Pension funds, sovereign wealth funds, insurance firms and family offices ‘could be caught unaware by a dramatic rerating of credit risks across the asset class.’
Maybe not much. The business development company stock index has kept climbing, regardless.
Factor in risk adjustments and fees, and this fast-growing asset class’s high returns get whittled down, an academic paper finds.
Insurers who manage $13 trillion in the Americas and APAC see high returns in private credit, according to Goldman Sachs’ 13th annual global insurance survey.
A pair of global lenders have disclosed bad private credit deals in recent weeks, spotlighting the need for due diligence in the sector.
Treasurer Erick Russell looks to diversify the state pension funds’ private credit portfolio through two European funds.
Consulting firm Oliver Wyman predicts even greater use of this category of debt.
A research paper profiles value-enhancing deals by the likes of CDPQ and PSP.
Yields are high, and well-fixed institutions back them, but what happens in a recession?
The School Employees Retirement System of Ohio topped its benchmark and raised its asset value to $17.8 billion.