All Loans articles
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White papersPrivate credit’s overlooked opportunity: the case for non-sponsored direct lending
Sponsored, direct lending continues to dominate the European private credit market representing approximately 80% of the region’s debt market. The growth of European direct lending is continuing apace with almost €100 billion raised over the last 2 years and total AUM now estimated at roughly €450 billion.
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White papersEuropean Private Loans: Quality by Design
European private loans should not be read as simply another form of private credit. They are better understood as, on average, high-quality investment grade bank lending, with embedded illiquidity premia well suited for a tight spread environment.
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White papersCutting through the noise: Why lower and core middle market direct lending still delivers value in clients’ portfolios
Private credit has become one of the most discussed corners of institutional investing — and one of the most misunderstood. Daily headlines about troubled borrowers, struggling business development companies (BDCs), redemption pressure, and concentrated software exposure have created the impression of a market under stress. But beneath the noise, the lower and core middle market direct lending segment that has historically powered investor outcomes is performing well, behaving as designed, and, in our view, is about to deliver one of its most attractive vintages in years.
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White papersCLOs: A More Selective Opportunity Set
CLOs remain supported by resilient fundamentals, strong demand and attractive carry, but compressed spreads and growing collateral dispersion are raising the bar for credit selection, manager discipline and portfolio construction.
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White papersHigh Yield Holding Firm as Opportunities Evolve
High yield bonds and loans remain well supported by resilient fundamentals and strong demand, with attractive all-in yields continuing to drive investor interest even as spreads remain tight.
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White papersPrivate Credit: An Emerging Silver Lining
Careful deal selection and attention to risk can help investors capitalize on recent market turbulence.
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White papersShifts, myths and monoliths: A clearer view on private debt
Private debt has come under increased scrutiny in recent months. But attention has focused on a relatively small corner of a vast and varied asset class. Here, we set out some of the biggest myths surrounding private debt and explain why the evidence does not support them.
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White papersHow U.S. middle market direct lending complements and enhances European portfolios
Direct lending continues to expand across Europe as institutional and sophisticated high-net-worth investors recognize the attractive opportunities available. Demand for private credit, and specifically middle market direct lending, is growing faster than supply, prompting investors to look beyond their domestic markets.
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White papersPrivate credit is not a monolith
Understanding dispersion across assets, vehicles, and leverage
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White papersAs the Playing Field Expands, Insurance Investors Must Stay Nimble
A holistic approach may help navigate the diverse, dynamic world of fixed-income opportunities.
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PodcastHow Asset-Based Finance Is Powering the AI Infrastructure Boom
Hyperscalers are spending more than $750 billion a year on AI infrastructure, and much of it is for physical hardware that needs financing. That’s creating a compelling opportunity for asset-based lenders who can underwrite real collateral and contracts rather than picking technology winners.
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White papersReasons to consider adding Real Estate Debt to your portfolio
We recommended carrying a real estate debt (RED) umbrella as it has the potential to help shelter your portfolio during investment storms. But what are some of the key factors for institutional investors to consider when adding real estate debt to their portfolios?
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White papersPutting Direct Lending in Context
Private credit is drawing increased attention, but not all strategies behave the same. Traditional middle market direct lending is best understood by looking beyond headlines to underlying fundamentals—an approach that helps explain its continued role in long‑term portfolios.
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White papersDirect Lending: What’s Changed — and What Hasn’t
Welcome to this month’s edition of Where Credit is Due — a newsletter from Barings recognizing value across the people and portfolios shaping credit markets today.
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White papersDirect Lending: What’s Changed — and What Hasn’t
Welcome to this month’s edition of Where Credit is Due — a newsletter from Barings recognizing value across the people and portfolios shaping credit markets today.
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PodcastCapital Solutions: A Flexible Response to Private Equity’s Exit Problem
Private credit headlines have been anxiety-inducing — but not all corners of private markets face the same pressures. Roughly $4 trillion in equity investments remain inside private equity funds awaiting exits…
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VideoHow does our trade finance process work?
In this video, Jingjing Pan, Senior Investment Analyst, outlines how credit quality, disciplined structuring and diversification can support resilient, risk-adjusted returns.
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White papersWhy private equity matters: Navigating the PE capital structure
Private equity is not a single investment, it is a spectrum, and knowing where each strategy sits in the capital structure can make all the difference in matching clients to the right risk and return profile. In this installment of The Lead Left, Churchill’s Randy Schwimmer walks through the full landscape of leveraged buyout investing, from senior secured direct lending to lower middle market equity, giving financial professionals a clear and practical framework for client conversations about private capital. If you’re helping clients navigate alternatives exposure, this is a useful place to start. Explore the full piece here.
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White papersPrivate credit’s origination divide
In private credit, how a manager sources and selects deals matters far more than market momentum, and that distinction is becoming increasingly consequential as the asset class matures under real macro pressure. In this installment of The Lead Left, Churchill’s Randy Schwimmer makes the case for why deal origination discipline, liquidity transparency, and investor education are now the defining factors separating quality private credit managers from the rest. Explore the full insights here.
