Fund Managers

Diversification isn’t a new concept, but in a private credit asset class where direct lending is no longer as dominant as it once was, the need to understand the nuances of different strategies is urgent. The PEI Private Credit team discusses from the New York Forum in this podcast.

HLEND filled close to 44% redemption requests, prorated; BDEBT filled 100%, no proration.

Optimism has not been eroded in an asset class facing both scare stories and genuine challenges.

Golub Capital launched its GP-led strategy last September, pledging to commit $1bn.

A recent note from the FCA highlighted both the rapid growth of the asset class and various areas of concern.

In today’s edition, Santander grows its infrastructure debt operation to help manage two new funds. Plus: smaller managers are finding fundraising a struggle; and we invite our readers to participate in our emerging manager survey. Here’s today’s brief for our valued subscribers only.

Asset-based lending and term lending are coming together to meet challenges for a wide range of companies under pressure, argues Richard Gumbrecht.

The firm secured its largest fundraise to date to provide credit to early stage and growth businesses.

Continuation vehicles backed by Pantheon will acquire a total of roughly $2bn of private credit investments.

Despite reaching AUM of $50bn, appetite has not been satisfied for collateralised loan obligations – and retailisation is causing the source of that demand to shift to a wider market.