa 1990
JPM chief points out that these loans have not yet faced a real economic downturn, which high-yield did.
Tag: Private Credit
Risk
Private Credit Downgrades Rise Among Mid-Sized Companies, Says KBRA
Among a sampling of them, 21% had first quarter demotions, striking a possibly worrisome note for a key part of the economy.
Alternatives
Insurance CIOs See Alternatives Driving Portfolio Returns
There is no “turning back” to traditional asset allocations, according to KKR.
Opinion
The End of Easy Money: Institutional Investors and the Private Markets
It will take time for the system to work through what is effectively a liquidity queue.
Risk
Private Credit Could Threaten Financial Stability, Create Huge Losses, IMF Warns
Pension funds, sovereign wealth funds, insurance firms and family offices ‘could be caught unaware by a dramatic rerating of credit risks across the asset class.’
Research
What Does Moody’s Bad Outlook for 3 Key BDCs Mean for Private Credit?
Maybe not much. The business development company stock index has kept climbing, regardless.
Risk
Private Capital Fundraising Tilts Toward the Big Guys
Slowdown in number of firms pulling in fresh money means more for the top 10 funds, Preqin says.
Asset Allocation
Why Private Credit May Not Be as Good as It Looks
Factor in risk adjustments and fees, and this fast-growing asset class’s high returns get whittled down, an academic paper finds.
Research
Insurers Increasingly Interested in Private Credit, Per GSAM
Insurers who manage $13 trillion in the Americas and APAC see high returns in private credit, according to Goldman Sachs’ 13th annual global insurance survey.
Pensions
CalPERS Approves New Private Assets Allocation in Private Equity Push
The pension fund will increase private market assets to 40% of its portfolio, up from 33%, reducing equities and fixed income.
Asset Allocation
Private Capital Payouts Are Sub-Par, Hamilton Lane Charges
These alternative asset funds reduce distributions to investors amid high rates and recession jitters.
Risk
Is Private Credit Starting to Show Some Stress?
A pair of global lenders have disclosed bad private credit deals in recent weeks, spotlighting the need for due diligence in the sector.
Asset Allocation
Private Credit Is Changing Everything, Even Bankruptcy
Restructuring professionals report an uptick in both restructuring activity and private equity sponsors considering turning indebted businesses over to their lenders.
Asset Allocation
Connecticut Commits $1.1B in Private Credit, Real Estate Investments
Treasurer Erick Russell looks to diversify the state pension funds’ private credit portfolio through two European funds.
Asset Allocation
Private Credit’s Rise: You Ain’t Seen Nothin’ Yet
Consulting firm Oliver Wyman predicts even greater use of this category of debt.