Risk Management

Citywire

Morgan Stanley: The good, the bad and the ugly in private credit PIK deals

WATCH: David Miller, head of private credit and equity, says interest payment deferrals are on the rise, but that Morgan Stanley keeps PIK deals below 3% in its direct lending portfolios.

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CNBC

Private credit is beginning to look like the bond market — and that comes with red flags

Private credit is starting to resemble the public debt market, as its expansion blurs lines that once separated private and public debt financing channels.

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Alternative Credit Investor

Oaktree to manage Allianz reinsurance assets in new Lloyd’s syndicate

Allianz has entered into a strategic partnership with Oaktree Capital Management to create a new reinsurance syndicate at Lloyd’s.

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Morningstar

Why a Lack of Fear Around Private Credit Won’t Protect Investors From Risk

Why institutional investors’ retreat from private equity should signal caution, and what financial history can tell us about the dangers of unrealistic return expectations in increasing frothy private markets.

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Wealth Management

Private Credit Managers Face New Scrutiny Risks

Advisors and asset managers stress due diligence as private credit faces fresh concerns while real estate offers selective opportunities

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Bloomberg

Private Credit, Equity Firms Face BOE Scrutiny in New Test

The Bank of England launched an exercise to war-game how the private credit and equity industry would respond to financial stress, amid growing regulatory concern over the growth of the sector.

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The Drawdown

Private credit’s investor woes | The Drawdown

Cross-border private credit needs to get its operational apparatus in shape, particularly around risk, complexity, reporting and transparency, research by CSC shows

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Semafor

Private credit defaults are coming — and that’s ok

Loan defaults won’t be catastrophic and are to be expected after a decade of easy money, said a BlackRock senior executive.

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FTI Consulting

Tackling Risk Effectively in Private Credit Market | FTI

FTI Consulting experts outline a risk-based approach to manage private credit portfolios through rigorous diligence and data-led oversight.

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