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Large alternative managers are racing to institutionalize asset-backed finance as pensions seek exposure less dependent on sponsor-backed corporate defaults.
LPs have been increasingly shifting their private credit portfolios away from unsecured direct lending toward loans secured with a wide array of assets that are easy to value and can quickly be sold for cash.
Can the explosive growth continue? Where are opportunities for new entrants? A panel of senior dealmakers weigh in on today’s market and where it goes from here.