Private Debt: Opportunities In Corporate Direct Lending

<p><b>The essential resource for navigating the growing direct loan market</b></p> <p><i>Private Debt: Opportunities in Corporate Direct Lending</i> provides investors with a single, comprehensive resource for understanding this asset class amidst an environment of tremendous growth. Traditionally a niche asset class pre-crisis, corporate direct lending has become an increasingly important allocation for institutional investors—assets managed by Business Development Company structures, which represent 25% of the asset class, have experienced over 600% growth since 2008 to become a $91 billion market. Middle market direct lending has traditionally been relegated to commercial banks, but onerous Dodd-Frank regulation has opened the opportunity for private asset managers to replace banks as corporate lenders; as direct loans have thus far escaped the low rates that decimate yield, this asset class has become an increasingly attractive option for institutional and retail investors.</p> <p>This book dissects direct loans as a class, providing the critical background information needed in order to work effectively with these assets.</p> <ul> <li>Understand direct lending as an asset class, and the different types of loans available</li> <li>Examine the opportunities, potential risks, and historical yield</li> <li>Delve into various loan investment vehicles, including the Business Development Company structure</li> <li>Learn how to structure a direct loan portfolio, and where it fits within your total portfolio</li> </ul> <p>The rapid rise of direct lending left a knowledge gap surrounding these nontraditional assets, leaving many investors ill-equipped to take full advantage of ever-increasing growth. This book provides a uniquely comprehensive guide to corporate direct lending, acting as both crash course and desk reference to facilitate smart investment decision making.</p>