MacKay Shields' core view is that income generation (carry) will replace price appreciation as the primary driver of total returns. With inflation settling at a “sticky” 3% and the term premium rising, the firm is positioning for a “higher-for-longer” paradigm.
The U.S. banking industry is entering a new era in which regulated banks and private lenders are increasingly intertwined. This trend will continue to open attractive opportunities for dynamic allocation across the credit spectrum.
The industry’s growth could hit new milestones amid expansion beyond the core corporate lending segment and rising interest from private wealth investors.
As the private credit market surges toward $3 trillion in assets1, concerns are growing over the potential formation of a bubble—driven by too much capital chasing too few high-profile lending opportunities. Rather than focusing on whether the market is in a bubble, this article explores how to strategically manage risk within…
Direct corporate lending has grown nearly ninefold since 2015, intensifying competition across the leveraged corporate credit landscape. Davidson Kempner sees attractive opportunities in portions of Asset-Based Finance (ABF), where credit is secured by assets.
The report features a first-of-its-kind dataset of key deal metrics from 153 transactions to compare risk-return dynamics in Asia, Latin America, Africa, CEE and the Middle East (GPCA markets) and the U.S., respectively.
