Disclaimer: Views in this blog do not promote, and are not directly connected to any L&G product or service. Views are from a range of L&G investment professionals, may be specific to an author’s particular investment region or desk, and do not necessarily reflect the views of L&G. For investment professionals only.
Highly rated private credit – unsung heroes?
As the dust begins to settle following a turbulent 2022 and the recent banking crisis, we reflect on the varying dynamics of private credit markets, their differentiation and their role in investor portfolios.
Private credit is not a homogeneous asset class. Investors should not confuse highly rated assets with deeper sub-investment grade assets such as direct lending which are significantly riskier.
Over recent months yields for highly rated assets have become much more attractive, in our view, and are offering a meaningful premium over public equivalents.
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