AI

Sponsors can complement good underwriting but not replace it, say Apogem Capital’s Bill Kindorf and Adam Willis.

A proactive approach to risk across portfolios and assets is key to staying on the front foot, say Gordon Brothers’ global head of credit Mark Bohntinsky and chief transaction officer Kyle Shonak.

The US private credit market puts in a strong performance despite market headwinds.

Grier Eliasek of Prospect Capital says a bifurcation in direct lending approaches has led to a proliferation in mid-market opportunities in the US, benefiting firms with the right resources.

Scaled lenders backed by institutional capital are positioned to succeed in the next cycle as sponsors prioritise certainty of execution, say Churchill Asset Management’s Derek Fricke and Jill White.

The worst of the software sell-off phase may be over, but private credit firms are still assessing the extent to which it will impact US portfolios over the coming months and years. David Brooke reports.

Houlihan Lokey’s paper offers the theory as Nvidia strikes deals with investment managers that illustrate the practice of AI infra buildout to the tune of $500bn.

The Fed’s disciplined analysis of private credit stands in sharp contrast to the FSB’s too-broad definitions and the ECB’s skewed scenarios, argues the global head of the Alternative Credit Council.

Market participants need to get their heads around what has changed, what hasn’t and what soon may.

Despite a wave of negative coverage, Goldman Sachs Alternatives argues private credit fundamentals remain strong, with attractive spreads and growing opportunity sets.