Allocation

Sweden’s LF, the Netherlands’ NN Group and UK firms Pension Insurance Corporation and Foresters Friendly Society are exploring new opportunities in illiquid credit.

The insurer’s head of portfolio management, Roman Hederer, sees more opportunities and value now in the asset class than a few years ago, particularly in Europe.

Washington heard from its consultant, Albourne Partners, that ramping up a private credit allocation in a stressed market may allow for stronger documentation and higher spreads.

Net proceeds near C$1bn to be redeployed as the market for NPL portfolios changes.

Singapore-based partner Audrey The sees fast growth in the investment advisory firm’s wealthy client base in Asia and a continued rise in new allocations to private credit.

Retail investor redemptions are not being viewed as a troubling sign for private credit GPs, panellists say, echoing US SEC chair’s sentiment that asset class is not facing systemic issues.

Brey Jones and John McGuinness have formed Thirdpath, an advisory shop focused on constructing customised private equity and private credit portfolios for institutions.

LPs should prioritise credit selection rather than splitting their portfolios across ’20 or 30’ GPs, says Daniel Garant, global head of capital markets and credit investments.

A growing number of LPs in South Korea see secondaries as an opportunity to invest in credit at a low price with downside protection.

At least two Korean LPs are temporarily holding off on new commitments to corporate credit funds.