Direct lending

Specialty lending and real estate debt were mentioned as areas an interest for the next round of commitments from the $500bn-plus system after adding $18bn this fiscal year

Speaking at PDI’s Seoul Forum this week, executives from Hyundai Marine & Fire Insurance, Samsung Fire & Marine Insurance, National Federation of Fisheries Cooperatives and Government Employees Pension Service shared their key criteria for GP selection.

The Canada-based investor announced it will anchor Arini’s first direct lending fund alongside a substantial co-investment agreement.

CTPF’s private debt target allocation will be phased in over a 36-month period beginning 1 July.

A new report sees more regulation as an ‘important step forward’, in private credit especially.

Australian superfund Aware Super is one of the largest domestic players in the asset class Down Under – and continues to deploy capital through GPs overseas.

The $239bn retirement fund aims to pick GPs to invest in the asset class this year or early next, according to investment director Laurine Amiel.

Goldman Sachs and JPMorgan will serve as broker-dealers, keeping some debt on their balance sheet as well as leading third-party sales

Investing sequentially, rather than simultaneously considering allocations in ABF and niche strategies, could be harming some LPs returns.

It remains to be seen how successfully direct lending can navigate current headwinds. LPs with heavy exposures may welcome the rise of asset-based finance.