for asset allocators to unlisted investments
Private Credit
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.
Why SME finance is the most compelling private credit opportunity
Joanne Butler, DunPort Capital Management, sets out how UK SME lending and place-based impact investing sits at the heart of resilient portfolios.
Investing in UK Growth Summit report
Institutional investors and investment experts discuss where capital can be deployed to both deliver returns and support domestic growth
Inside a UK life insurer’s approach to private credit
Clarence Er explains how more complex structures and a tougher macro backdrop are redefining how life insurers navigate private credit
Running on: DB schemes extend their investment horizons
Improved funding and lighter regulation are prompting well-funded pension schemes to delay buyout and pursue longer-term allocations to private credit, infrastructure debt and other illiquids
The private market trends shaping future opportunity
Private markets have changed dramatically in recent years – and the next phase could be just as transformative. As investors adapt to a more complex environment, Franklin Templeton explores three key trends reshaping portfolios
USS provides masterclass in private markets
The UK’s leading non-governmental DB pension scheme investor in private markets talks to PMP about building its exposures over almost twenty years
TPT builds scale one block at a time
CEO and head of investment management tell PMP how the scheme consolidator uses its building block strategy to achieve economies of scale across multiple types of pension proposition
Clara targets the DB private markets conundrum
ClaraPensions CEO tells PMP that illiquid allocations do not have to be a barrier for defined benefit pension schemes seeking to secure an insurer buyout