Justin Slaughter
‘Fake covenants’ and other signs of woe in today’s credit market call for selective investing, said David Golub.
A ‘hazardous market’ of high leverage and high pricings is a sign to invest in a low volatility asset, according to panellists at PDI’s New York Forum.
Regional investors are ramping up allocations to the asset class as an alternative to the more volatile public markets.
.jpg "Ninepoint launches Canadian defense debt fund – exclusive")
The Toronto-based asset manager is gunning for a C$500m fundraise.
The pension plan’s credit portfolio has cut the share of its portfolio reserved for real estate and private markets, which includes private equity investments.
The latest fundraise has surpassed the previous Fund III, which pulled in $1bn.
The pension’s overall credit portfolio was overweight at 19.31% of its total portfolio.
The fund has already invested $175m to date, with a focus on North America and some investments in Europe.
.jpg?id=19327353310 "Griffin moves BDC into interval credit fund")
The board argued regulatory challenges in BDC space made flexibility of interval credit fund more attractive structure.
The firm expects investor demand for BDCs to continue to grow.