Economy

BDCs face challenges, competitive pressures

Business development companies are expecting strong income and dividend coverage but there are also headwinds to contend with. PDI examines the views of two rating agencies.

Seven growth opportunities: The return of the mid-market

M&A activity looks set to finally rebound in 2024, with lenders reporting a strong start to the year.

Recession ‘necessary’ to help bridge buyer-seller valuation gap

High interest rates have made the cost of capital expensive and have led buyers to view certain assets as worth less than sellers’ asking prices.

What’s on the minds of European investors?

So much has changed in the private debt world over the last year or so, and Europe has its own particular set of challenges. Delegates at our Europe Summit this week tuned in to the key talking points.

Ares raises over $17bn in Q1, with more than $14bn in the credit group

LA-based manager has a record amount of available capital, but sees dip in fundraising from Q4 2023.

Rates and risk impact private credit valuations

Are there systemic and valuation risks in the private credit market? VRC’s John Czapla investigates.

SNC report shows steep rise in US troubled loans

The Shared National Credit Program has clocked a 38% increase in ‘non-pass’ loans to $572bn; Marblegate sees opportunity.

PIMCO’s Trausch: ‘A tsunami of refinancing is coming’

Speaking at the PERE Network Europe Forum, the CEO and CIO of the asset management giant said Europe’s debt funding crisis is about to intensify.

Will there be a horde of UK zombies?

Tough times may lie ahead for the UK – but will expectations for distressed activity be realised this time?

China focus: LPs tread carefully on Chinese private debt

Investors are understandably nervous about Chinese private credit, but there are still opportunities for those willing to seek them out.