Investors

LP-led deals made up 54% of the record $162bn of volume seen in 2024, with pricing improving across all asset classes, according to Jefferies’ Global Secondary Market Review.

Insurance companies and private pensions made major increases in their private debt allocations last year.

Lower mid-market private debt is a sweet spot, offering much higher spreads at lower leverage.

Pension fund is looking to nearly double its private debt allocation to 10% over the next three years.

The system plans on building exposure to infrastructure and private credit, along with pursuing its steady pace in private equity, to try to boost returns.

Oaktree’s co-founder argues that private and public debt can be equally risky, and draws a distinction between risk and volatility.

The US public pension’s offloading of around $2bn in credit fund stakes marks the latest sizeable deal in the maturing market.

The growth of private debt’s secondaries market has been rapid, mirroring to an extent its private equity equivalent. But greater specialisation may become a differentiating feature.

Ruling finds that for tax purposes, a limited partner is a passive partner.

A new service will help wealth managers to design private markets products for their high-net-worth clients.