All Private Debt articles
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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.
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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.
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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.
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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.
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VideoNAV Loans: From Fund Finance to Investment Opportunity
Net asset value (NAV) loans may offer solutions for private equity and benefits for insurers.
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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.
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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.
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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.
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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 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 papersCutting through the noise: Why lower and core middle market direct lending still delivers value in clients’ portfolios.
A long-form perspective from Principal Alternative Credit on what investors should be watching—and what the headlines are missing—in today’s private credit market.
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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 papersWhat investors should watch as private credit market matures
Private credit entered 2026 with familiar momentum: durable investor demand, an expanding opportunity set, and a growing role in institutional portfolios. Yet the first half of the year also brought a noticeable shift in market sentiment. Headlines around redemptions from semi-liquid funds, default activity, and pockets of borrower stress have challenged the perception of private credit as a uniformly resilient and continuously expanding asset class.
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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.
