Economy

BIS research scrutinises private credit ratings, transparency, liquidity risk

Life insurers have shifted from simple asset-liability matching to linking with private equity and illiquid credit investments.

First Brands bankruptcy prompts questions over private credit exposure

The Ohio-based concern’s term loans were primarily underwritten and syndicated by investment banks.

Premium ‘still there’ as spreads decline

The private debt market does not want spreads of less than 500bps to become standard, delegates at the PDI DACH Forum in Munich heard.

Navigating national security concerns

Will the Trump administration’s America First Investment Policy fundamentally change global capital flows?

How will tariff uncertainty impact LP appetite for alternatives?

In response to the rise of US trade tariffs, LPs are turning towards private credit and infrastructure – and eyeing opportunities in Europe.

Is deglobalisation the new globalisation?

A new world order is expected to reshape the private markets opportunity set over the next five years.

Moody’s: Direct lenders losing ground to BSL in refinancing wave

The move to broadly syndicated loans portends a battle over ever-growing mega-deals.

Fitch: Systemic shock could expose private credit’s interconnectedness

The asset class’s growth, alongside spread compression and heightened competition have it approaching bubble status.

LPs put managers under the magnifying glass

Amid the struggles in private markets fundraising, private debt has fared relatively well. But investors have concerns, and that means their manager due diligence is getting more demanding.