The denominator effect combined with a need for liquidity has delivered a boost to the nascent credit secondaries market.
A few years ago there were doubts about whether the credit secondaries market had become fully established. There seems little room for such a view these days, writes Daniel Roddick.
If you’re a large manager with freshly raised capital, you may be poised to prosper. For others, things could be about to get more challenging. PDI examines the landscape for private debt following the recent banking woes.
Banks remain strong in Scandinavia, so debt funds are having to learn to compete on their own terms.
A Fund Finance Association event in February heard how the small subsector is gaining interest, but financing challenges persist.
Private funds are taking a larger share from banks as deal volumes grow.
The German market held up well in 2022, but 2023 could prove more challenging.
The UK has dropped behind France for the first time in terms of deals.
Inside: How turmoil among the banks is being felt by private lenders; Fidelity’s head of private credit strategies, Michael Curtis, on bringing public heft to private markets; A 15-page special report on the secondaries market; Plus much more…
Smaller businesses can offer outsized returns but managers need to do their homework first.