All Private Debt articles
-
White papersAI financing: Bubble, breakthrough or the next fixed income supercycle?
AI represents a major investment cycle with distinctive financial foundations. In this paper, fixed income portfolio manager Sandro Lazzarini and analyst Theo Pan compare current AI financing to previous cycles and ask whether it could represent the next supercycle for bonds.
-
White papersMeasuring risk in the private credit markets
The direct lending market has experienced significant growth and has become an important part of institutional investors’ portfolios, offering potentially attractive risk-adjusted returns with higher current income than most fixed income alternatives. For middle market direct lenders (“MMDLs”) such as Principal Alternative Credit (“PAC”), the ability to properly analyze the underlying risk profile of a borrower and protect against principal loss is the primary determinant of future returns.
-
White papersInvesting, reimagined
At UBS’s Unified Global Alternatives (UGA), we cater to growing client demand for multi-alternative solutions. So what are these solutions, and why are they becoming increasingly prominent in client portfolios?
-
VideoHigh Yield’s Quality Upgrade
In episode 3, Joe Lynch, Global Head of Non-Investment Grade Credit, looks at what’s behind today’s attractive yields and how the below-investment-grade market has changed over the past 15 years. He discusses why he believes those yields may remain durable and why credit risk continues to be the key risk for investors.
-
White papersMike Freno on Barings’ Approach to Growth
Chairman, President & CEO Mike Freno Mike Freno spoke with IPE about Barings’ approach to long-term growth and the evolving opportunity across private markets.
-
White papersWebs of AI debt: Unpicking the capital and compute
AI is reshaping credit markets, with debt behind capital expenditure plans moving off balance sheet into opaque structures. Matthias Dettwiler and Greggory Price unravel the thread of interconnections and assess the underlying credit risks.
-
White papersThe expanding role of investment grade private credit in institutional portfolios
U.S. investment grade private corporate credit, debt issued directly to a small group of institutional lenders rather than sold on the public bond market, is seeing increased interest from asset allocators. The market predates the below-investment grade direct lending market by decades, driven largely by life insurers as a core fixed income allocation.
-
White papersThe expanding role of investment grade private credit in institutional portfolios
U.S. investment grade private corporate credit, debt issued directly to a small group of institutional lenders rather than sold on the public bond market, is seeing increased interest from asset allocators. The market predates the below-investment grade direct lending market by decades, driven largely by life insurers as a core fixed income allocation.
-
White papersWhat unicorns reveal about future investment risk
Private market investments are now a mainstay of institutional portfolios. Yet while allocations have grown, the information available to investors has not kept pace.
-
White papersRiding the wave up with European levered debt
The bottom of the cycle, when capital values have rebased and market recovery is evident, can be the best time to enter the real estate market as an investor. This is particularly the case for direct investors.
-
WebinarWebinar Replay: The Financing Gap and the Value-Add Opportunity
Exclusive in-depth discussions with Nuveen Real Estate’s senior leaders as they discuss real estate market trends and relevant sectors
-
VideoNAV Loans: From Fund Finance to Investment Opportunity
Net asset value (NAV) loans may offer solutions for private equity and benefits for insurers.
-
White papersCLOs: from niche to portfolio role
Persistent higher rates, attractive spreads, structural resilience and regulatory change are prompting investors to reassess the role of CLOs in institutional portfolios. ETF structures are also broadening access to the asset class.
-
White papersMarkets look past the noise
The investment environment in 2026 continues to be shaped by geopolitical uncertainty, evolving inflation dynamics and the accelerating impact of artificial intelligence (AI). Renewed tensions in the Middle East have reintroduced inflation risks through higher energy prices, while AI-related spending is creating upward pressure on inflation in some sectors. As a result, central banks are expected to maintain restrictive policy settings for longer than previously anticipated.
-
White papersBeyond the yield: The strategic role of euro high yield
As credit portfolios expand beyond traditional public markets, investors are becoming more deliberate in how they allocate risk. In this context, euro high yield (EUR HY) has evolved from a satellite exposure into a core allocation, valued for its ability to deliver income while preserving liquidity and transparency.
-
White papersDispelling the myths of infrastructure debt
Investors have historically turned to infrastructure as a resilient private markets asset class. Many institutional investors focus on the equity side of the capital structure to generate yield with potential upside but often overlook the debt side.
-
White papersMusic Royalties Explained: From Niche Market Segment to Institutional Asset Class
Scarce capital and specialized expertise are forging opportunity in an emerging segment of the private credit market.
-
VideoGemcast Episode 15: Finding Yield in Latin America
In episode 15 of Gemcast, Brad McKee, Head of Private Credit & Senior Portfolio Manager, discusses all things finding yield in Latin America - a region spanning over 20 countries and 8% of the world’s population. Brad shares his view on risk, the structural trends shaping the opportunity set, and where he sees the most compelling entry points for private credit investors over the next cycle.
-
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.
-
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.
