for asset allocators to unlisted investments
Private Credit
Manager selection key to direct lending
As direct lending matures and defaults begin to rise, institutional investors are placing greater emphasis on underwriting discipline, workout capabilities and manager specialisation.
Private credit faces its first real test
Moody’s believes long-term growth remains intact as the asset class evolves into a broader financial ecosystem.
Revitalising private credit portfolios
As private credit markets expand, institutional investors are looking beyond traditional direct lending strategies and paying closer attention to portfolio construction, liquidity management and manager selection.
How L&G’s annuity portfolio is evolving
Roman Hederer explains how the UK insurer is adapting its annuity strategy through private markets, productive finance and new sourcing partnerships.
Credit check
Institutional investors remain committed to private credit despite mounting scrutiny of the asset class, but are becoming more selective around underwriting standards and manager quality.
Insurers see value in private credit as risks come into focus
Private credit continues to offer attractive risk-adjusted returns, but manager selection and underwriting discipline will become increasingly important.
How AI is reshaping private markets
AI is accelerating change across private equity and credit, forcing investors to reassess risk, resilience and operational alpha
Is private credit in turmoil?
The asset class has regularly been in the headlines and the concerns are legitimate – but these issues can also be interpreted as signs that the sector is maturing.
Private credit enters late-cycle phase with shift to manager alpha
Leading institutional investors say capital inflows and spread compression are reshaping private credit – but disciplined underwriting and structural complexity still offer opportunity as the cycle matures.
Active management comes for private credit
As direct lending matures and other private credit areas expand, active investors can apply relative value strategies across sectors – and even entire markets – to pursue enhanced outcomes. By PIMCO’s Jason Steiner, Jason Mandinach and Russell Gannaway.
Reconsidering private markets for DC decumulation
Investors are exploring where private markets can add value in the retirement phase of defined contribution pension schemes – and where the industry risks applying accumulation-stage thinking to a fundamentally different problem.