Evergreen

Wealth investors’ involvement in private credit will keep growing but the next phase will reward selectivity and alignment, says Michael Massarano, partner and deputy chief investment officer at Arcmont Asset Management.

The latest fund builds on a January partnership with Barings Portfolio Finance, PEI Private Credit can reveal.

The evergreen fund will be available to both institutions and private wealth investors.

The growth of continuation vehicles, evergreen funds and securitisation are contributing to the changing face of the fund finance market.

A run on redemptions in the private credit world has highlighted the importance of diligencing gating mechanisms in fund finance facilities.

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.

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.

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.

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

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