Private Debt and Direct Lending - Articles & White Papers

The Capital Group Fixed Income Horizons Survey 2026 captures the views of 300 senior investment professionals at institutional asset owners across Asia-Pacific, Europe and the Middle East (EMEA) and North America, including pension funds, insurers, endowments and foundations, single family offices and sovereign wealth funds.

Mawer's global credit team debuts The Extra Credit Review, a deep-dive into fixed income markets. Against a backdrop of resilient credit spreads and rising macro uncertainty, this inaugural issue examines four interconnected pressures: the disappearance of new issue concessions, hyperscaler mega-deals testing the limits of bond…

Fidelity's Capital Market Assumptions (CMAs) provide return, volatility and correlation forecasts for various asset classes, typically over a strategic ten-year investment horizon. They are calculated using a proprietary model which employs quantitative econometric analysis and incorporates a diverse range of inputs, including…

Fidelity's Capital Market Assumptions (CMAs) provide return, volatility and correlation forecasts for various asset classes, typically over a strategic ten-year investment horizon. They are calculated using a proprietary model which employs quantitative econometric analysis and incorporates a diverse range of inputs, including…

The leveraged finance market is confronting an “AI faultline” whereby the early promise of operational efficiency is giving way to clear fractures in legacy business profiles in certain issuer segments.

As diplomacy wavers, tech continues to deliver. The U.S. and Iran remain under a fragile ceasefire, and investors are still awaiting signs that diplomacy can restore energy flows and shipping through the Strait of Hormuz. Meanwhile, strong fundamentals, especially AI-driven earnings growth and chip demand, are lifting some…

With spreads tight and dispersion rising, the tools investors use to judge performance matter more than ever.

Private Credit has moved to the forefront of market discussions, often associated with concerns over liquidity, asset quality and underwriting standards, as well as investor behaviour.

PGIM's 12-month outlook explores how the AI investment cycle, evolving rate dynamics, and geopolitical developments are reshaping markets, while highlighting where selectivity, diversification, and income opportunities may be most compelling. Across asset classes and regions, it outlines actionable themes to help…

Neuberger believes the private credit market is much more diverse—and resilient—than the recent focus on corporate direct lending and BDCs would suggest.

Private credit concerns have risen, driven by software displacement fear and retail liquidity challenges, with Federal Reserve inquiries and gating headlines reinforcing these fears.

Asset-based finance is a vast category of investments. Learn how differences in structural protections and sourcing models help institutional investors parse the universe.

This piece highlights seven key factors allocators should evaluate, along with specific due diligence questions that can help differentiate between managers.

Muzinich & Co believes the current environment presents a favorable backdrop for BDCs. Valuations have come under pressure, with the S&P BDC Index trading at 0.86x price-to-book and yielding around 11.7%.

BDCs are investment vehicles that provide financing to the U.S. middle-market sector, typically privately held or smaller public firms primarily through debt instruments, spanning senior secured loans to subordinated and mezzanine instruments. BDCs have historically offered some of the highest yields among liquid asset…

Securitization allows banks to pool loans – like mortgages, car loans or financing for local businesses – and sell them to investors as bonds. Offloading them gives these banks more flexibility to lend more money to more households and small businesses. Securitizations also benefit European savers and retirees, providing…

This report outlines the themes shaping today’s private markets environment, from private equity and venture capital to private credit, infrastructure and real assets.

Are private credit fears overblown? What’s really going into continuation vehicles? Do investment consultants add value? Explore these questions and more.