Asset-backed finance

Staff at the $620bn California pension expect the new and increasingly diversified program to perform well amid software exposure concerns and redemption pressure headlines.

Management, Daiichi Life Insurance and Korea Investment Holdings will provide permanent capital with more than $5bn annual origination capacity

The asset-based fund beat its target and raised $12.7bn of investable capital including commitments extended from the prior vintage.

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.

The US firm has hired an executive from JP Morgan, as insurers and other allocators continue to push into private credit, Private Debt Investor can reveal.

Cambridge Associates’ Asia team is focusing more on asset-based finance, lower mid-market direct lending and speciality lending, with an eye on regional diversification.

We examine the top takeaways from Private Debt Investor’s Japan Korea Week at a watershed moment for the global private credit industry.

Investor demand for private debt has flourished, but strong alignment will distinguish the highest-quality lenders, say Corinthia Global Management’s Craig Shirey, Mark Wilton and Boris Okuliar.

Speaking at a PEI Investor Council event in Sydney, the superfunds said their debt portfolios were performing well and that recent high-profile fund redemptions did not change market fundamentals.

According to some, the future is at stake (and perhaps be worried if your firm name begins with ‘B’), but there is little in the way of evidence that private credit faces a crisis that spans the entire asset class.