Direct lending

President Jon Gray sees the dealmaking pause in the rearview mirror, and expresses optimism for a return of M&A.

Direct lending takes pressure off banks, KBRA argues, aiding the financial system.

Direct lending to sponsor-backed corporates has become a crowded market, Federated Hermes’ report found.

IMM Credit & Solutions already has around $2.2bn of AUM across 12 investments, chief executive Chan-Woo Park and vice-president Jong Weon Lee tell PDI.

The partnership mirrors a recent announcement from another retirement services provider that touched off regulatory scrutiny.

After exploring Europe’s credit landscape, the $16bn Californian pension is looking to add a manager targeting an overseas strategy this fall.

The firm also completed its second deal in Germany as it looks to expand its geographic reach.

The industry’s biggest challenge is to widen access to private credit for both investors and borrowers, writes Jackson Square’s Timothy Alexander.

Low loss performance, low distributions from PE and willingness to trade liquidity for yield bringing family offices off the sidelines.