Regulation

With the first details of the BoE stress test now emerging, firms had better get ready for a surge in interest from regulators.

The body’s focus on expanding regulation of private credit funds is misplaced and inconsistent with prudential logic.

ASIC says it needs ‘greater visibility’ to support market integrity and help maintain confidence, and will carry out ‘targeted surveillance’ in the next 18 months.

Fund structures are evolving to meet the evolving needs of LPs and the new wave of retailisation.

Private debt has flourished by virtue of a different regulatory treatment to banking, but consensus is developing that this environment cannot last forever.

There is a general feeling that the industry sits on the edge of a major shift.

Off the back of a slew of multibillion-dollar M&A deals, what does the future hold for the burgeoning relationship between US insurers and private credit firms?

An increasingly varied dealmaking environment means lenders are working harder than ever to attract LP interest.

‘Private Credit+’ is a $45trn opportunity globally. Direct lending, $1.5trn of that amount, is saturated, the report says.