Why private debt? Investing in the debt of private companies may provide an alternative source of income and diversification at a time when both are difficult to find within traditional markets.  Institutional investors have long turned to private debt strategies for their potential to generate a high level of income and diversify their fixed income...

Private credit investors’ realized losses have been about half that of unrealized markdowns during the past three periods of market stress.

Amid private debt’s massive growth, this week’s chart looks at the healthy yield premium of private credit transactions compared to public markets.

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

Private credit has become PE sponsors’ primary source of financing for LBOs and M&A activity as the asset class becomes increasingly mainstream.

This week’s chart looks at private CRE debt’s notable yield premium to cash, even as cash yields are elevated.

A missing piece of many private credit allocations In the wake of the Global Financial Crisis and a wave of regional bank failures in 2023, banks continue to rein in risk-taking, exit non-core businesses and narrow their focus to core sectors and clients. Private, non-bank lenders have stepped into the void to meet the diverse...

This week’s chart looks at a shifting opportunity set as the private middle market shines while small cap company earnings remain challenged.

Paltry income, little price appreciation leave fixed income investors in a bind. Our chart breaks down Agg returns, outlining potential trouble ahead.