Asset-backed finance

GPs’ view: ‘There will always be a place for direct lending’

GPs from PDI’s Rising Stars 2024 list discuss the increasingly blurred lines between private and public credit markets and why asset-backed strategies might rival, rather than replace, direct lending.

Barings: Defining and capitalising on the ABF opportunity

Jim Moore, head of private placements and asset-based finance at Barings, explains how the market is reacting to the growing ABF opportunity set.

Strategies: LPs broaden horizons

Appetite for credit secondaries, distressed and subordinated debt strategies is growing among LPs – where can the market expect to see the next wave of growth?

Rithm Capital: Keeping private debt functions under one roof

Despite a proliferation in asset-backed finance partnerships in recent months, possessing in-house origination and servicing capabilities is critical to delivering predictable returns, says Rithm Capital’s chief executive officer Michael Nierenberg.

AllianceBernstein on the enduring appeal of private credit

Mid-market direct lending, asset-backed finance and even commercial real estate continue to generate attractive opportunities despite widespread macro volatility, says Chris Hedberg, AllianceBernstein’s head of capital formation for pr­ivate alternatives.

LPs’ view: ‘I expect ABL and credit secondaries to expand rapidly’

LPs featured in our Rising Stars 2024 list expect private credit’s fundamentals to maintain their significance over the coming months – though growth is expected in several key areas.

Carlyle highlights insurance, secondaries and credit in Q3 earnings

The firm’s AlpInvest secondaries unit and private wealth help power its growth in AUM, while its private equity business shrank.

Credit markets, rates, overshadow ABF, interval fund launch in Blue Owl Q3

Nascent fears over credit market health and lending standards weigh on the earnings of the manager, which is staking its future on ABF and retail investors.

Blackstone Credit & Insurance helps power Q3 earnings

Blackstone execs do not see recent defaults as ominous for the traditional private credit market and say they are issues for the banks, as noted on the earnings call.

Viola secures $2bn for fintech-powered lenders

The fund will invest in lenders using fintech to disrupt traditional financial services sectors.