PERE Credit’s Post

Read our latest Asset Management Viewpoint, The Right Vintage of Private Credit, here: https://lnkd.in/e4HsHq76

Earlier this year, Bayview Asset Management structured two trades totaling $642 million, reminiscent of financial instruments last seen during the 2008 crisis. This hedge fund sold insurance against losses on a loan portfolio to two U.S. lenders and subsequently distributed much of that risk to investors. The transactions, a form of re-securitization, involved Bayview selling credit default swaps (CDS) to Huntington and Sofi late last year. These trades echo pre-crisis practices, modeled on transactions by a major U.S. bank before the financial meltdown, according to Moody’s reports and a source familiar with the deals. #US #HedgeFunds #Fund #Insurance #Lender #News #Finance #Finance360

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Brookfield Asset Management struck a partnership with Castlelake LP, which manages about $22 b, to get a majority share of the private debt firm’s fee-related earnings. Brookfield Asset will invest about $1.5 b, including money that the firm’s reinsurance arm will place in Castlelake’s strategies. It expects credit to be its fastest growing business, more than tripling in size over the next five years -- — help reach $1 trillion of fee-bearing assets by 2028, up from $457 b at the end of last year. Castlelake will still operate independently and retains majority ownership of its earnings tied to performance. Brookfield also has partnerships with Oaktree Capital Management — in which it acquired a majority stake in 2019 — as well as European credit manager LCM Partners, Primary Wave and 17Capital.

Oaktree Capital Management, L.P. cut management fees on a private credit fund aimed at individual investors by a third, following an increase in problem loans and disappointing earnings. Lowering fees is one way that managers can make up for weak performance in their portfolio or encourage investors to deploy more capital into their funds. Vehicles managed by Golub Capital and BlackRock took similar steps last year. Story by John Sage. #privatecredit #privatedebt #loans #leveragedfinance

All is well in private credit for retail investors, right? The Muppets Moment we wrote about last summer continues to play out. #privatecredit

With Main Street bearing the brunt of the pain from the current policy of higher interest rates for auto loans and credit cards, rate cuts would be welcome – but how would they impact cash holdings? Read Portfolio Manager Gerald Hendricks, CFA, CMT®’s breakdown of the situation below! #wealthmanagement #macro #assetmanagement

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Lower interest rates are driving a recovery in commercial real estate, opening up new investment opportunities for nonbank lenders like Marathon Asset Management, according to its Chairman and CEO, Bruce Richards. The firm, managing $23 billion, now anticipates a CRE market rebound after initially steering clear post-Covid. Jodi Xu Klein | The Wall Street Journal https://lnkd.in/dXNVG4UM #RealEstate #RealEstateInvesting