Tag Archives: Private Markets
The Rapid Rise of Private Credit and the Expanding Role of BDCs
The Rapid Growth of Private Credit Private credit, broadly defined as non-bank lending directly to companies outside traditional public markets, has seen remarkable growth over the past decade (see Exhibit 1). This segment of finance includes direct loans, mezzanine debt and other debt instruments extended primarily to middle-market companies with annual revenues between USD 10…
- Categories Fixed Income
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Evolving Index Solutions Are Bringing Transparency to Private Markets
The investment landscape is undergoing a marked transformation as the private markets space has generated increasing interest among new classes of investors. This shift reflects a broader rethinking of diversification, return potential and portfolio construction strategies. As interest in private equity and private credit continues to expand, S&P Dow Jones Indices (S&P DJI) is positioned…
- Categories Equities
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Unlocking Deeper Insights in Private Markets
Meet the Cambridge Associates Private Markets Benchmark Calculator, a new tool designed to help investors make more informed decisions and bring greater clarity and deeper insights to private markets.
- Categories Equities, Fixed Income
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When Private Goes Public: Inside the S&P Listed Private Equity Index
The private equity (PE) industry has experienced a notable shift with a growing wave of high-profile public listings worldwide. This trend traces back to the mid-2000s, with Blackstone being among the first major firms to list its shares on the NYSE. This unlocked an era where industry giants such as KKR and Carlyle followed suit…
- Categories Equities
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- Equities
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The Future of Private Credit
In recent blogs we examined why private credit has been growing, as well as the potential opportunities and risks associated with the asset class. Now, we turn to the future of this evolving market, examining the trends shaping its growth, the role of institutional investors and how private credit may continue to develop as a…
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Potential Opportunities and Risks of Private Credit
The private credit market has seen significant growth in response to regulatory shifts, pursuit of yield and increased awareness of its unique characteristics. A previous blog explored its rise, and in this post, we will analyze private credit’s comparative performance, consistency and correlation to public markets—particularly broadly syndicated loans (BSL), which share private credit’s illiquidity…
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Private Credit vs. Public Debt and Traditional Financing
The private credit market has grown significantly, becoming a key component of the global financial landscape. Traditional banks have tightened lending practices due to increased regulatory scrutiny and risk aversion following the 2008 Global Financial Crisis. In response, private credit has emerged as an alternative for businesses facing challenges in securing financing from traditional sources….
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Evaluating Private Markets with Benchmarks
Collectively, private markets make up one of the fastest-growing market segments, but they have historically been characterized by opacity and inaccessibility. This is changing, thanks in part to evolving private market benchmarks that focus on strategy-specific performance. In our first blog, we summarized the performance of a collection of private market benchmarks. In this blog,…
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2023 Performance of Private Markets Benchmarks: A Mixed Bag
In this blog, we summarize annual returns for a collection of private market benchmarks and frame recent performance against that of public market benchmarks.1 Private Equity and Venture Capital Venture Capital faced severe headwinds relative to Private Equity in 2023. Through the first three quarters, Venture Capital funds from the U.S., Europe and Asia/Pacific largely…
- Categories Equities
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Navigating Private Credit Liquidity Challenges with Indices
What’s driving insurance companies’ increased allocation to private credit? S&P Global Market Intelligence’s Lynn Bachstetter joins S&P DJI’s Frans Scheepers and State Street Global Advisors’ Bill Ahmuty to explore how indices like the iBoxx Liquid Leveraged Loan Index are helping insurers identify and navigate liquidity challenges in private credit markets.
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