The fixed-income landscape has changed drastically in recent years. The universe of privately placed loans has increased significantly, as has the terminology that is used to refer to them, such as Illiquid Assets, Alternative Fixed Income and Private Debt.
Examples include commercial real estate loans, project financing and corporate loans. With the current low-yield environment posing a challenge for institutional investors, Private Debt can form an attractive alternative to classic fixed income. Caroline Muste-Merks, Head of Private Debt at NN Investment Partners, discusses this new asset class for institutional investors and the opportunities it offers.
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