All Loans articles – Page 2
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White papers
Forging sustainable investments in European leveraged finance and CLOs: Part 1
In the past two years, the proportion of European assets under management with an ESG overlay (as measured by funds that are categorised as Article 8 and 9 under the Sustainable Finance Disclosure Regulation, or SFDR) has risen to nearly 60%.
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Distressed Credit: Changing Tides
For over a decade now, a low interest rate environment allowed for companies to take on significant levels of debt to fund their expansion efforts. Ray Costa, Benefit Street Partners, and Eric Larsson, Alcentra, discuss the impact of the changing US and European macro picture on the distressed debt market.
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Leveraged Credit Mid-Year Market Review & 2023 Outlook
Perspective on a tumultuous year to date and what an economic contraction could mean for investors
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Navigating rising distress levels in leveraged loans
A direct lending strategy focused on the northern European senior secured segment offers one of the best protected high yielding opportunities at the present time, says Laura Vaughan, Head of Direct Lending.
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Clear and easy access: Gaining entry to private credit
As private markets continue to evolve, improved accessibility is opening the doors to potentially unique opportunities across the private credit spectrum through different fund structures that seek to meet diverse needs.
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Private Markets Outlook: New ideas for a new regime
The end of the easy money era requires new approaches to private market investing. We reveal the key risks and opportunities across major private market asset classes and the critical investment implications to consider to prosper in this new market landscape.
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Five Reasons to Buy European Loans
In a world where interest rates have increased dramatically and geopolitical risks are elevated, investors are torn between seeking yield and preserving capital. European loans can help investors pursue both goals.
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Parsing Risk and Reward in High Yield Investing
Understanding the attractive liquidity premium available to patient, long-term investors in leveraged credit markets
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Private Placement Debt is an All-Weather Investment Strategy
The unique characteristics of private placement debt help position the asset class to perform well despite the potential for an economic slowdown or recession. Private placement debt is predominantly investment grade, comes with structural protections, and offers the potential for incremental income.
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Commercial real estate: The next shoe to drop for the banking sector?
Even before the collapse of Silicon Valley Bank, the outlook for parts of the CRE market appeared dim. Now with lending standards growing tighter, investors are getting increasingly nervous about problematic properties lurking on bank balance sheets.
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Video
Beyond Fundamentals: Taking A Deeper Look at Credit Risk
Many people refer to high yield bonds as “junk,” which immediately makes the issuers sound like low-quality businesses. From our standpoint, that is true for some parts of the universe but certainly not all. The high yield market has evolved substantially over the past 25 years. It now includes many high-quality businesses willing to take on more debt to finance their operations and fund their future growth.
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Stress in US regional banks continues, while the Fed moves towards a pause
The recent banking stress has been a real test of capital and liquidity regulations enacted after the 2008 crisis.
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Don’t Bank on Bank Loans in 2023
As bond yields rose in 2022, investors sought refuge in high-yield bank loans, whose floating coupons are often heralded as an antidote to rising rates. But with conditions shaping up differently in 2023, bank loans may face challenges. We think income-seeking investors should instead consider a more diversified approach that balances rate and credit risks. Here’s why.
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Commercial Real Estate: Emerging Value Amidst the Storm
This post provides a brief overview of current conditions within the CRE market, assess the implications of tighter lending conditions, and shares our investment views in the current environment.
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How could tighter bank lending impact growth?
In the latest instalment of Simply put, where we make macro calls with a multi-asset perspective, we consider how the banking crisis will impact the credit channel to the economy. How could a contraction in bank loans lower US GDP?
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The Fluidity of Liquidity
To meet policyholder demands and terms of their financing arrangements, life insurers must maintain adequate levels of liquidity. Here are some reasons why today’s environment makes liquidity management so critical.
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Is Europe Facing Another Banking Crisis?
Investors in European bank shares have been rattled by recent turmoil in the sector. But many banks are in much better shape than widely perceived, and the sector is subject to much tighter regulation than in the US. Select financial stocks should be able to weather the storm and perform well over time.
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White papers
A viewpoint on CLO markets: past, present, and future
Himani Trivedi, head of structured credit at Nuveen, shares her thoughts on the current state of the CLO markets, a lookback to 2022, and a view of what the coming year holds for CLOs.
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White papers
Wait-and-See Characterizes Mood of CLO Market
As concerns about the banking sector add to continuing macroeconomic uncertainty, the CLO market finds itself largely becalmed as participants await clearer signs of the market’s future direction.