AI

Private credit is finding opportunities across data centre capital stacks and physical infrastructure, as several issues lurk in the background.

Steven Tenenbayev, chief investment officer at InterVest capital partners, explains what is required to capitalise on asset-based finance’s continued growth.

The asset class continues to gain momentum among institutional investors, giving smaller managers in niche areas a chance to show off their credentials.

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.