Private Debt

Here’s another instance of institutions pushing out the risk curve.

Banks once owned the majority of credit assets, leaving institutional investors with limited access to these markets. Although the financial crisis accelerated the banks’ exit from many of these investments, the process had begun earlier in the decade.

Banks used to do this, but it was too risky.  So now pensions can do it because they can’t get any returns on government bonds!

The Institutional Investor page isn’t great, but I always try to find something other than the Financial Times for this stuff.  I know that not everybody has a subscription.

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