Economy

Questions around risk won’t go away

In growing quickly, private debt has assumed a greater degree of importance as a source of liquidity – accompanying that come fears over what happens if things go wrong.

Financing the resurgence of American manufacturing

The sale-leaseback is in fashion due to a combination of a manufacturing construction revival and a credit crunch.

Real estate hybrid investments thrive amid credit crunch – LCN

Private equity real estate firm LCN says sale-leasebacks and build-to-suit deals offer considerable downside protection for investors.

KORE Wireless deal sees big cut in first lien leverage

The deal is part of a broad trend of refinancings for US mid-market businesses.

The credit crunch that private credit should be focused on

Regulatory pressure is curtailing banks’ willingness to lend and playing into the hands of non-banks, says Charlie Perer of SG Credit Partners.

Ares earnings call highlights private credit

CEO Arougheti and CFO Phillips strike optimistic notes of scaling ‘vintage after vintage’.

The default picture: The devil is in the details

In a split-screen moment, defaults are down but speculative defaults are up. Moody’s forecasts spec default rate will peak at 4.7% in early 2024.

Asset-based credit: As easy as ABC?

The flavour of the moment in private credit starts with an ‘A’ for asset. But how the phrase ends often depends on the type of product and the manager that’s selling it.

Private debt’s inexorable rise

Predictions of doom and gloom are not proving correct as 2023 draws to a close, and there are reasons for expecting the deals market to be prolific next year.

A question of systemic risk

Private credit has grown significantly since the last market crisis. There are those who think it now poses a wider threat to financial stability.