Asset-backed finance

One attraction is that assets offer a diversification play relative to other fixed income exposures, says Goldman Sachs Asset Management’s Kevin Sterling.

Investors prefer more targeted strategies to mainstream mid-market direct lending.

Leading fund managers and investors discuss five key trends driving private debt’s most esoteric array of alternative investments.

Lending secured by assets on a company’s balance sheet is a growing form of finance.

Asset-based finance can be strongly complementary to direct lending, says Dan Pietrzak, partner and global head of private credit at KKR.

Partnership exemplifies recent trend of insurance and private debt firms converging to form synergies.

Lenders are keen to diversify away from cashflow-based lending into more esoteric areas.

Manager finances energy storage developer as part of a broader expansion of US operations to take advantage of the Basel III endgame and ABL.

The next wave of private debt is just starting to build – and it’s called asset-based lending. But supply of GPs is not yet keeping pace with demand from LPs.