Insights

Chief Market Strategist Troy Gayeski dives into the potential opportunities and possible pitfalls in today’s private credit landscape.

We synthesize the latest analysis on macroeconomics, public markets and alternative strategies.

We dive into our recent research exploring the shifting role of banks amid the growth of private lending.

A new strategy note from Chief Market Strategist Troy Gayeski

Cyclical and secular forces are challenging the traditional banking sector. We explore the changing lending landscape and its implications for markets and investors as private alternatives fill the void as banks retreat.

Direct lending loss rates compare favorably to much of the leveraged finance market, as this week’s chart shows.