Evergreen

Liquidity: Why continuation vehicles offer a potential mismatch

Continuation vehicles are emerging as a key liquidity tool in private credit, yet the majority of LPs are still opting to cash out amid rising market scrutiny.

Bain Capital on a large and growing direct lending opportunity

Asia-Pacific direct lending still demands borrower education but exciting new markets are opening up, says Andrew Schantz, a partner in credit and special situations, Hong Kong, at Bain Capital.

BNP Paribas: Fund administrators build the rails for a flourishing asset class

Asia-Pacific is a structurally promising market where the role of fund administrator is central to scaling private credit, says Christophe Picardel, head of private capital, Asia-Pacific, Securities Services at BNP Paribas.

Appetite for private credit remains strong among institutional investors

Market conditions are creating fear and loathing for some, but opportunity for others.

The illiquidity crisis: Democratised and distressed

Matthias Kirchgaessner examines retail redemption stress, institutional contagion channels and the broader repercussions for the private credit market.

Semi-liquid funds: The hits keep coming

By now there is widespread acknowledgement that something is awry in private credit, both with redemptions in semi-liquid funds and valuations.

Liquidity seekers might just need a different vehicle

While there appears to be investor support for greater convergence of public and private debt, fund structuring issues need to be resolved.

Ares, Apollo cap semi-liquid redemptions at 5%, FS KKR downgraded

Apollo and Ares’ funds join a growing list of funds enforcing redemption limits, seeking to avoid downgrades.

BDC redemptions – déjà vu all over again

We’ve seen this movie before, but that was before private credit became a household term.

Benefit Street Partners on private credit’s third act: Scale, flexibility and consolidation

Institutional investors are allocating more to alternative credit because of the excess returns and diversification, but they want deeper relationships with fewer managers, say Benefit Street Partners’ David Manlowe, Allison Davi and Daire Wheeler.