Nuveen, a TIAA company’s Post

In our recent CLO report, Pretium Senior Managing Director, Head of Structured Credit, Jerry Ouderkirk outlines the strategic case for CLO Equity as an attractive alternative for asset allocators looking to diversify their private credit exposure.   Jerry provides a comprehensive analysis of how the U.S. CLO asset class has expanded over the past decade, and where he sees it heading in the years to come.   Read the full report: https://lnkd.in/g3RRFutn   #CLO #Equity #Investing

Great read here on CLO equity and how compelling it is for investors, especially those seeking high levels of income and strong distributions from the outset of the investment - which is especially valuable in a world of delayed realizations in other alternative asset classes. At the same time, investors benefit from term leverage and professional management of the CLOs and the funds investing in the equity This allows both the managers of the deals themselves (as long as not static) to build par during periods of dislocation and for CLO equity investors to capitalize on attractive secondary market opportunities to buy equity at a discount leading to potentially higher cash-on-cash returns.

🔍 Are private credit investments cannibalising CLO collateral? Debtwire’s Jelena Cvejic will be joined by industry experts Roxana Mirica of Apax Partners, David Altenhofen of Accunia Credit Management, Gina Germano of Hayfin Capital Management LLP, Adeel Shafiqullah of Sculptor Capital Management and Blake Jones of Clifford Chance to explore fund allocation dilemmas, the evolving role of private equity funds and more! Want more details? Comment below to get all the information! 👇

We sincerely appreciate you taking the time to learn more about the London Credit Fund. We hope you found our presentation insightful and valuable.  In case you missed it, you can access the webinar recording through the following link: https://lnkd.in/dx6fV7sq For any inquiries, please don’t hesitate to reach out. Georgia Bourouchtsi [email protected] +35722361300 Investing: It’s All About Results. #Consulco #ConsulcoInvestments #LondonCreditFund #ConsulcoWebinar #LondonCreditFundUpdates #AlternativeInvestments

I am very pleased to have had the opportunity to discuss LPs views on private credit at the IMpower Incorporating FundForum in Monaco. It was great to share the stage with José María Martínez-Sanjuán, CFA, CAIA and Alexandra Daly. Direct Lending continues to deliver attractive spreads and returns and to act as a compelling fixed income replacement or supplement in investors' portfolios, while providing lower volatility and stricter covenants and clauses to protect lenders from losses as compared to public debt markets. Despite banks stepping back into the lending space recently, the outlook for private credit should remain strong as alternative asset managers offer some critical benefits to corporates and PE sponsors like speed and certainty of execution, confidentiality of a bilateral agreement and bespoke terms to address specific borrower's needs.

While secondaries and private credit lending are two of the most active investment strategies in this era of private markets, private credit secondaries remains a fraction of the overall capital raised and deployed. Leading global alternative asset manager Tikehau Capital are one of the pioneers in this strategy and it is worth tracking this market as LP interest correspondingly increases with dealflow and the growth in the overall private credit market over the past decade, plus LP prioritization in distributions from maturing funds ie DPI. Other players in the space include Ares Management Corporation, Coller Capital, StepStone Group, Pantheon, Atalaya Capital Management. The discounts to yielding funds and shorter-duration to maturity can be quite attractive. What are some of the key challenges faced in private credit secondaries relative to private equity secondaries? #fundraising #privatecredit #secondaries #privatemarkets #alternativeinvestments #institutionalinvestors #fundmanagers #capitalmarkets #limitedpartners https://lnkd.in/gfDf_n97

Explore the next big opportunity in the private credit industry on the latest coverage of strategic shifts by major firms toward Latin America. As the industry faces a slump in fundraising, key players like Adams Street Partners and Antares Capital LP, mentioned in our source from Nasdaq, are innovatively targeting new investor bases in regions less tapped. Philippe A. Stiernon of ROAM Capital underscores the potential of Latin America, describing it as 'the last major frontier for LP growth.' https://lnkd.in/eTfzKvjS #PrivateDebt #PrivateCredit

#goldmansachs has closed a $7B fund for #realestate #privatecredit which is part of the broader trend of private credit funds for real estate. Is this an indicator of the commercial real estate distress on the horizon? Will this solve the problem or delay the inevitable creating #zombieassets? Are the funds/companies ready to own and operate the underlying assets with the right #tech #systems and #processes? https://lnkd.in/eQq7c72r

We are delighted to share that Elena Rinaldi, CFA, from our Asset-Backed Securities team, has been appointed as Co-Chair of the European Leveraged Finance Association’s CLO Investor Committee. The committee provides a forum for members to identify and respond to CLO investors’ requirements, facilitate discussion on general market progress and key issues, and contribute to the regulatory dialogue on the asset class. Elena will be co-chairing the committee alongside Denis Struc, a Portfolio Manager on Janus Henderson Investors’ Secured Credit Team and co-manager of their Asset-Backed Securities and Global Short Duration Credit strategies. https://okt.to/EexBJN #clo #securitisation #AssetBackedSecurities