All Private Debt articles
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White papersManaging private asset allocations in open-ended funds Gilles-David
With their potential to enhance returns, diversify portfolios and capture an illiquidity premium, private assets have become increasingly attractive to institutional investors. Yet integrating private equity and private debt into open-ended funds available to retail clients remains far from straightforward. Even though a fund may offer investors periodic subscriptions and redemptions, the underlying private assets generate cash only gradually and with uncertain frequency. They also require liquidity to meet unpredictable capital calls.
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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 papersFour for fixed income: The themes driving bond markets
Many investors entered 2026 expecting slower growth, cooling inflation, and eventual Federal Reserve rate cuts. Instead, markets have faced a more complicated reality, with geopolitical tensions rising, oil prices moving higher, rates backing up, and investors pricing a meaningful probability of additional Fed tightening. Yet the U.S. economy remains resilient, inflation has generally improved, and productivity gains driven by technology and AI continue to support growth.
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White papersIndustrial outdoor storage moves toward the institutional inner circle
Private real estate credit managers seeking to diversify their investments in alternative sectors are primed for more in the industrial sub-category.
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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 papersNew Infrastructure Debt Era Takes Shape
In this Q&A with Infrastructure Investor, Pieter Welman discusses the resilience of infrastructure debt and the factors driving increased investor demand and market evolution.
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White papersInfra Debt’s Paradigm Shift
Infrastructure debt is entering a new phase of growth, shaped by structural mega-trends and evolving energy needs, as discussed in this Private Debt Investor Q&A with Pieter Welman.
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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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Asset Manager NewsNuveen and CalSTRS Form $2 Billion Strategic Partnership to Finance Sustainable Infrastructure Investments
CalSTRS to anchor Nuveen’s Energy & Power Infrastructure Credit strategy providing scale to meet generational demand for clean, affordable and secure energy and critical infrastructure
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White papersPrivate credit is not one market: why European allocators need a more precise lens
Private credit has moved from a niche allocation to a structural component of European institutional portfolios. Over the past 15 years, the global market has more than tripled in size, far outpacing the growth of the public credit universe.
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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 papersThe Rise and Rise of Private Debt for Insurance Investors
Private debt keeps gaining ground in insurance portfolios for many reasons.
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White papersOpen for business: Evergreens and the transformation of access to private markets
Until recently, investing in private markets meant accepting a deal: hand over your capital, wait several years, repeat. Evergreen vehicles offer a more efficient option.
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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 papersInfrastructure private debt provides resilience and returns
We recently spoke with Gilles Lengaigne, Infranity’s managing partner and head of origination and corporate development, and Sacha Kamp, managing director and global head of the debt investment team, about Infranity’s role in the market and what is happening in the infrastructure private debt sector. Following is an excerpt of that conversation.
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White papersThe great convergence
AI-driven data center demand is redrawing the map of energy infrastructure. In this paper, Nuveen’s Energy Infrastructure Credit team examines the wave of vertical integration sweeping across utilities, hyperscalers, and private capital…
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White papersStable income from backbone assets: An institutional investor’s introduction to infrastructure debt
Infrastructure means backbone assets that help the modern world function. Typically, these assets are physical facilities, networks, or systems. The common link across all the different types of infrastructure is that they enable economic, social, and operational function…
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PodcastConnecting the Dots: CIO Mid-Year Outlook. Adapting to the new investment landscape
From the evolving AI story to an inflationary backdrop, M&G Investments’ CIOs dissect a complex market where traditional rules of investing appear to be breaking down. Find out where they see risks and opportunities across equities, fixed income and private markets, and why they emphasise the importance of selectivity, diversification and a more dynamic approach to asset allocation in the second half of 2026.
